Barrick Mining Corporation · TSX:ABX
Barrick Mining — Investor Day (November 2022)
25 slides from Barrick Mining's investor day presentation, November 2022
Slide 1: Africa & Middle East Operations
AFRICA & MIDDLE EAST Sebastiaan Bock OPERATIONS Chief Operating Officer Africa & Middle East NYSE : GOLD TSX : ABX World Class Mines, World Class People Investor Day, November 2022
Slide 2: A Prospective Destination with a World Class Team
A Prospective Destination with a World Class Team AME Forecast Gold Equivalent Africa and Middle East (AME) is Africa’s largest gold producer koz Production (attributable)i and operates across several jurisdictions with drastically different 2,500 7 operating social, legal, political and economic en
Slide 3: Strategic Objectives Delivered
Strategic Objectives Delivered 25% reduction in TRIFR in the first nine months of 2022 versus 2020 with zero Class 1 environmental incidents1 Expanding Loulo solar capacity to 60MW and adding a 36MW battery system reduces reliance on thermal power Kibali hydropower augmented by a Battery Ener
Slide 4: Strategic Objectives Delivered
Strategic Objectives Delivered Commencement of pre-feasibility study (PFS) at Lumwana approved with potential to expand the mine life past 2060 Established new and exciting frontier territories in Saudi Arabia and Egypt Growth Tongon continued to extend life in excess of 2 years through succes
Slide 5: Future Strategic Objectives
Future Strategic Objectives • Jabal Sayid included as part of the Saudi Liquid Displacement Program with grid connection targeted for 2025 Sustainability • Additional 17MW Solar farm and 15MW battery planned at Kibali to further reduce the reliance on diesel generators • Complete PFS for Lumwana Sup
Slide 6: Investment into Life Extension and Flexibility
Investment into Life Extension and Flexibility Gold Equivalent Regional Mine Balancei OP Material UG Material Overall improvement in contained material within the 15 year plan, increasing processing flexibility through the introduction of open pit mill feed Investment in underground extensions, such
Slide 7: Fit for Purpose Project Investment Driving Returns
Fit for Purpose Project Investment Driving Returns Current Expansion 20MW Solar Farm 40MW Solar Farm & 36MW Batteries Scope 1 GHG emissions reduction Scope 1 GHG emissions reduction Loulo of 25kt CO2-e of 62kt CO2-e Solar Saves 9.4 million litres of fuel Saves 23 million litres of fuel annually annu
Slide 8: Gold Five-Year Outlook ($1,650/oz Gold Price)
GOLD Five-Year Outlook ($1,650/oz Gold Price) AFRICA AND MIDDLE EAST Gold Production (Attributable), koz Cost of Sales4, Total Cash Costs5 and Gold Capital Expenditures3 (Attributable), $ mln AISC5, $/oz Tongon Bulyanhulu North Mara Kibali Loulo-Gounkoto Cost of Sales4 Total Cash Costs5 AISC5 Total
Slide 9: Copper Five-Year Outlook ($3.50/lb Copper Price)
COPPER Five-Year Outlook ($3.50/lb Copper Price) AFRICA AND MIDDLE EAST Copper Production (Attributable), Mlbs Cost of Sales4, C1 Cash Costs6 and Copper Capital Expenditures3 (Attributable), $ mln AISC6, $/lb Jabal Sayid Lumwana Cost of Sales4 C1 Cash Costs6 AISC6 Total Capital3 500 3.50 450 3.00 40
Slide 10: A Growth Engine for Barrick
A Growth Engine for Barrick Barrick’s extensive exploration portfolio in the AME region is spread over 8 countries with an expanding presence in five demonstrated Tier One Gold and Copper districts West African Craton (WAC) and KKI Loulo-Gounkoto (Mali) Bambadji/Dalema/Bambadji South (Senegal) Tongo
Slide 11: Kibali
Kibali Kibali, DRC (Equity Ownership 45%) 900 100% Production (koz) 800 Strong 700 brownfields 600 Kibali (100%) YTD Q3 2022 2022 Guidance 500 Gold production (koz) 534 755 – 845 work extending 400 Cost of sales4 ($/oz) 1,113 990 – 1,070 long-term 300 200 Total cash costs5 ($/oz) 5 AISC ($/oz) 737 9
Slide 12: Loulo-Gounkoto
Loulo- 800 Loulo-Gounkoto, Mali (Equity Ownership 80%) 100% Production (koz) Gounkoto 700 600 Agility and Loulo-Gounkoto (100%) YTD Q3 2022 2022 Guidance 500 Gold production (koz) 510 640 – 700 foresight 400 Cost of sales4 ($/oz) 1,132 1,070 – 1,150 300 continues to 200 Total cash costs5 ($/oz) 5 AI
Slide 13: Partnerships – ECOWAS Sanctions
Partnerships – ECOWAS Sanctions Any modern mining company requires real Map of West Africa partnerships between the host countries and industry These partnerships are long-term and dynamic and include host governments, suppliers, employees and communities ECOWAS Sanctions 2022 No impact on productio
Slide 14: Tanzania
Tanzania 600 100% Production (koz) Tanzaniai (Equity Ownership 84%) 550 Operational 500 450 North Mara (100%) YTD Q3 2022 2022 Guidance improvement Gold production (koz) 229 270 – 310 400 Cost of sales4 ($/oz) 960 820 – 900 350 Total cash costs5 ($/oz) and expanding 735 670 – 730 300 AISC5 ($/oz) 93
Slide 15: Re-establishing Barrick in Tanzania
Re-establishing Barrick in Tanzania We have regained our social License To Operate (LTO) through the Twiga partnership with the Government of Tanzania and delivering on our promises Successfully dealt with the legacy TSF issue at North Mara where we have spent over $65 million on the project, increa
Slide 16: Tongon
Tongon 250 Tongon, Côte d’Ivoire (Equity Ownership 89.7%) 100% Gold Production (koz) Unrelenting 200 effort to extend 150 Tongon (100%) YTD Q3 2022 2022 Guidance LOM continues Gold production (koz) 131 190 - 220 100 Cost of sales4 ($/oz) 1,932 1,700 – 1,780 to pay off Total cash costs5 ($/oz) 1,560
Slide 17: Lumwana
Lumwana Lumwana, Zambia (Equity Ownership 100%) 400 100% Production (mlb) Long term 350 300 foundation of 250 Lumwana (100%) YTD Q3 2022 2022 Guidance the Barrick Copper production (mlb) 214 250 – 280 200 Cost of Sales4 ($/lb) 2.13 2.20 – 2.50 copper 150 C1 Cash Costs6 ($/lb) 1.77 1.60 – 1.80 100 bu
Slide 18: Jabal Sayid
Jabal Sayid 200 Jabal Sayid, Kingdom of Saudi Arabia (Equity Ownership 50%) 100% Production (mlb) Consistent 150 low-cost Jabal Sayid (100%) YTD Q3 2022 2022 Guidance producer with Copper production (mlb) 115 140 - 160 100 Cost of Sales4 ($/lb) 1.45 1.40 - 1.70 strategic 50 C1 Cash Costs6 ($/lb) 1.2
Slide 19: Young Talent Brings Energy and Innovation
Young Talent Brings Energy and Innovation AME Diversity by Nationality Nurturing our People: AME Age Distribution The AME workforce is young and vibrant (predominantly between age 30-39), which provides the energy, innovation and optimism to deal with a challenging operating environment 63% of emplo
Slide 20: Endnotes
Endnotes 1. Total recordable incident frequency rate (TRIFR) is a ratio calculated as follows: number of recordable injuries x 1,000,000 hours divided by the total number of hours worked. Recordable injuries include fatalities, lost time injuries, restricted duty injuries, and medically treated inju
Slide 21: Endnotes
Endnotes 6. “C1 cash costs” per pound and “All-in sustaining costs” per pound are non-GAAP financial performance measures. “C1 cash costs” per pound is based on cost of sales but excludes the impact of depreciation and royalties and production taxes and includes treatment and refinement charges. “Al
Slide 22: Endnotes
Endnotes 10. 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 Lumwana are stated on a 100% basis as of December 31, 2021. Proven reserves of 68 million tonnes g
Slide 23: Appendix A – Kibali Historical Total Mineral Reserves
Appendix A – 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 $700/oz Kibali - - - 42 4
Slide 24: Appendix B – Loulo-Gounkoto Historical Total Mineral Reserves
Appendix B – Loulo-Gounkoto Historical Total Mineral Reservesi,ii iAs of January 1, 2019, Barrick owns 80% of Loulo-Gounkoto as the operator, with the State of Mali owning 20%. iiFor 2019 onwards, estimated in accordance with National Instrument 43-101 as required by Canadian securities regulatory a
Slide 25: Appendix C – Outlook
Appendix C – Outlook 2022 Key assumptions 2023 2024 2025+ Guidance Gold Price ($/oz) 1,700 1,650 1,300 1,300 Copper Price ($/lb) 4.00 3.50 3.00 3.00 Oil Price (WTI) ($/barrel) 65 90 70 70 AUD Exchange Rate (AUD:USD) 0.75 0.75 0.75 0.75 ARS Exchange Rate (USD:ARS) 100.00 120.00 120.00 120.00 CAD Exch