Slide 1: Kibali…a decade of value creation
Operated by Kibali …a decade of value creation
Slide 2: Cautionary Statement on Forward-Looking Information
Cautionary Statement on Forward-Looking Information… Certain information contained in this presentation, including any information as to Barrick’s strategy, plans, or future financial or operating performance, constitutes “forward-looking statements”. All statements, other than statements of histori
Slide 3: Kibali…a decade of delivery
Kibali…a decade of delivery 2015 2016 Q4 2016 Q3 2017 Q2 2018 Q1 2019 Full year UG ramp up + First power from Shaft and UG First power production at throughput ramp up to Ambarau system operating from Randgold – Barrick design specs full sulphide circuit hydrostation hoisting ramp up Azambi merger 2
Slide 4: Safety, health and environment
Safety, health and environment… Safety LTI free quarter achieved in Q2 2019 YTD LTIFR/million LTIFR of 0.0 from 0.94 in Q1 2019 hours worked Accredited Nebosch International General Certificate Training conducted on site: 18 safety 7 professionals from Kibali in attendance Cyanide emergency manageme
Slide 5: Safety, health and environment
Safety, health and environment… HIV positivity rate % HIV 20 Prevalence rate of 2.82% down from 17% in 2011 and 15 2.88% in 2018 10 Volunteer counselling tests campaigned: 555 VCTs 5 conducted against 399 in Q1 2019 0 Preventative actions included mass sensitisation, condom distribution at hotels an
Slide 6: Ebola Virus…since North Kivu outbreak in August 2018
Ebola Virus…since North Kivu outbreak in August 2018 Outbreak since Aug 2018 in North Kivu mainly in the Beni area Death toll of 1647 with two main challenges being security and a lack of community support and engagement in affected areas Our actions: Control of personnel movement to and from affect
Slide 7: Q1 2019 update
Q1 2019 update… 207 5621 ounces of gold produced at a cost of sales per ounce2 and a total cash cost per ounce2 of $1202/oz and $573/oz, respectively Above nameplate throughput and nameplate recovery achieved 1 lost time injury recorded Further exploration work to add reserves and replace depletion
Slide 8: Q2 2019…progress towards delivering on business plan
Q2 2019…progress towards delivering on business plan Gold production on track to meet or beat 2019 guidance of 750 000oz1 12 months of underground owner mining completed enabling transfer of specialist shills from expatriates to Congolese workforce Kibali a world leader in autonomous mining and now
Slide 9: Kibali underground development and mining
Kibali underground development and mining… UG ore tonnes Q2 2019 807Kt ore production achieved in Q2 Ore tonnes hoisted - shaft 400 Underground mine training program being extended with mine Ore tonnes mined - declines development Jumbo simulator Tonnes ‘000s 300 AutoMine® Multi-Lite system fully op
Slide 10: Underground automation expansion
Underground automation expansion… AutoMine® Multi-Lite fully commissioned and operational Bogging over shift changes and improving productivity Increasing feed to the ore passes Northern paving completed 3 loaders bogging on automation level from ore passes to ore bins Increasing throughput to 650t/
Slide 11: Production, recovery and throughput
Production, recovery and throughput… Tonnes million Oz 000 % 9 1 000 100 8 900 90 800 80 7 700 70 6 600 60 5 500 50 4 400 40 3 300 30 2 200 20 1 100 10 0 0 0 2013 2014 2015 2016 2017 2018 2019 forecast Gold produced oz Tonnes treated Plant Recovery %
Slide 12: Kibali…cumulative capital versus production
Kibali…cumulative capital versus production koz $ billion 900 3,0 800 2,5 700 600 2,0 500 1,5 400 300 1,0 200 0,5 100 - 0,0 2012 2013 2014 2015 2016 2017 2018 Oz actual Cumulative capital expenditure
Slide 13: Kibali power generation…hydro / diesel power blend
Kibali power generation… hydro / diesel power blend Total power generation MW Unit cost $/kWh 45 0,30 40 0,25 35 30 0,20 25 0,15 20 15 0,10 10 0,05 5 0 0,00 Hydro Diesel Cost
Slide 14: KZ structure…pipeline of projects reinforces prospectivity & opportunities
KZ structure…pipeline of projects reinforces prospectivity & opportunities N Upside identified in the KZ North include: Ikamva Kalimva Ikamva NW and East (HW and FW BIF mineralisation) Kalimva-Ikamva hinge zone Oere Mofu-Oere gaps (1.6Km) Mofu Oere 2.3Km potential - advanced target Pakaka KCD area R
Slide 15: Kibali…underground development LOM design with 3000, 5000 and 9000 Lode opportunities
Kibali…underground development LOM design with 3000, 5000 and 9000 Lode opportunities1 KCD Open Pit Sessenge Open Pit PB#3 & PB2 North 2018 Proven reserve:1.7Mt @ 2.71g/t for 148koz 2018 Proven reserve:1.2Mt@ 2.45g/t for 94koz 2018 Probable reserve 0.1Mt @ 2.20g/t for 8koz 2018 Probable reserve 3.2M
Slide 16: Ikamva down plunge for underground opportunities
Ikamva down plunge for underground opportunities2 Projected 2101 IKAMVA Looking NE Conceptual projected down plunge of lode 2101 of 77m wide 36m thick over 1000m Foliation form line Fence at 300m down plunge from the IVGC0102 $1500/oz pit supports model and highlights 20m @ 7.18g/t Quartz Felspar in
Slide 17: Oere…advanced target
Oere…advanced target OERE-KALIMVA GAP OERE Southeast dipping tabular mineralisation with NE plunging shoots. Two mineralised lenses within the envelop with average of 9.70m @ 2.08g/t (Foot Wall) over 125m down dip and 7.32m @ 0.91g/t (Hanging Wall) over 84.8m, and 900m strike length Improvement of m
Slide 18: Kibali employees in Q2 2019
Kibali employees in Q2 2019… Expat Expat Contractors Employees 127 (3%) 233 (5%) National Casuals National 244 (5%) Employees 1487 (30%) Nationals : 92% National Expatriates: 8% Contractors 2913 (58%)
Slide 19: Local contractors and supply strategy…more than CSR
Local contractors and supply strategy… more than CSR $38.9 million spent on local contractors during Q2 2019, $77.9 million YTD Ongoing civil construction and roadworks performed by Congolese contractors ( Traminco, TES and IOB) Partnership with Congolese engineering contractor (TES) for plant maint
Slide 20: In country investment…2010 through to Q2 2019
In country investment…2010 through to Q2 2019 $2.7Bn paid by Kibali in the form of taxes, permits, Nzoro Power line Road ARU - Ariwara Road infrastructure, salaries and payments to local suppliers Northern By-pass road US$ million Southern By-pass road Visible contributions directly Direct Community
Slide 21: Committed to our partnership philosophy
Committed to our partnership philosophy… local and international spend Specialist contracts* Construction General services Total contract Shaft sinking contract* and supply chain spend* Underground mining contract* Master drilling $ million $ million $ million $ million 2500 250 800 4000 700 3500 20
Slide 22: Kibali makes a difference…Q2 2019
Kibali makes a difference…Q2 2019 Durba asphalt project Construction of the bridge on the Doko – Kibali road complete Tenders received and adjudication being completed Local Economic Development Projects (YTD) Various community schemes generate revenue in Q2 Uele Coopec has received $9,728 in reimbu
Slide 23: Some of our achievements
Some of our achievements… Independence day tournament Ebola awareness campaign Agro processing – food development project Signature of the Kibali Garamba Cocoa project
Slide 24: Agribusiness…local supply to Kibali
Agribusiness…local supply to Kibali Egg production: 137,890 eggs produced from main community projects 13 small-scale pork projects with 280 heads in the community and 15.8t of pork meat sold (GCS and the community) Cocoa project Memorandum of Understanding signed between Kibali and Garamba Workshop
Slide 25: Outstanding legal and fiscal issues…working towards solutions
Outstanding legal and fiscal issues… working towards solutions Engagement initiated as new administration is established: Prime Minister only recently appointed No Cabinet Ministers appointed as yet which is affecting administration of the country as well as our engagement with the government Twelve
Slide 26: Investing in the future
Investing in the future…
Slide 27: DRC Ngayu Belt…Geology and structure of the Imva zone
DRC Ngayu Belt … Geology and structure of the Imva zone Preparation for drilling at Anguluku and other targets within Imva zone is underway N Bikira Work continued to be focused on the Bikira South prioritized Imva zone targets Nelis Trenching and auger drilling at Bakpau Bakpau and Lybie confirmed
Slide 28: Endnotes
Endnotes… 1. At 100%. 2. “Total cash costs” per ounce and “All-in sustaining costs” per ounce are non-GAAP financial performance measures. “Total cash costs” per ounce starts with cost of sales applicable to gold production, but excludes the impact of depreciation, the non-controlling interest of co
Slide 29: Appendix A – Kibali Significant Intercepts 1
Appendix A –Kibali Significant Intercepts1 Drill Results from Q2 2019 Lode RC Drill Hole Azimuth Dip Interval (m) Width (m) Au (g/t) Lode 9000 KCDU2132 315 -72 282.1 - 299 16.9 4.80 1. All intercepts calculated using a 0.5 g/t Au cutoff and are uncapped; minimum intercept width is 2 m; internal Lode
Slide 30: Appendix B – Kibali Significant Intercepts 2
Appendix B –Kibali Significant Intercepts2 Drill Results from Q2 2019 Lode RC Drill Hole Azimuth Dip Interval (m) Width (m) Au (g/t) Lode 2001 IOGC0005 305 -64.8 16 - 32 16 1.65 1. All intercepts calculated using a 0.5 g/t Au cutoff and are uncapped; minimum intercept width is 2 m; Lode 2101_1 IOGC0
Slide 31: Appendix B Con't – Kibali Significant Intercepts 2
Appendix B Con’t –Kibali Significant Intercepts2 Drill Results from Q2 2019 Drill Results from Q2 2019 Drill Results from Q2 2019 Lode RC Drill Hole Azimuth Dip Interval (m) Width (m) Au (g/t) Lode RC Drill Hole Azimuth Dip Interval (m) Width (m) Au (g/t) Lode RC Drill Hole Azimuth Dip Interval (m)
Slide 32: Appendix B Con't – Kibali Significant Intercepts 2
Appendix B Con’t –Kibali Significant Intercepts2 Drill Results from Q2 2019 Drill Results from Q2 2019 Drill Results from Q2 2019 Lode RC Drill Hole Azimuth Dip Interval (m) Width (m) Au (g/t) Lode RC Drill Hole Azimuth Dip Interval (m) Width (m) Au (g/t) Lode RC Drill Hole Azimuth Dip Interval (m)
Slide 33: Appendix B Con't – Kibali Significant Intercepts 2
Appendix B Con’t –Kibali Significant Intercepts2 Drill Results from Q2 2019 Drill Results from Q2 2019 Drill Results from Q2 2019 Lode RC Drill Hole Azimuth Dip Interval (m) Width (m) Au (g/t) Lode RC Drill Hole Azimuth Dip Interval (m) Width (m) Au (g/t) Lode RC Drill Hole Azimuth Dip Interval (m)
Slide 34: Appendix C – Kibali Significant Intercepts 3
Appendix C –Kibali Significant Intercepts3 Drill Results from Q2 2019 Lode RC Drill Hole Azimuth Dip Interval (m) Width (m) Au (g/t) Hanging wall ORRC0019 290 -60 78 - 90 12 0.69 1. All intercepts calculated using a 0.5 g/t Au cutoff and are uncapped; minimum intercept width is 2 m; internal Foot wa