Barrick Mining Corporation · TSX:ABX

Barrick Mining — Barrick Gold — Scotia Capital Precious Metals Conference 2009

18 slides from Barrick Mining's conference presentation, Dec 1, 2009

  1. Slide 1: The Gold Industry Leader

    Barrick Gold Corporation Scotia Capital Precious Metals Conference December 2009 The Gold Industry Leader Scotia Capital Precious Metals Conference December 1, 2009 1 CAUTIONARY STATEMENT ON FORWARD‐LOOKING INFORMATION Certain information contained in this presentation, including any information as

  2. Slide 2: Agenda

    Barrick Gold Corporation Scotia Capital Precious Metals Conference December 2009 Agenda ƒ Key Priorities and Progress ƒ Gold Market ƒ Hedge Book Elimination ƒ Operational Review ƒ Outlook 3 Key Priorities and Progress ƒ Meet production and cost targets – On track to achieve ƒ Increase low cost produ

  3. Slide 3: Key Priorities and Progress

    Barrick Gold Corporation Scotia Capital Precious Metals Conference December 2009 Key Priorities and Progress ƒ Advance next generation of projects – Feasibility studies for Cerro Casale, Donlin Creek, Reko Diq and Kabanga near completion ƒ Replace and grow reserves and resources through disciplined

  4. Slide 4: Global Reflation

    Barrick Gold Corporation Scotia Capital Precious Metals Conference December 2009 Global Reflation 60 42 Gold Price and Global Liquidity 48 35 (year-over-year percentage change; correlation: .62) 36 28 24 21 12 14 0 7 -12 0 Global liquidity: Reserves + US Mbase -24 -7 -36 -14 82 83 84 85 86 87 88 89

  5. Slide 5: Gold's Diversifying Role

    Barrick Gold Corporation Scotia Capital Precious Metals Conference December 2009 Gold’s Diversifying Role Trailing 12 month performance to November 27, 2009 Gold +44.9% MSCI World Equity Index +29.4% S&P +22.5% CRB Index +11.1% Source: Bloomberg 9 Gold’s Diversifying Role Trailing 10 year performanc

  6. Slide 6: Mine Supply Declining

    Barrick Gold Corporation Scotia Capital Precious Metals Conference December 2009 Mine Supply Declining Gold Production (millions of ounces) 85 80 75 Barrick estimate 70 65 60 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 Sources: GFMS for historical production, Barrick for 2009-2011 11 Global R

  7. Slide 7: Net Official Sector Sales

    Barrick Gold Corporation Scotia Capital Precious Metals Conference December 2009 Net Official Sector Sales (tonnes of gold) 663 ƒ Net official sector sales dropped to ~42 tonnes in 479 484 first nine months of 2009 365 ƒ Net buying in last two quarters 236 2009 62 04 05 06 07 08 Q1 Q2 Q3 Source: GFM

  8. Slide 8: Outlook - Bullish on Gold

    Barrick Gold Corporation Scotia Capital Precious Metals Conference December 2009 Outlook ‐ Bullish on Gold ƒ Price supportive macroeconomic environment: – Low interest rates – Increased liquidity – Fiscal policies ƒ Diversification benefits ƒ Growth in investment demand ƒ Mine supply expected to con

  9. Slide 9: Plan to Eliminate Gold Hedges

    Barrick Gold Corporation Scotia Capital Precious Metals Conference December 2009 Plan to Eliminate Gold Hedges Gold Floating Hedges Contracts Total Ounces MTM Liability Liability Liability (millions) ($ billions) ($ billions) ($ billions) As at September 7, 2009 3.0 1.9 3.7 5.6(1) Change in liabilit

  10. Slide 10: Margin Expansion

    Barrick Gold Corporation Scotia Capital Precious Metals Conference December 2009 Margin Expansion Total Cash Costs(1) vs Gold Prices 931 971 Average US$ per ounce 915 Realized Price(1) 873 515 Margin 621 431 479 430 545 439 276 392 265 484 443 452 456 Total Cash Cost 180 214 345 280 212 225 04 05 06

  11. Slide 11: Growing Reserves & Resources

    Barrick Gold Corporation Scotia Capital Precious Metals Conference December 2009 Growing Reserves & Resources(1) ounces millions 34.8 ƒ Track record of Inferred Resources growing reserves 31.9 65.0 and resources M+I 24.9 50.6 Resources ƒ Across the board 35.0 increases in last 138.5 3 years 12.4 123

  12. Slide 12: Balanced Portfolio

    Barrick Gold Corporation Scotia Capital Precious Metals Conference December 2009 Balanced Portfolio 2008 P&P Reserves North America North America 2009E Production 37% Africa 13% North America South 36% Other America Australia 1% 36% Pacific 14% Africa 10% South America 27% Australia South Africa Pac

  13. Slide 13: Impact of Low Cost Mines

    Barrick Gold Corporation Scotia Capital Precious Metals Conference December 2009 Impact of Low Cost Mines ƒ Four new low cost mines coming on stream over the next four years ~2.6 Q1 2010 1st production(1) million Cortez Q1 2013 1st production low cost Q4 2011 Hills 1st production Pascua ounces(2) -L

  14. Slide 14: Cortez Hills Project Update

    Barrick Gold Corporation Scotia Capital Precious Metals Conference December 2009 Cortez Hills Project Update ƒ 1 Moz/yr at total cash costs of $350-$400/oz(1) ƒ Construction 85% complete ƒ On track for first production in Q1 2010(2) ƒ In line with $500M(1) capital budget Carbon Column Plant Conveyor

  15. Slide 15: Pascua-Lama Project Update

    Barrick Gold Corporation Scotia Capital Precious Metals Conference December 2009 Pascua‐Lama Project Update ƒ 750-800 Koz of gold Pioneering works Lay down area in Chile at total cash costs of $20-$50/oz(1) ƒ 35 Moz of silver(1) ƒ On track for first production Q1 2013 ƒ In line with $2.8-$3.0 B capi

  16. Slide 16: Projects In Feasibility

    Barrick Gold Corporation Scotia Capital Precious Metals Conference December 2009 Projects In Feasibility Reko Diq, Pakistan Donlin Creek, Alaska Kabanga, Tanzania Cerro Casale, Chile 31 Projects in Feasibility Gold Copper Nickel Barrick’s share ounces millions pounds billions pounds billions of rese

  17. Slide 17: Acquisition of 70% of El Morro

    Barrick Gold Corporation Scotia Capital Precious Metals Conference December 2009 Acquisition of 70% of El Morro ƒ Agreed to acquire Xstrata’s 70% interest for $465M cash ƒ Adds another high quality, advanced gold-copper asset in mining friendly district ƒ Xstrata reported gold resources of ~8.3 Moz

  18. Slide 18: Outlook

    Barrick Gold Corporation Scotia Capital Precious Metals Conference December 2009 Outlook ƒ Positive outlook for gold ƒ Higher production and lower costs expected in 2010 ƒ World class project pipeline ƒ Simpler structure with elimination of hedge book ƒ Strong financial position ƒ Significant compet

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