Barrick Mining Corporation · TSX:ABX
Barrick Mining — Investor Day (November 2024)
23 slides from Barrick Mining's investor day presentation, November 2024
Slide 1: Operations: LATAM & Asia Pacific
OPERATIONS LATAM & ASIA PACIFIC Mark Hill & Tim Cribb Chief Operating Officer, LATAM AP Project Director, Reko Diq
Slide 2: World-Class Assets and Talent Drive Sustainable Growth
World-Class Assets and Talent Drive Sustainable Growth Pueblo Viejo plant expansion delivered and ramping up with TSF Feasibility Study work completed Reko Diq Reko Diq Feasibility Study and early works on track (50%) INDIA Veladero turnaround drives cash delivery PAKISTAN, Balochistan Porgera resta
Slide 3: Targeted safety campaigns deliver improvements
Targeted safety campaigns deliver improvements Incident severity decreasing Safety Performance 9 LTIi-free months YTD 2024 Strengthened contractor management Shifted focus toward leading indicators and critical control Targeted Campaigns verifications Roll out of Journey to Zero and fatal risks prog
Slide 4: Successfully delivering on commitments
Successfully delivering on commitments Repatriated cash from Veladero to enable full shareholder debt repayment by year-end Performance Addressed historical tax liabilities in Chile through constructive engagement with authorities Reconstituted the Reko Diq project - early works started and Feasibil
Slide 5: Focus on Future Delivery
Focus on Future Delivery Transformational Reko Additional exploration at Pueblo Viejo targeting Diq project to deliver Veladero to further >800koz high-margin from 2028 onwards and extend mine life whilst ounces per annum provide additional delivering production and following ramp-upi cornerstone as
Slide 6: Total Cash Costs per ounce
Total Cash Costs per ounce4 Total Cash Costs (by Category), $/oz4 500 2021 2022 2023 2024 F 400 300 200 100 0 -100 -200 Labour & Benefits Energy & Fuels Consumables & Spares Contracted Services Royalties Other -3% Per-ounce costs lower in all major categories as volumes 10% 20% Labour & Benefits ram
Slide 7: Five-year profile - Gold
Five-year profile - Gold LATIN AMERICA AND ASIA PACIFIC Gold Production (Attributable), kozi Cost of Sales(5), Total Cash Costs(4) and Total Capital Expenditures (Attributable), $ mln AISC(4), $/ozii Reko Diq Veladero Cost of Sales AISC Porgera Pueblo Viejo Total Cash Costs Total Capital 1,500 1,500
Slide 8: Five-year profile - Copper
Five-year profile - Copper LATIN AMERICA AND ASIA PACIFIC Copper Production (Attributable), kti Cost of Sales(5), C1 Costs(6), AISC(6), $/lb, and Total Capital Expenditures (Attributable), $ mln Reko Diq Cost of Sales AISC Capital Cu kt Zaldivar C1 Cash Costs Total Capital 1,000 200 4.50 4.00 3.50 7
Slide 9: Pueblo Viejo
Pueblo Viejo Reserves & Resources (100% basis)7 High-Margin Asset Poised to Generate 30 P&P 290Mt @ 2.14 g/t for 20Moz Leading Returns 20 M&I 400Mt @ 1.96 g/t for 25Moz Inf 7.9Mt @ 1.6 g/t for 0.40Moz Moz 10 P&P Reserves Delayed plant ramp-up due to re-engineering M&I Mineral Resources required, gea
Slide 10: Throughput Improvement Projects
Throughput Improvement Projects Project Objective Benefit Completion Thickener well – improved flow & Thickener Optimization: Increase reliable throughput of dilution control Upgraded thickener center well existing grinding thickener Q1-2025 Underflow pumps allows for single Upgrade underflow pumps
Slide 11: Recovery Improvement Projects
Recovery Improvement Projects Project Objective Benefit Completion Improve flotation operation with Improved reagent control to Flotation Optimization: larger pumps and alternative individual cells, optimized gold and Q4-2025 Upgraded reagent dosage system flotation reagents sulfide recovery Improve
Slide 12: Expansion Project
Expansion Project In 2019, declining grades and tailings constraints limited 100% basis mining operations to 2029 ~$2.6B ~13.9Moz7 ~$187/oz Expansion project undertaken to increase plant throughput to 14.4Mtpa and add tailings capacityii Capital Incremental Incremental Expendit Reserves Expansion TS
Slide 13: Reko Diq
Reko Diq Mine Life (yrs) Reko Diq Feasibility Study Snapshot (100%)ii 37 Unlocking a Potential Tier One1 Asset M&I: 3.8Bt @ 0.43% Cu for 17Mt Cu Mineral Resource8 INF: 1.3Bt @ 0.3% Cu for 4.4Mt Cu One of the largest undeveloped copper-gold Phase 1 Phase 2 deposits in the world: Throughput (Mtpa)ii 4
Slide 14: Feasibility Study On Track
Feasibility Study On Track Feasibility Study update on track for completion by year-end has improved and derisked project delivery Process plant design underpinned by advanced orebody knowledge, geo- metallurgical test work and industry-tested equipment, based on two phases of 45Mtpa eachi Desalinat
Slide 15: Transformative Social Projects
Transformative Social Projects Proven first-principles approach, in line with our sustainability ethos and the UN Sustainable Development Goals Water, health, education and sanitation are key focus areas: 756 community members have access to safe drinking due the Reverse Osmosis Water Filtration Pla
Slide 16: Veladero
Veladero Reserves & Resources (100% basis)9 P&P 180Mt @ 0.70 g/t for 4.0Moz Turnaround drives robust cashflows 6 M&I 250Mt @ 0.66 g/t for 5.4Moz Inf 36Mt @ 0.5 g/t for 0.63Moz 4 Moz 2 P&P Reserves Back-to-basics plan implemented – disciplined M&I Mineral Resources 0 focus on delivery and commercials
Slide 17: Porgera
Porgera Reserves & Resources (100% basis)10 Future Tier-One mine restarted despite 10 P&P 32Mt @ 4.81 g/t for 5.0Moz M&I 85Mt @ 3.74 g/t for 10Moz challenges Inf 33Mt @ 3.20 g/t for 3.3Moz Moz 5 P&P Reserves Operation ramped-up and commissioned all M&I Mineral Resources 0 Inf. Resources four autocla
Slide 18: Historical Liabilities Addressed
Historical Liabilities Addressed Committed to rehabilitating to return the environment to its previous state Pierina is an industry-leading example of the benefits of sustainable closure through disciplined execution: Liabilities have reduced from >$400m with closure expected to be substantially com
Slide 19: Cultivating a local, diverse workforce
Cultivating a local, diverse workforce Female representation in LATAM workforce increased from 18% to 25% - improving gender balance Pueblo Viejo achieved recertification of the Platinum Seal Award, acknowledging promotion of gender balance and economic autonomy: Operation achieved 67% female repres
Slide 20: Tier One Gold and Copper propel growth
Tier One Gold and Copper propel growth LATAM Gold Equivalent Production Outlook (Attributable, koz)ii 1,800 Copper production (AuEq)i 1,600 Gold production 1,400 1,200 1,000 800 600 400 200 0 2023 2024 2025 2026 2027 2028 2029 i. Gold Equivalent Oz from copper assets are calculated using a gold pric
Slide 21: Appendix A – Assumptions/Outlook
Appendix A – Assumptions/Outlook Key Outlook Assumptions 2024 2025 2026+ Gold Price ($/oz) 2,400 2,400 2,400 Copper Price ($/lb) 4.00 4.00 4.00 Oil Price (WTI) ($/barrel) 80 70 70 AUD Exchange Rate (AUD:USD) 0.75 0.75 0.75 ARS Exchange Rate (USD:ARS) 800 800 800 CAD Exchange Rate (USD:CAD) 1.30 1.30
Slide 22: Technical Information
Technical Information The scientific and technical information contained in this presentation has been reviewed and approved by Simon Bottoms, CGeol, MGeol, FGS, FAusIMM, Mineral Resource Management and Evaluation Executive (in this capacity Mr. Bottoms is also responsible on an interim basis for s
Slide 23: Endnotes
Endnotes 7. Difference between Pueblo Viejo's proven and probable reserves as of December 31, 2019 (9.5 Moz) and December 31, 2023 (20.0 Moz) plus cumulative depletion of 3.5 million ounces over the same period (all on a 100% basis). Estimated in accordance with National Instrument 43-101 - Standard