Barrick Mining Corporation · TSX:ABX

Barrick Mining — Barrick Gold — LBMA/LPPM Precious Metals Conference 2012

13 slides from Barrick Mining's conference presentation, Nov 13, 2012

  1. Slide 1: International Mine Production

    BARRICK GOLD CORPORATION LBMA/LPPM Conference Hong Kong | November 2012 International Mine Production LBMA/LPPM Precious Metals Conference 2012 Hong Kong | November 2012 1 CAUTIONARY STATEMENT ON FORWARD‐LOOKING INFORMATION Certain information contained or incorporated by reference in this presentat

  2. Slide 2: Mine Supply Inelasticity

    BARRICK GOLD CORPORATION LBMA/LPPM Conference Hong Kong | November 2012 Mine Supply Inelasticity Mine Supply Gold Price  Supply has not kept Moz US$/oz pace with the rising 100 $1,500 gold price  Production declines in 90 $1,200 mature areas  Reserve replacement 80 $900 challenges  Increasing ca

  3. Slide 3: Changing of the Guard

    BARRICK GOLD CORPORATION LBMA/LPPM Conference Hong Kong | November 2012 Changing of the Guard Annual Gold Production Moz 2004 2011 Moz 11.0 South Africa China 11.9 8.4 United States Australia 8.3 8.3 Australia United States 7.5 7.0 China Russia 6.8 5.9 Russia South Africa 6.4 Source: Thomson Reuters

  4. Slide 4: Declining Discovery Rates

    BARRICK GOLD CORPORATION LBMA/LPPM Conference Hong Kong | November 2012 Declining Discovery Rates Endowment (Moz)(1) Gold Exploration Spending (US$B) 120 9.0 100 7.5 80 6.0 60 4.5 40 0 3.0 20 1.5 0 0 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 Discovery Year Sources: Metals Econom

  5. Slide 5: Declining Discoveries

    BARRICK GOLD CORPORATION LBMA/LPPM Conference Hong Kong | November 2012 Declining Discoveries Number of Gold Discoveries Per Year Over 5Moz 12 7 7 10 Not Operating Operating 6 5 8 4 4 2 6 3 6 1 5 2 1 4 4 2 4 4 4 4 4 3 3 3 3 3 2 2 1 2 1 1 1 1 1 1 0 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 0

  6. Slide 6: Industry Cash Costs

    BARRICK GOLD CORPORATION LBMA/LPPM Conference Hong Kong | November 2012 Industry Cash Costs  Higher gold prices and lower cutoff grades have contributed to cash cost escalation 2012 2011 -5% $/oz +23% +12% $/oz 750 Total for the period Q4 2005 – Q2 2012 +12% 1,800 Cash Costs +187% Gold Price +270%

  7. Slide 7: Production Costs

    BARRICK GOLD CORPORATION LBMA/LPPM Conference Hong Kong | November 2012 Production Costs ~20% Maintenance (and other) ~25% ~40% Other Wages Consumables (including contract) ~15% Energy 13 Increasing Labor Scarcity Skilled Labor - Supply and Demand Australian minerals sector CAGR 2005-2015 (percent)

  8. Slide 8: Sustaining Capital

    BARRICK GOLD CORPORATION LBMA/LPPM Conference Hong Kong | November 2012 Sustaining Capital +7‐10% PER ANNUM  Higher Hi h labor l b costs t $300/oz  Higher energy costs +7‐10% UNDERGROUND PER ANNUM  Less experienced personnel $200/oz  Other inflationary OPEN PIT pressures Source: CIBC World Marke

  9. Slide 9: "All-In" Costs

    BARRICK GOLD CORPORATION LBMA/LPPM Conference Hong Kong | November 2012 “All-In” Costs  Increasing capital expenditures are leading to higher all-in costs $1,498 $/oz All-in Co-Product Cash Costs 1,400 US$ per ounce 1,200 1,000 800 600 400 200 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 08 08 0

  10. Slide 10: Shrinking Junior Miners

    BARRICK GOLD CORPORATION LBMA/LPPM Conference Hong Kong | November 2012 Shrinking Junior Miners Market Cap of Top 100 Junior Miners Listed on TSX-V Other findings: $20 6B $20.6B JUNE 30, 2011  61% decrease in +$200M market ‐43% cap entities  41% decrease in $11.7B equity funds raised JUNE 30 30, 2

  11. Slide 11: Greater Responsibilities

    BARRICK GOLD CORPORATION LBMA/LPPM Conference Hong Kong | November 2012 Greater Responsibilities  Growing number of responsibilities  Rising investor and NGO pressure 23 Challenges in Common  Environmental Impacts – Water and land management – Low trust in the private sector – Competing for share

  12. Slide 12: Managing in this Environment

    BARRICK GOLD CORPORATION LBMA/LPPM Conference Hong Kong | November 2012 Managing in this Environment Industry association established to facilitate member companies’ efforts toward sustainable development Industry association that has recently launched Conflict Free Gold Standard Multi-sector initia

  13. Slide 13: International Mine Production

    BARRICK GOLD CORPORATION LBMA/LPPM Conference Hong Kong | November 2012 International Mine Production LBMA/LPPM Precious Metals Conference 2012 Hong Kong | November 2012 27

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