Barrick Mining Corporation · TSX:ABX

Barrick Mining — Barrick Gold — Bank of America Merrill Lynch 18th Annual Canada Mining Conference 2012

15 slides from Barrick Mining's conference presentation, Sep 6, 2012

  1. Slide 1: Bank of America-Merrill Lynch 18th Annual Canada Mining Conference

    Bank of America-Merrill Lynch 18th Annual Canada Mining Conference September 6, 2012

  2. Slide 2: Cautionary Statement on Forward-Looking Information

    CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION Certain information contained or incorporated by reference in this presentation, including any information as to our strategy, project plans or future financial or operating performance, constitutes "forward-looking statements". All statements, oth

  3. Slide 3: Gold Industry Leader; Global Portfolio

    Gold Industry Leader  World’s largest gold company  Exceptional gold and copper leverage  Lowest cost senior  Strong financial and dividend performance  Disciplined capital allocation  Profitable, high quality production  Committed to socially responsible mining 1 Global Portfolio 2011 P&P Re

  4. Slide 4: Industry Leading Production/Reserves; Exceptional Leverage to Gold

    Industry Leading Production/Reserves 2011 Gold Production(1) 2011 Gold Reserves(1,2) (Moz) (P&P - Moz) 7.7 139.9 ABX ABX 98.8 5.2 NEM NEM 4.3 80.0 77.6 75.6 AU NCM GFI 3.5 AU 64.7 62.6 GFI GG KGC 2.7 2.6 2.5 NCM KGC GG (1) Source: Company reports. (2) See final slide #5 3 Exceptional Leverage to Gol

  5. Slide 5: Lowest Cost Senior; Barrick Has Outperformed

    Lowest Cost Senior Global Gold Industry Total Cash Cost Curve(1) $2,000 $1,500 $1,000 Peer Group 2012E Average(2) ~$740 US$/oz $500 Barrick 2012E $550-$575(3) Pueblo Viejo $300 to $350(3) $0 Pascua-Lama $0 to -$150(3) ̶ $500 0% 25% 50% 75% 100% Cumulative Production (1) Source: GFMS (Q2 2012 data);

  6. Slide 6: Returning Capital; H1 2012 Financial & Operating Results

    Returning Capital Annualized Dividend(1) 80 US cents per share 60 48 40 40 30 22 2006 2007 2008 2009 2010 2011 2012 (1) Calculation based on annualizing the last dividend paid in the respective year (2) See final slide #6 7 H1 2012 Financial & Operating Results (Millions) Adjusted net earnings(1) $1

  7. Slide 7: 2012 Operating Outlook; Disciplined Capital Allocation

    2012 Operating Outlook Gold Production (Moz) 7.3-7.8 Total Cash Costs (US$/oz) 550-575 Net Cash Costs (US$/oz) 460-500(1) Copper Production (Mlbs) ~450 C1 Cash Costs (US$/lb) 2.10-2.30 (1) Net cash costs based on assumed realized copper price of $3.50/lb for the balance of 2012. See final slide #1 9

  8. Slide 8: Disciplined Capital Allocation; Profitable Production

    Disciplined Capital Allocation Cost Debt Reductions Reduction Key Areas of Return Capital Portfolio Focus Review and to Shareholders Optimization Attractive Return Investments 11 Profitable Production  Gold production of ~8 Moz by 2015  Copper production of ~600 Mlbs by 2015(1)  High-quality, pro

  9. Slide 9: World Class Operations and Projects; Key Gold Assets

    World Class Operations and Projects Total Global Gold Mines by Size 6 mines (2011 gold production) >1 Moz Barrick Mines Other Mines 2 8 mines >800 Koz Goldstrike Cortez 21 mines >500 Koz 3 156 mines >100 Koz 6 ~1,000 Koz Pueblo Viejo(1) 1 Project ~800 Koz 19 Pascua-Lama Sources: Metals Economics Gro

  10. Slide 10: Pueblo Viejo - ramp up underway; long life, low cost

    Pueblo Viejo - ramp up underway Autoclave  Completed on schedule Operating Deck and within capital guidance id  First gold poured in August Conveyor from Crusher  100-125K equity oz of production in 2012  $400-$500/oz total cash costs in 2012(1) All figures are Barrick’s 60% share (1) See final

  11. Slide 11: Pascua-Lama - in construction; progress review

    Pascua-Lama - in construction One of the world’s largest, lowest cost gold mines  800-850 Koz of average annual gold production(1)  35 Moz of average annual silver production(1)  $0 to negative $150/oz total cash costs(1)  ~18 Moz of gold reserves and ~676 Moz of silver in gold reserves(2)  25

  12. Slide 12: Pascua-Lama; Jabal Sayid

    Pascua-Lama Covered Stockpile and Grinding Building Process Plant – CIL Leaching Area 19 Jabal Sayid Crusher  Expected to be within capex Operational guidance of ~$400 M(1)  100-130 Mlbs of average annual copper production in first full five years(2)  C1 cash costs of $1.50- Process Circuit $1.70

  13. Slide 13: Lumwana - Chimi expansion; positioned for 2013

    Lumwana - Chimi expansion Large, long life asset  Substantially improved production of ~250 Mlbs at lower C1 cash costs expected in 2013  Expansion into Chimiwungo is on schedule – crusher and conveyor system commissioning completed in July – ore processed in August – ~11 M tonnes of ore stockpile

  14. Slide 14: 2012 Exploration Program; Disciplined, Profitable Production

    2012 Exploration Program(1) North America North America 45% Africa 5% Africa Australia Pacific Africa 20% Copper South 20% America South 10% America Australia Pacific  2012 exploration budget of $450-$490M Mine Project reflecting 2011 success Exploration Top 3 (1) See final slide #7 Main Exploratio

  15. Slide 15: Footnotes

    Bank of America-Merrill Lynch 18th Annual Canada Mining Conference September 6, 2012 25 Footnotes 1. Adjusted net earnings, EBITDA, adjusted operating cash flow, gold total and net cash costs per ounce, gold total cash margins per ounce, C1 copper cash costs per pound and C1 copper cash margins per

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