Barrick says higher costs take shine off gold price

LIMA (Reuters) - The world's top gold producer, Barrick Gold Corp (ABX.TO), said on Tuesday near-record prices for the metal are being offset by higher costs that could make it harder for the global industry to develop new mines.

"The break-even cost for the industry now is probably in the $700 to $800 range," Barrick exploration chief Alexander Davidson told Reuters at a mining conference in Peru.

"Higher capital costs are making it much harder for marginal projects to be economic," he said.

(Reporting by Terry Wade, editing by Richard Chang)