Barrick Mining Corporation · TSX:ABX
Barrick Mining — Investor Day (November 2024)
26 slides from Barrick Mining's investor day presentation, November 2024
Slide 1: Operations Africa & Middle East
OPERATIONS AFRICA & MIDDLE EAST Sebastiaan ` Bock Chief Operating Officer, Africa & Middle East
Slide 2: A Leading Gold and Copper Business
A Leading Gold and Copper Business Loulo-Gounkoto 80% Mali A Tier One1 Barrick discovery, high margin producer Jabal Sayid 50% Saudi Arabia Low cost JV with Ma’aden commenced production in AME on track to deliver production guidance for 2024 2015 Track record of replacing and growing reserves drives
Slide 3: Journey to Zero
Journey to Zero Safety is our core value and collectively we are responsible in ensuring everyone goes home safe and healthy every day Some of the key elements of our strategy driving this change: Our Journey to Zero program, which includes the rollout of our Fatal Risk Standards Safety is a core co
Slide 4: A Substantial Business with Proven Performance
A Substantial Business with Proven Performance 5YR Gold Equivalent Production Contribution (attributable)i As a standalone business, AME is ranked 3rd globally on gold equivalent ounces managed NA among all gold companies AME AME is Africa’s biggest miner and operates across several jurisdictions wi
Slide 5: Operational Excellence
Strategic Objectives Delivered Since 2022 AME on track to deliver overall production guidance for the region for 2024 Operational Excellence Active management of inflationary pressure through rise-and-fall agreements to retain flexibility to reduce prices as certain cost pressure subside, through le
Slide 6: Sustainability and Partnerships
Strategic Objectives Delivered Since 2022 Transformation of relationship in Tanzania continues with further funding of education and infrastructure Sustainability and Kibali renewable energy in the process of being expanded, augmenting current hydro with a new Partnerships Solar Plant and Battery En
Slide 7: Future Strategic Objectives
Future Strategic Objectives Expand sustainability Continued investment Portfolio of +3Moz initiatives across the in growing our Tier attributable GEOi region boosting Solar One1 assets, extending profile by the end of and Grid connections lives beyond the next this decade and carbon offsets 10 years
Slide 8: Sustainable Growth and Production
Sustainable Growth and Production Loulo-Gounkoto – Historic P&P Mineral Reserves and Production i Kibali – Historic P&P Mineral Reserves and Production ii 25Moz 25Moz 0 0 2009 2023 2009 2023 LG Complex - Cumulative Production LG Complex - Reserves Kibali - Cumulative Production Kibali - Reserves Tie
Slide 9: Total Cash Costs per Ounce
Total Cash Costs per Ounce3 AME - by Category Total Cash Costs (by Category), $/oz3 500 2021 2022 2023 2024 F 450 400 350 300 250 200 150 100 50 0 Labour & Benefits Energy & Fuels Consumables & Spares Contracted Services Royalties Other 11% 16% Labour & Benefits Inflation impact most evident in cons
Slide 10: Gold Five-Year Outlook
GOLD Five-Year Outlook AFRICA AND MIDDLE EASTi Gold Production (Attributable), koz Cost of Sales(4), Total Cash Costs(3) and Total Capital Expenditures (Attributable), $ mln AISC(3), $/oz Tongon North Mara Loulo-Gounkoto Total Cash Costs Total Capital Bulyanhulu Kibali Cost of Sales AISC 1,600 1,500
Slide 11: Kibali
Kibali Reserves & Resources (100%)6 P&P 100Mt @ 3.07 g/t for 10Moz Strong brownfields’ work extending long- 15 M&I 150Mt @ 3.18 g/t for 15Moz term delivery Moz 10 Inf 20Mt @ 2.8 g/t for 1.8Moz P&P Reserves Largest and most automated gold mine in Africa and a Tier One 5 M&I Mineral Resources operatio
Slide 12: Loulo-Gounkoto
Loulo-Gounkoto Reserves & Resources (100%)7 P&P 71Mt @ 3.99 g/t for 9.1Moz Working to overcome challenges while 15 M&I 110Mt @ 3.87 g/t for 13Moz continuing to deliver robust long-term value Moz 10 Inf 20Mt @ 2.4 g/t for 1.5Moz P&P Reserves 5 M&I Mineral Resources Successful replacement of mined oun
Slide 13: Tanzania: North Mara and Bulyanhulu
Tanzania North Mara Reserves & Resources (100%)8 Bulyanhulu Reserves & Resources (100%)9 Delivering through our re-established 10 P&P 47Mt @ 2.30 g/t for 3.5Moz M&I 91Mt @ 2.08 g/t for 6.1Moz P&P 21Mt @ 6.05 g/t for 4.1Moz M&I 35Mt @ 6.66 g/t for 7.4Moz partnership Moz Inf 12Mt @ 1.7 g/t for 0.64Moz
Slide 14: Capitalizing on the Long-term Copper Fundamentals
Capitalizing on the Long-term Copper Fundamentals Total Mine IRRi,10 Lumwana Super Pit Expansion ~50% Potential Tier One1 copper production profile strategically positioning Barrick as a global copper producer Expansion Capital Paybacki,11 ~2 years Low risk due to existing operational footprint resu
Slide 15: Lumwana
Lumwana Reserves & Resources (100%)12 P&P 510Mt @ 0.58% for 3.0Mt 10 M&I 1400Mt @ 0.52% for 7.1Mt Ramping up for the future Inf 910Mt @ 0.40% for 4.0Mt Mt 5 P&P Reserves The largest operating copper mine in Barrick’s portfolio, M&I Mineral Resources contributing ~45% of the company’s total copper pr
Slide 16: Barrick Academy
Barrick Academy World class training academy at Buzwagi mine in line with Barrick’s mine closure objective of leaving a positive legacy after mining has finished Follows the construction of an airport terminal at Buzwagi’s Kahama airstrip, expected to be a major catalyst for economic growth in the r
Slide 17: Real-Time Data Drives Real-Time Decision Making
Real-Time Data Drives Real-Time Decision Making OneMine platform for all the operational information across the entire mine Outcomes Turning real-time shift data into information for better operational Unified data ecosystem combining operational tech systems into one decision making: a critical too
Slide 18: Continuing to Grow the Pipeline
Continuing to Grow the Pipeline West African Craton (WAC) and KKI At Loulo-Gounkoto, Baboto shows promising underground potential to enhance resources and extend Tier One1 life North-East DRC (NE DRC) At Kibali, the Agbarabo-Rhino-Kombokolo (ARK) area offers significant open-pit and underground reso
Slide 19: Sustained Growth
Sustained Growth AME Gold Equivalent Production Outlook (Attributable, koz)ii 3,000 Gold mines Copper AuEqi 2,500 2,000 1,500 1,000 500 0 2024 2025 2026 2027 2028 2029 i. Gold Equivalent Oz from copper assets are calculated using a gold price of $2,352/oz and a copper price of $4.16/lb for 2024, and
Slide 20: Appendix A – Loulo Gounkoto Historical Production
Appendix A – Loulo Gounkoto Historical Productioni Loulo Gounkoto Based on a 100% Basis Tonnes Milled Head Grade Gold Produced Recovery Year (kt) (g/t) (koz) (%) 2005 527 3.72 68 95.9 2006 2,595 3.15 242 93.9 2007 2,654 3.3 265 93.1 2008 2,721 3.22 258 91.5 2009 2,947 4.22 352 87.7 2010 3,158 3.36 3
Slide 21: Appendix B – Loulo Gounkoto Historical Total Mineral Reserves
Appendix B – Loulo Gounkoto Historical Total Mineral Reservesi,ii Proven Probable Total Based on 100% Basis Tonnes Grade Contained ozs Tonnes Grade Contained ozs Tonnes Grade Contained ozs Year Gold Price Assumption Project (Mt) (gm/t) (Moz) (Mt) (gm/t) (Moz) (Mt) (gm/t) (Moz) 2003 $350/oz Loulo 12
Slide 22: Appendix C – Kibali Historical Production
Appendix C – Kibali Historical Productioni Kibali Based on a 100% Basis Tonnes Milled Head Grade Gold Produced Recovery Year (kt) (g/t) (koz) (%) 2013 808 3.87 88 91.5 2014 5,546 3.81 527 79 2015 6,833 3.55 643 83.8 2016 7,299 3.1 587 79.8 2017 7,621 2.87 596 83.6 2018 8,218 3.45 807 88.6 2019 7,513
Slide 23: Appendix D – Kibali Historical Total Mineral Reserves
Appendix D – Kibali Historical Total Mineral Reservesi,ii Proven Probable Total Based on 100% Basis Tonnes Grade Contained ozs Tonnes Grade Contained ozs Tonnes Grade Contained ozs Year Gold Price Assumption Project (Mt) (gm/t) (Moz) (Mt) (gm/t) (Moz) (Mt) (gm/t) (Moz) 2009 $700/oz Kibali - - - 42 4
Slide 24: Appendix E – Assumptions/Outlook
Appendix E – Assumptions/Outlook Key Outlook Assumptions 2024 2025 2026+ Gold Price ($/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 25: Technical Information Endnotes
Technical Information The scientific and technical information contained in this presentation has been reviewed and approved by Richard Peattie, MPhil, FAusIMM, Mineral Resources Manager: Africa and Middle East; Simon Bottoms, CGeol, MGeol, FGS, FAusIMM, Mineral Resource Management and Evaluation E
Slide 26: Endnotes
Endnotes 6. Estimated in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects as required by Canadian securities regulatory authorities. Reserves and resources for Kibali are stated on a 45% basis as of December 31, 2023. Proven reserves of 14 million tonnes grad