Barrick Gold Corp. ABX -0.07% said that its Pierina gold mine in Peru may operate until 2018.

Minera Barrick Misquichilca SA, the company’s Peruvian unit, told the Peruvian securities regulatory agency on Wednesday that its operating plan for the mine depends on the price of gold and operating costs, among other factors.

In October last year, the company said that it planned to keep running the gold mine located in the Andes Mountains until the last quarter of 2014.

The Canadian-based company has carried out exploration in order to add to reserves and to extend the life of the Pierina mine, which it purchased in 1996. – Source: MarketWatch.com