Slide 1: Fourth Quarter 2010 Results and 2011 Outlook Conference Call / Webcast
Barrick Gold Corporation Fourth Quarter 2010 Results February 17, 2011 Fourth Quarter 2010 Results and 2011 Outlook Conference Call / Webcast February 17, 2011 1 CAUTIONARY STATEMENT ON FORWARD‐LOOKING INFORMATION Certain information contained in this presentation, including any information as to ou
Slide 2: Q4 2010 Results / 2010 Highlights
Barrick Gold Corporation Fourth Quarter 2010 Results February 17, 2011 Q4 2010 Results Aaron Regent Jamie Sokalsky Peter Kinver Kelvin Dushnisky President and CEO Executive Vice President Executive Vice President Executive Vice President and CFO and COO Corporate & Legal Affairs 3 2010 Highlights
Slide 3: 2010 Highlights
Barrick Gold Corporation Fourth Quarter 2010 Results February 17, 2011 2010 Highlights Progressed project pipeline – completed Cortez Hills on time and budget; expanded Cortez operation exceeded 2010 guidance – construction of Pueblo Viejo and Pascua-Lama continues Replaced reserves and grew res
Slide 4: Fourth Quarter Highlights
Barrick Gold Corporation Fourth Quarter 2010 Results February 17, 2011 Fourth Quarter Highlights Gold production: 1.70 Moz at $486/oz(1) – $326/oz on a net cash cost basis(1) Copper production: 82 Mlbs at $1.12/lb(1) Realized prices of $1,368 per ounce and $3.99 per pound(1) Adjusted net inc
Slide 5: Gold Reserves and Resources
Barrick Gold Corporation Fourth Quarter 2010 Results February 17, 2011 Gold Reserves and Resources(1)(1) ounces millions Replaced gold 37.2 34.8 Inferred industry’s largest 31.6 76.3 reserves for fifth 31.9 65.0 61.8 M&I consecutive year 24.9 50.6 Grew M&I 35.0 resources by 24% 138.5 139.8 139.8
Slide 6: Cortez Hills - Exceeds Expectations
Barrick Gold Corporation Fourth Quarter 2010 Results February 17, 2011 Cortez Hills ‐ Exceeds Expectations Cortez Hills built on schedule and budget Expanded Cortez operation exceeded 2010 guidance with production of 1.14 Moz at total cash costs of $312/oz(1) 2011 guidance – 1.30-1.45 Moz at t
Slide 7: Pascua-Lama Project Update
Barrick Gold Corporation Fourth Quarter 2010 Results February 17, 2011 Pascua‐Lama Project Update Process Plant Construction Initial production expected in Argentina in H1 2013 Detailed engineering and procurement over 90% complete Tunnel progress from Chile Pre-production capital expected to
Slide 8: Next Generation of Projects
Barrick Gold Corporation Fourth Quarter 2010 Results February 17, 2011 Next Generation of Projects Turquoise Ridge open pit potential – annual mining rate could conceptually increase to up to ~800 Koz/yr from 150-200 Koz/yr (100% basis)(1) – 2010 reserves of 5.6 M oz, M&I resources of 11.2 Moz and
Slide 9: 2010 Record Financial Results
Barrick Gold Corporation Fourth Quarter 2010 Results February 17, 2011 2010 Record Financial Results Net Income Adjusted Adjusted Operating US$M Net Income(1) Cash Flow(1) US$M US$M 4,783 4783 65% 3,274 3,279 2,899 2899 81% 1,810 2009 2010 2009 2010 2009 Q2 09 2010 Q2 10 -4,274 Hedge Book Eliminatio
Slide 10: Production Outlook
Barrick Gold Corporation Fourth Quarter 2010 Results February 17, 2011 Production Outlook 2011E Production 7.6-8.0 million ounces 2011E Total Cash Costs: $450-$480/oz(1) 2011E Net Cash Costs: $340-$380/oz(1) 9 million ounce production target within five years(2) (1) IFRS basis; net cash cost
Slide 11: Capex Outlook
Barrick Gold Corporation Fourth Quarter 2010 Results February 17, 2011 Capex Outlook Total 2011E capital of $4.20-$4.65B includes: Capital projects – $2.1-$2.3B Open pit and underground mine development – $0.75-$0.85B – waste stripping capitalized under IFRS – high waste stripping phases at Co
Slide 12: Gold is Not in a Bubble
Barrick Gold Corporation Fourth Quarter 2010 Results February 17, 2011 Gold is Not in a Bubble 2000 Gold’s rise since 2001 has been modest compared to historic bubbles 1500 GOLD PRICE 1971‐1982 1000 500 NASDAQ GOLD PRICE 1990‐2002 2001‐2011 Indexed to 100 0 0 1 2 3 4 5 6 7 8 9 10 11 Years Source:
Slide 13: In Closing
Barrick Gold Corporation Fourth Quarter 2010 Results February 17, 2011 In Closing Positive outlook for gold – well positioned with exceptional leverage to the gold price Significant margin growth and record Q4 financial results Cortez Hills performed ahead of expectations Project pipeline co