http://www.mineweb.com/mineweb/view/mineweb/en/page504?oid=149791&sn=DetailAfrican Barrick Gold posted a 17 percent fall in gold production in the first quarter, partly due to lower head grades at its Buzwagi mine in Tanzania.
The Tanzania-focused miner produced 144,643 ounces of attributable gold in the quarter.
Power outages at its mines held back output in the final quarter last year, with the company's full-year production falling 2 percent to 688,278 ounces.
African Barrick, a unit of Barrick Gold Corp, the world's largest gold miner, reported a 41 percent surge in costs to $925 per ounce for the quarter, well ahead of its full-year estimate of $790 to $860 per ounce.
Costs jumped 22 percent last year on the back of rising inflation, higher wages and increased use of more expensive generator power to keep mines working.
A sign of SRSrocco's EROI paradigm playing out in gold?