The company produced 816,000 ounces of gold during the third quarter of 2026. In San Juan, it continues its US$250 million investment in heap leach infrastructure and is preparing further drilling at Porfiada.
By Panorama Minero
Barrick Mining Corporation reported attributable production of 816,000 ounces of gold and 50,000 tonnes of copper during the third quarter of 2026, an increase of 3% compared with the previous quarter. The company maintained its annual gold production guidance of between 2.9 million and 3.25 million ounces.
In Argentina, Barrick continues to invest in infrastructure and develop exploration programmes at Veladero, an operation it shares with Shandong Gold in the province of San Juan. According to the company, these activities are progressing against a backdrop of extreme weather conditions that affected production performance during the winter.
One of the main developments is Phase 8 of the heap leach pad, involving an estimated investment of US$250 million. As of 30 September, cumulative expenditure had reached US$140 million, including US$9 million during the third quarter.
Stages 8A and 8B were completed according to schedule, while the remaining construction activities are subject to adjustments depending on economic and regulatory conditions.
In parallel, Barrick is maintaining its exploration activities in the Veladero district. A new drilling campaign is planned at Porfiada during the fourth quarter, aimed at defining the extent of known mineralisation. The company is also conducting safety assessments to determine operating conditions following the winter season.
In terms of production, Veladero recorded 54,000 ounces of gold during the third quarter. This represented a 25% decrease compared with the previous quarter, mainly due to severe winter storms that caused temporary operational suspensions.
Reduced activity lowered the volume of material processed and the recoverable ounces placed on the heap leach pad. The cost of sales also increased by 24% to US$2,606 per ounce, while all-in sustaining costs (AISC) rose by 20% to US$1,788 per ounce.
For the remainder of 2026, Barrick maintains attributable gold production guidance of between 180,000 and 200,000 ounces at Veladero, while continuing its planned investments and exploration activities.
