Barrick Mining Corporation · TSX:ABX
Barrick Mining — Investor Day (November 2024)
25 slides from Barrick Mining's investor day presentation, November 2024
Slide 1: Mineral Resource Management
MINERAL RESOURCE MANAGEMENT Simon Bottoms ` Mineral Resource Management & Evaluation Executive
Slide 2: Strategic investment filters drive our global business
Strategic investment filters drive our global business… Geologically Constrained Quality… Commodity Applies principally to gold and copper We have the right to mine and repatriate profits Fits our values in respect of social license, political risk and Licence to environmental compliance Operate Enh
Slide 3: Tier One Orebodies
Tier One1 Orebodies… “Located in a world-class geological district with potential for organic reserve growth and long-term geologically driven value addition” Kibali has produced 7.7Moz gold since 2013i and still has P&P reserves of 100Mt @ 3.04 for 10.4Mozi SW Sessenge Pit KCD Pit NE Vent Raise 1 V
Slide 4: Organic Growth Strategy
Organic Growth Strategy Since Year End 2019, Barrick has added reserve ounces comparable to many of the largest gold sector acquisitions… But at significantly lower cost! Organic Reserve Replacement Program Inorganic Gold Sector M&Ai, ii GEOi Attributable 120 Large-Scale, High-Cost Acquisitions Smal
Slide 5: Growing Value through Geological Integration
Growing Value through Geological Integration… TR Historical Resource Estimate XXXTR Updated Mineral Resource View Northwest NE NE SW View Northwest SW NE Extents Orebody NE Extents Orebody SW SW North North 3D continuity of sub-unit Basal Slope Facies Fold Trace 100 meters 100 meters Estimation did
Slide 6: Growing Value through Geological Integration
Growing Value through Geological Integration… NGM 20-Year Gold Production Profilei XXXTR Updated Mineral Resource 4,0 Carlin Turquoise Ridge Exploration Upside View Northwest NE SW NE Extents Orebody Cortez Phoenix LOM at Start of JV 3,5 SW 3,0 North 3D continuity 2,5 of sub-unit 2,0 Basal Slope 1,5
Slide 7: Building flexibility and capacity into Tanzania mine plans
Building flexibility and capacity into Tanzania mine plans… Vent Shaft W New Box Cut Design Main E Shaft Investment in upgrade of Bulyanhulu geological model since Acacia take private transaction provides the foundation for improved underground infrastructure New box cut enables production from 2000
Slide 8: Lumwana unlocking hidden value through optimisation
Lumwana unlocking hidden value through optimisation... Current Lumwana... LOM Super Pit Design Cu % Lumwana current annual production 120- 140kt Cu Copper grade model - Mining capacity 150Mt (combined ore and Q2-2024 Pits waste) Mine life produces 2.3Mt Cu until 2041 700m Plant throughput of 27Mtpa
Slide 9: Our core values drive Lumwana mine optimisation process
Our core values drive Lumwana Water Storage Kamisengo Facility mine optimisation process... Pit TSF Planned Reducing infrastructure impactsi... Expansion Conveyor TSF expansion to 2Bt, multi-criteria alternative analysis (MAA) completed in 2023, full FS design completed by end of 2024 Kababisa Pit 2
Slide 10: Fourmile
BARRICK Fourmile NYSE : GOLD TSX : ABX World class mines. World class people.
Slide 11: Fourmile November 2024 Mineral Resource
Fourmile November 2024 Mineral Resource… 2024 drilling to date has confirmed the orebody model and successfully defined additional extensions to the north and west 25 new holes incorporated into the updated November 2024 mineral resource, on the southernmost portion of the orebody, constrained withi
Slide 12: BARRICK (ss)
BARRICK (ss)
Slide 13: Fourmile PEA a new benchmark
Fourmile PEA a new benchmark… Z N Fourmile Goldrush PEAi,5 (100% basis)ii Rose Physicals Blanche Total UG tonnes Mt 23.7 78.0 Total Ore tonnes Sophia 2024 November Mt 17.8 61.5 Dorothy Mineral Resource Annual production tonnes Mtpa 1.4 2.2 PEA mine design Gold head grade g/t 13.6 6.4 Fourmile invent
Slide 14: The Emergence of Greater Leeville
Legend Deposit Footprint Lower Plate Target The Emergence of Greater Leeville Horizon Targets B’ Emerging Target Pathfinders Fault Corridors B B’ Inferred Fault 1800m Igneous Dike Upper Plate 1200m NLV West Rita K Deposit Leeville Prospective Target Horizon Deposit Turf 600m Lower Plate Looking NNW,
Slide 15: 10-Year Gold and Copper Production Outlook
10-YEAR GOLD and COPPER PRODUCTION OUTLOOK (Gold Equivalent Koz)i North America Reko Diq Gold Lumwana SuperPit LATAM and AP LATAM and AP - Copper Reko Diq Copper Africa and Middle East Africa and Middle East - Copper 7,000 6,500 6,000 5,500 5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 0
Slide 16: 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 $700/oz Kibali - - - 42 4
Slide 17: Appendix B – Kibali Historical Production
Appendix B – Kibali Historical Productioni Gold Tonnes Head Year Produced Recovery (%) Milled (kt) Grade (g/t) (koz) 2013 808 3.87 88 91.5 2014 5,546 3.81 527 79 2015 6,833 3.55 643 83.8 2016 7,299 3.1 587 79.8 2017 7,621 2.87 596 83.6 2018 8,218 3.45 807 88.6 2019 7,513 3.8 814 88.7 2020 7,632 3.68
Slide 18: Appendix C – Kibali Significant Intercept Table
Appendix C – Kibali Significant Intercept Tablei i. All intercepts calculated using a 0.5 g/t Au cutoff and are uncapped; Select Kibali Drill Interceptsi minimum intercept width is 2 m; internal dilution is equal to or less than Core Drill Widthiii Widthiii Azimuth Dip Interval (m) Au (g/t) Interval
Slide 19: Appendix D – Leeville Complex Production History
Appendix D – Leeville Complex (Leeville, Pete Bajo, Rita K) Production History Leeville (100% Basis) Pete Bajo (100% Basis) Rita K (100% Basis) Total Leeville Complex (100% Basis) Tonnes Head Gold Tonnes Head Gold Tonnes Head Gold Tonnes Head Gold Year Processed Grade Produced Year Processed Grade P
Slide 20: Appendix E – Greater Leeville Significant Intercept Table and Reserves
Appendix E – Greater Leeville Significant Intercept Tablei and 2023 Mineral Reserves and Mineral Resources i. All intercepts calculated using a 3.4 g/t Au cutoff and are uncapped; minimum Select Leeville Drill Results downhole intercept width is 2.4 m; internal dilution is less than 20% total width.
Slide 21: Appendix F – Assumptions/Outlook
Appendix F – Assumptions/Outlook Key Outlook Assumptions 2024 2025 2026+ Gold Price ($/oz) 1,900 1,400 1,400 Copper Price ($/lb) 3.50 3.00 3.00 Oil Price (WTI) ($/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 22: Endnotes
Technical Information The scientific and technical information contained in this presentation has been reviewed and approved by Craig Fiddes, SME-RM, Lead, Resource Modeling, Nevada Gold Mines; Richard Peattie, MPhil, FAusIMM, Mineral Resources Manager: Africa and Middle East; Simon Bottoms, CGeol,
Slide 23: Endnotes
Endnotes… 5. Fourmile financial metrics and production metrics are based upon preliminary economic assessment which is preliminary in nature because it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would
Slide 24: Endnotes
Endnotes… 13. Attributable Proven and Probable organic gold equivalent reserve additions calculated from the cumulative net change in reserves from year-end 2020 to 2023 using reserve prices for gold equivalent ounce (GEO) conversion as shown in the tables below: Reported Reserve Attributable Gold A
Slide 25: Endnotes
Endnotes… Attributable acquisitions and divestments includes the following: a decrease of 2.2 Moz in proven and probable gold reserves from December 31, 2019 to December 31, 2020, as a result of the divestiture of Barrick's Massawa gold project effective March 4, 2020; and a decrease of 0.91 Moz in