Slide 1: A year of delivery sets up Barrick Tanzania for the future
A year of delivery sets up Barrick Tanzania for the future
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, projects, plans, or future financial or operating performance, constitutes “forward- looking statements”. All statements
Slide 3: To be world class, we need to be global
To be world class, we need to be global… i In Q1 2020, Barrick sold its stake in Massawa to Teranga Gold (“Teranga”) and retained an 11% equity interest in Teranga. In November 2020, Endeavour Mining and Teranga jointly announced an intention to merge.
Slide 4: Barrick's history in Tanzania
Barrick’s history in Tanzania… 2020 2020 2020 2020 2020 24 January: Barrick and April May: Barrick pays 13 October: Maiden Q4: Successful feed campaign at GOT execute Framework Concentrate sales first $100 million in interim cash dividend Bulyanhulu with processing of Agreement resume settlement $25
Slide 5: Delivering on the 2020 Business Plan
Delivering on the 2020 Business Plan… Solid Q4 production performances at North Mara and Bulyanhulu, resulted in both mines delivering near the top end of production guidance Barrick Tanzanian operations paid a maiden interim cash dividend of $250m on October 13, 2020 UG production successfully rest
Slide 6: Safety, Health and Environment
Safety, Health and Environment… Safety Quarterly and annual comparison of LTIFR and TRIFR 1 Lost Time Injury (LTI) recorded at Bulyanhulu in 2.5 Q4 2020; LTIFR2 of 0.28 per million hours worked 2 vs. 0.38 in Q4 2019 1.5 4 LTIs recorded for the year; LTIFR of 0.31 per 1 million hours worked for the r
Slide 7: Safety, Health and Environment…YTD
Safety, Health and Environment…YTD HIV / AIDS HIV/AIDS prevention actions taken mainly at North Mara - 1257 VCTsi Malaria Incidence and HIV Positivity conducted in 2020 with a positivity rateii of 1.19% vs 1538 VCTs in 2019 with a Rate 2019 vs 2020 positivity rate of 1.63% 14% HIV/AIDS programme wil
Slide 8: Environmental Performance
Environmental Performance… General Water Zero Class 1 & 2 incidents recorded in Q4 20204,5 with zero Class 1 Increase in water efficiencies year on year incidents for the year Water Efficiency – Bulyanhulu and Buzwagi received first ISO 14001 accreditation during % Reused & Recycled Q4 2020 76% 80%
Slide 9: North Mara Water Management
North Mara…Water Management Since assuming operational control Barrick has delivered 2019 December 2020 on short-term water management commitments and TSF freeboard successfully restored Upgrade of the existing Water Treatment Plant (WTP) from 2.5MLDi to 28.6MLD through a number of phases throughout
Slide 10: Mining update
Mining…update Improved understanding of orebodies has resulted in a review UG Ore Tonnes6 of more efficient mining methods with some additional 300 271 263 opportunities identified to extend LOM 228 222 200 North Mara transitioned to underground mining during the year and significant improvements ma
Slide 11: Mining…Investing in the Future
Mining…Investing in the Future
Slide 12: Delivered on gold production
Delivered on gold production… Gold Production6 koz 25 27 24 24 9 8 8 27 77 81 79 73 Q1 2020 Q2 2020 Q3 2020 Q4 2020 North Mara Bulyanhulu Buzwagi Full year production of 462koz - well within 2020 guidance Processing of fresh underground material commenced at Bulyanhulu during Q4 2020, following succ
Slide 13: Exploration: drilling confirms upside potential of Gokona system
Exploration…drilling confirms upside potential of Gokona system West East +2.8km Open GOKONA NYABIGENA Surface Upper West Drill Gap Drill Gap Upper East Extn. Phase 1 Phase 2 Shoot Upper West Shoot Au g/t Extn. 2.5-5 Nyabigena Conversion Potential Reserve 5-10 Replacement Deep 400m Area Open >10 Cen
Slide 14: Exploration: Conjunction target at North Mara
Exploration...Conjunction target at North Mara Conjunction – a greenfields opportunity 11km west of Gokona PL 8554 Aim: Generate and rank new targets for scout drilling by N integrating multi element geochemistry with Nyota Target mapping and geophysics Q4 Progress: Final analysis completed on all m
Slide 15: Bulyanhulu orebody
Bulyanhulu orebody… Surface Portal and Shaft East Mine Haulage W-E 2000m Level 2020 Mining Gold g/t Area Drillholes results pending Deep West BGMDDD0073A True width 2.2m at 10.6g/t Refer to Appendix B for additional details including assay results for the significant intercepts
Slide 16: National workforce commitment
National workforce commitment… Recruitment ongoing, specifically at the Tanzania Headcount Q4 2020 Bulyanhulu restart project with over 600 new workers appointed since January 2020 Company Expats Contractor Expats Continued engagement on employment and 58 (2%) 59 (2%) transition plans with the Minin
Slide 17: Local contractors and supply strategy
Local contractors and supply strategy… Key achievements - 2020: $290 million spent on local contractors and suppliers in 2020 and $85 million during Q4 2020 Local content plans approved by the Mining Commission for all operations Successful transition to Tanzanian Security Service company Nguvu Moja
Slide 18: In country investments
In country investments… Investment $ million 2 $800m paid in country in form of taxes, dividends, 30 permits, infrastructure, salaries and payments to local 100 suppliers Of $290m local spend, $168m fulfils Mining 40 290 Commission criteria for an indigenous company. Proportion of indigenous spend a
Slide 19: CSR key focus areas
CSR…key focus areas Regaining Social License To Operate through effective Stakeholder Engagement Resolving past, long outstanding grievances through the reviewed and approved Grievance Mechanism – 84 outstanding in September 2019 to 6 current legacy grievances Addressing Land Legacy Issues - TSF 2 L
Slide 20: CSR Performance
CSR…Performance Fully functional CDCs established to deliberate on all community development matters Partnering with Government in prevention of Covid-19 infection Development of local businesses and entrepreneurs - 5 local businesses formalised at Bulyanhulu Removal of illegal miners; land valuatio
Slide 21: Community Spend 2020
Community Spend…2020 Nyangale CDC at Bulyanhulu 140,000 379,879 65,217 884,687 Year to Date Q4 Spend 884,687 291,304 Spend North Mara Bulyanhulu Buzwagi
Slide 22: Tanzania: a look at 2021
Tanzania…a look at 2021 Deep, lateral extension of Gokona orebody could increase the LOM for North Mara by adding potential resources Increase throughput at the processing plant at North Mara (+390tph) to minimise overall $/t cost Improve North Mara plant recovery by 1% by installing the new 20t oxy
Slide 23: Tanzania: a premier exploration destination in East Africa
Tanzania…a premier exploration destination in East Africa Kibali Large scale mineralised systems with potential for additional world class discoveries DRC Active greenfields exploration programmes have commenced on priority targets North Next phase of permit consolidation Mara underway at North Mara
Slide 24: Power of People and Partnerships
Power of People and Partnerships… Governments Successful partnerships in host NGOs and countries are key to finding, Regulators developing and running world class mines Examples of this are reflected in the success of our operations in Africa where we’ve delivered long term value for all our stakeho
Slide 25: Endnotes
Endnotes… 1. A Tier One Gold Asset is an asset with a reserve potential to deliver a minimum 10-year life, annual production of at least 500,000 ounces of gold and total cash costs per ounce over the mine life that are in the lower half of the industry cost curve. 2. Loss time injury frequency rate
Slide 26: Appendix A: North Mara - Nyabigena Significant Intercept Table
Appendix A: North Mara - Nyabigena Significant Intercept Tablei, ii Nyabigena Central - Resource conversion drilling - Q4 2020 Location Typeiii Drill Hole Azimuth Dip Interval (m) Width (m)iv Au (g/t) Gena Central DDH NGD695 0 -80 558 564 6 1.97 i. All intercepts for Nyabigena are calculated at 1g/t
Slide 27: Appendix A: North Mara - Nyabigena Significant Intercept Table
Appendix A: North Mara - Nyabigena Significant Intercept Tablei, ii Nyabigena – Gokona Gap - Resource conversion drilling - Q4 2020 i. All intercepts for Nyabigena are calculated at 1g/t Au cut-off grade as a rounded marginal cut-off for resource at iii iv US$1,500/oz Au Location Type Drill Hole Azi
Slide 28: Appendix A: North Mara - Gokona Significant Intercept Table
Appendix A: North Mara - Gokona Significant Intercept Tablei, ii Gokona Deep West - Resource conversion drilling - Q4 2020 i. All intercepts calculated at 1.9g/t Au cut-off grade as a rounded marginal cut-off for resource at US$1,500/oz Au Width Location Typeiii Drill Hole Azimuth Dip Interval (m) A
Slide 29: Appendix A: North Mara - Gokona Significant Intercept Table
Appendix A: North Mara - Gokona Significant Intercept Tablei, ii Gokona Upper East Extension - Resource conversion drilling - Q4 2020 i. All intercepts calculated at 1.9g/t Au cut-off grade as a rounded marginal cut-off for resource at iii iv US$1,500/oz Au Location Type Drill Hole Azimuth Dip Inter
Slide 30: Appendix B: Bulyanhulu Deep West Significant Intercept Table
Appendix B: Bulyanhulu Deep West Significant Intercept Tablei, ii Bulyanhulu Deep West Drilling – Q4 2020 i. Capping at 300 g/t Au on the raw data, with minimum of 1m intercept, with at least 60% of Azimuth the resulting intercepts above 2 g/t Au cut-off. Location Type Drill Holeii Dip Interval (m)