April 16 (Reuters) - Canadian miner Barrick Gold ( GOLD )

on Tuesday reported lower-than-expected preliminary

gold production for the first quarter hurt by planned

maintenance and sequencing at its mines.

Barrick reported a total preliminary output of 940,000

ounces of gold in the three months ended March 31, below

analysts' estimates of 984,000 ounces, according to LSEG data.

The world's second-largest gold miner was unable to beat

production estimates in 2023.

Barrick expects all-in-sustaining costs (AISC) per ounce

of gold, an industry metric that reflects total expenses, to be

about 7% to 9% higher than the previous quarter.

U.S. shares of the firm were 2.2% lower in

premarket trading, while spot gold was down 0.4%.

Miners, including First Quantum in Panama and

platinum and palladium miners in Africa have run into a spate of

operational and labor troubles, leading to higher costs and

production halts.

Barrick's Porgera gold mine in Papua New Guinea had been

shuttered since 2020, but

restarted operations

late into the first quarter.

The company, however, added that it expects gold and

copper production to increase through the year, with its Pueblo

Viejo gold mine in the Dominican Republic ramping up from the

second quarter.

Barrick also reported preliminary copper production of

40,000 tonnes, down from 113 million pounds (51,255.94 tonnes)

in the previous quarter, largely due to lower grades mined at

its Lumwana mine in Zambia.

AISC for the red metal, which is widely used in power,

construction and transportation sectors, is expected to rise by

14% to 16% from the previous quarter.

The Toronto, Canada-based company is scheduled to

release its fourth-quarter results on May 1, 2024.