Top mining companies report rise in gold production in Q4 of 2012


African Barrick Gold PLC produced 180,684 ounces of gold in the fourth quarter. That is 13% quarterly uincrease and 22% on year over year basis. The upward results are supported by improved output of Buzwagi mine and higher quality ore gathered at North Mara and Buzwagi mine. Though, this partially offsets lower ore grades from Bulyanhulu mine. The positive data wasn’t enough to compensate for 9% drop in full-year gold output to 626,212oz for 2012 .If Q4’s output is to be repeated throughout 2013, the production on an annualized basis would put the company on track to produce 723,000 ounces this year.

Gold Corp. Brigus sets a quarterly record with high production in the fourth quarter of 2012. In Q4 the company produced 22,672 ounces of gold at its Black Fox operation in the Timmins gold district in Ontario. That is approximately a 15% gold production increase on quarter over quarter. In addition the mine still has remaining capacity.

Gold Cold Alacer also had a strong finish to 2012 with gold production increasing to 103,426 ounces for Q4 2012. That is a 12,475 ounces or 14% jump over the previous quarter.

Newcrest Mining Limited reported a 7% raise in its gold output for 2012’s last quarter, compared to Q3. The company actually expected higher levels of production of 527,000 ounces. Newcrest is confident that its output volume would keep progressively increasing over the 2013 period.

Eldorado Gold Corporation announced that its Q4 production was 659,369 ounces of gold at cash cost of $489. Eldorado added 193,575 ounces to Q3 gold output including pre-commercial production from the Efemcukuru and Olympias mines. The Company keeps its production to increasing rate through expansion of new mine development and existing mines.


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