* Net income fell to $39.9 million from $43.3 million
* Q3 gold production declines to 164,996 ozs vs 213,819 ozs
* Average realised prices up 29 pct to $1,233/ounce
LONDON, Oct 22 (Reuters) - African Barrick Gold’s ABGL.L net income fell 8 percent in the third quarter as weaker-than-expected gold production outweighed the effect of higher gold prices.
Net income fell to $39.9 million from $43.3 million as gold output declined 23 percent to 164,996 ounces.
Earlier this month, African Barrick said a fuel theft at its new Buzwagi mine would reduce its overall production for the third quarter by 10,000 ounces and take about 30,000 ounces from full-year output. [ID:nLDE69D084]
The unit of the world’s biggest gold producer, Barrick Gold Corp (ABX.TO), had revised full-year production to about 716,000 ounces from 750,000-800,000 ounces.
The previous target itself had been reduced in July from an original estimate of 800,000-850,000 ounces due to delays in accessing higher-grade ores from the Buzwagi open pit mine.
Reporting by Julie Crust; editing by Kate Holton