Slide 1: Strategy Investment Execution Results
BARRICK GOLD CORPORATION Morgan Stanley Basic Materials Conference February 21, 2008 Strategy Investment Execution Results Morgan Stanley Conference – New York, Feb. 21, 2008 CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION Certain information contained or incorporated by reference in this presen
Slide 2: Gold is Front Page News
BARRICK GOLD CORPORATION Morgan Stanley Basic Materials Conference February 21, 2008 Gold is Front Page News “Gold is the New Global Currency” – FT, Jan. 7 “Gold is the Hot New Commodity” – WSJ, Jan. 31 “Fed Moves to Curb Recession – Investors Flock to Gold, Fans in the Mainstream” – WSJ, Jan.
Slide 3: Strong Investment Demand
BARRICK GOLD CORPORATION Morgan Stanley Basic Materials Conference February 21, 2008 Strong Investment Demand Credit markets Recession fears Negative real interest rates Inflation concerns Geopolitical risk Global ETFs – 30 M oz or >$25 billion Mine Supply Declining Spending recovering,
Slide 4: Robust Fabrication Demand
BARRICK GOLD CORPORATION Morgan Stanley Basic Materials Conference February 21, 2008 Robust Fabrication Demand 3,826 t 63% Jewellery Demand 2007 2006 21% US$ billions* 53.8 44.3 5% Tonnes 2,407 2,283 15% *at PM fix $695.39 $603.77 17% Other Fabrication 20% Investment and Other Source: GFMS Gold vs T
Slide 5: Positioned for Rising Prices
BARRICK GOLD CORPORATION Morgan Stanley Basic Materials Conference February 21, 2008 Positioned for Rising Prices Placer Dome acquisition – strength, breadth, scale – quality portfolio of assets Assembled industry’s deepest project pipeline Increased leverage to gold price – all operations rec
Slide 6: Competitive Costs
BARRICK GOLD CORPORATION Morgan Stanley Basic Materials Conference February 21, 2008 Competitive Costs Global Cash Costs(1) 1000 Current Gold Price (+$900) 800 Barrick Margin 600 ~$500 US$/oz 400 200 0 0% 20% 40% 60% 80% 100% Cumulative Production (%) -200 Source: GFMS (1) Refer to final slide point
Slide 7: Focus on Cost Management
BARRICK GOLD CORPORATION Morgan Stanley Basic Materials Conference February 21, 2008 Focus on Cost Management Commodity Hedging Supply Chain Initiatives Continuous Improvement Energy Initiatives Cash cost increase in 2008 expected to be significantly lower than percentage increase from 200
Slide 8: Growing Reserves Growing Resources
BARRICK GOLD CORPORATION Morgan Stanley Basic Materials Conference February 21, 2008 Growing Reserves P&P Reserves(1) millions of ounces Reserve Replacement 11.007 124.6 123.1 0.703 Africa 2.729 3.826 N. America 3.201 2.504 S. America 3.579 2.452 Australia 1.498 Depletion Pacific/Asia to Process 9.4
Slide 9: Deepest Project Pipeline
BARRICK GOLD CORPORATION Morgan Stanley Basic Materials Conference February 21, 2008 Deepest Project Pipeline EXPLORATION FEASIBILITY PERMITTING CONSTRUCTION PRODUCTION Ruby Hill Buzwagi Cortez Hills Pueblo Viejo Pascua-Lama Cerro Casale* Donlin Creek Reko Diq Sedibelo Fedorova Kabanga New Projects
Slide 10: Advanced Gold Projects
BARRICK GOLD CORPORATION Morgan Stanley Basic Materials Conference February 21, 2008 Advanced Gold Projects Buzwagi in construction Pueblo Viejo, Dom. Republic Cortez Hills, Nevada Buzwagi, Tanzania Other Gold Projects All in feasibility stage Donlin Creek, Alaska Reko Diq, Pakistan Cerro Casale
Slide 11: Non-Gold Projects
BARRICK GOLD CORPORATION Morgan Stanley Basic Materials Conference February 21, 2008 Non-Gold Projects Feasibility studies on PGM projects expected in 2008 Kabanga Nickel, Tanzania Fedorova PGM, Russia Sedibelo PGM, S. Africa Exploration(1) Supergiant Targets Donlin Creek Hemlo Goldstrike & Cortez
Slide 12: Papua New Guinea 2007 Results
BARRICK GOLD CORPORATION Morgan Stanley Basic Materials Conference February 21, 2008 Papua New Guinea Lihir INDONESIA BARRICK Ok Tedi Porgera BARRICK Kainantu Current & Past Producer Development & Exploration Tolukuma Port Moresby INDIAN OCEAN PACIFIC OCEAN AUSTRALIA Misima 2007 Results 8.06 Moz o
Slide 13: Gold's Superior Returns; Why Barrick?
BARRICK GOLD CORPORATION Morgan Stanley Basic Materials Conference February 21, 2008 Gold’s Superior Returns Asset Mix Performance – to Dec. 31, 2007 % total return 1 year 3 years 5 years DXY (US$ index) -8.3 -5.1 -24.7 3 month T-Bill 5.0 13.5 16.3 S&P 500 5.5 28.2 82.9 Gold 31.0 90.2 139.6 ABX (US)
Slide 14: Footnotes
BARRICK GOLD CORPORATION Morgan Stanley Basic Materials Conference February 21, 2008 Footnotes 1. Total cash costs is defined as cost of sales divided by ounces of gold sold or pounds of copper sold. Total cash costs exclude amortization expense and inventory purchase accounting adjustments. For fur