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Barrick Mining — Barrick Gold — Technical Presentation (October 2005)

53 slides from Barrick Mining's technical presentation, Oct 4, 2005

  1. Slide 1: Bulyanhulu Mine Tour – Africa Mine Tour October 2005

    BARRICK GOLD CORPORATION Bulyanhulu Mine Tour October 2005 Africa Mine Tour – October 2005 FORWARD LOOKING STATEMENT Certain information contained or incorporated by reference herein, including any information as to our future financial or operating performance, constitutes "forward-looking statemen

  2. Slide 2: Bulyanhulu Mine – Agenda

    BARRICK GOLD CORPORATION Bulyanhulu Mine Tour October 2005 Bulyanhulu Mine – Agenda ƒ Overview ƒ Safety and Health ƒ Mining Operations ƒ Processing Operations ƒ Environmental Stewardship ƒ Community Relations ƒ Vision for Bulyanhulu BARRICK BULYANHULU MINE TOUR – OCTOBER 2005 BARRICK BULYANHULU MINE

  3. Slide 3: Bulyanhulu Mine – Location

    BARRICK GOLD CORPORATION Bulyanhulu Mine Tour October 2005 UGANDA KENYA Bulyanhulu Mine – Location LAKE VICTORIA Mwanza TANZANIA Tulawaka Bulyanhulu Shinyanga Kahama Mombasa Tabora INDIAN OCEAN Zanzibar BARRICK BULYANHULU MINE TOUR – OCTOBER 2005 0 km 100 200 300 400 500 Dar es Salaam LAKE VICTORIA

  4. Slide 4: Bulyanhulu Mine – History

    BARRICK GOLD CORPORATION Bulyanhulu Mine Tour October 2005 Bulyanhulu Mine – History ƒ Acquired Sutton Resources in March 1999 – $280 million – Included both Bulyanhulu and Kabanga – 3.6 million ounces of gold reserves ƒ First production in April 2001 ƒ 1.26 million ounces produced through 2004 ƒ Ex

  5. Slide 5: Bulyanhulu Mine – Overview

    BARRICK GOLD CORPORATION Bulyanhulu Mine Tour October 2005 Bulyanhulu Mine – Overview ƒ Gold reserves: 10.6 Moz (2) ƒ Gold resources: 2.3 Moz (Measured & Indicated) 2.5 Moz (Inferred) ƒ 2005E production: 320-325,000 ounces ƒ 2005E cash cost: $340-350 per ounce (1) BARRICK BULYANHULU MINE TOUR – OCTO

  6. Slide 6: Safety and Health

    BARRICK GOLD CORPORATION Bulyanhulu Mine Tour October 2005 Bulyanhulu Mine – Agenda ƒ Overview ƒ Safety and Health ƒ Mining Operations ƒ Processing Operations ƒ Environmental Stewardship ƒ Community Relations ƒ Vision for Bulyanhulu BARRICK BULYANHULU MINE TOUR – OCTOBER 2005 Safety and Health ƒ Cli

  7. Slide 7: Lost Time Injury Frequency Rate

    BARRICK GOLD CORPORATION Bulyanhulu Mine Tour October 2005 Lost Time Injury Frequency Rate 4 0.7 30 September 2005 3.5 0.59 achieved 818,532 LTI free hours 0.6 3 0.5 0.44 0.42 0.43 2.5 0.35 0.4 2 0.27 TARGET: = <0.3 0.29 0.3 1.5 0.25 0.24 0.2 1 0.5 0.1 0 0 2003 2004 Jan-05 Feb Mar Apr May Jun Jul Au

  8. Slide 8: Safety and Health

    BARRICK GOLD CORPORATION Bulyanhulu Mine Tour October 2005 Bulyanhulu Mine – Agenda ƒ Overview ƒ Safety and Health ƒ Mining Operations ƒ Processing Operations ƒ Environmental Stewardship ƒ Community Relations ƒ Vision for Bulyanhulu BARRICK BULYANHULU MINE TOUR – OCTOBER 2005 BARRICK BULYANHULU MINE

  9. Slide 9: Mining Operations

    BARRICK GOLD CORPORATION Bulyanhulu Mine Tour October 2005 Mining Operations ƒ Underground trackless mining operation ƒ Accessed by surface shaft and internal ramp ƒ Operated 7 days a week – two 10-hr. shifts ƒ Mining methods – mechanized sub-level longhole retreat – conventional cut-and-fill – mech

  10. Slide 10: Mining Operations – Equipment

    BARRICK GOLD CORPORATION Bulyanhulu Mine Tour October 2005 Mining Operations – Equipment ƒ Trucks ƒ Loaders – EJC 417 – 2 – Toro T151D – 14 – EJC 420 – 2 – Toro T301D – 7 – EJC 430 – 12 – Toro T400D – 4 – Toro T1400D – 4 ƒ Jumbos – Toro 006 – 2 – Two Boom (Waste Dev.) Minimatic – 4 ƒ Longhole Drills

  11. Slide 11: Comparison by Mining Method

    BARRICK GOLD CORPORATION Bulyanhulu Mine Tour October 2005 Comparison by Mining Method 2004 & Q2 '05 YTD Tonnes by Mining Method 2004 Q2 '05 YTD 45% 40% 35% 30% % Tonnes 25% 20% 15% 10% 5% 0% Development Longhole Sill Pillar Rec. Cut & Fill Conventional Cntrctr/Test Stope Method BARRICK BULYANHULU M

  12. Slide 12: Process Flowsheet

    BARRICK GOLD CORPORATION Bulyanhulu Mine Tour October 2005 BARRICK BULYANHULU MINE TOUR – OCTOBER 2005 Process Flowsheet Cyclones (8) Gravity Concentrator SAG Mill Shaking Table Furnace Ball Mill Dore Rougher Flotation Cleaner Flotation Cyclones Thickeners Regrind Mill Concentrate Thicker Copper Con

  13. Slide 13: Processing

    BARRICK GOLD CORPORATION Bulyanhulu Mine Tour October 2005 Processing ƒ Crushing and grinding circuit ƒ Gold/silver gravity circuit ƒ Copper/gold/silver flotation circuit ƒ Tailings thickening/filtration circuit ƒ Paste backfill facility ƒ Tailings storage facility ƒ Operated 24 hours per day ƒ Capa

  14. Slide 14: Environmental Stewardship

    BARRICK GOLD CORPORATION Bulyanhulu Mine Tour October 2005 Bulyanhulu Mine – Agenda ƒ Overview ƒ Safety and Health ƒ Mining Operations ƒ Processing Operations ƒ Environmental Stewardship ƒ Community Relations ƒ Vision for Bulyanhulu BARRICK BULYANHULU MINE TOUR – OCTOBER 2005 Environmental Stewardsh

  15. Slide 15: Community Development

    BARRICK GOLD CORPORATION Bulyanhulu Mine Tour October 2005 Bulyanhulu Mine – Agenda ƒ Overview ƒ Safety and Health ƒ Mining Operations ƒ Processing Operations ƒ Environmental Stewardship ƒ Community Relations ƒ Vision for Bulyanhulu BARRICK BULYANHULU MINE TOUR – OCTOBER 2005 Community Development ƒ

  16. Slide 16: Community Development

    BARRICK GOLD CORPORATION Bulyanhulu Mine Tour October 2005 Community Development ƒ Constructed 441 houses at Bugarama and Illogi for employees and their families ƒ On-going project ƒ Further 60 houses under construction BARRICK BULYANHULU MINE TOUR – OCTOBER 2005 Community Development New High Schoo

  17. Slide 17: Vision for Bulyanhulu

    BARRICK GOLD CORPORATION Bulyanhulu Mine Tour October 2005 Bulyanhulu Mine – Agenda ƒ Overview ƒ Safety and Health ƒ Mining Operations ƒ Processing Operations ƒ Environmental Stewardship ƒ Community Relations ƒ Vision for Bulyanhulu BARRICK BULYANHULU MINE TOUR – OCTOBER 2005 Vision for Bulyanhulu T

  18. Slide 18: Continuous Improvement Summary

    BARRICK GOLD CORPORATION Bulyanhulu Mine Tour October 2005 Continuous Improvement Summary ƒ 196 CI ideas & initiatives evaluated to date ƒ 14 implementations in progress; 3 fully implemented Est Annual Initiative Department Savings Rationalize air travel Aviation US$1,300,000 Self Insurance HR 800,0

  19. Slide 19: Project Phoenix

    BARRICK GOLD CORPORATION Bulyanhulu Mine Tour October 2005 Project Phoenix Objective ƒ Present the new ‘Bulyanhulu Vision’ Scope ƒ Select ‘greenfield’ section of orebody to apply the Vision ƒ Develop and evaluate all viable mining options ƒ Select and validate preferred operating strategy ƒ Map out

  20. Slide 20: Reef 2 Initiative Summary

    BARRICK GOLD CORPORATION Bulyanhulu Mine Tour October 2005 BARRICK BULYANHULU MINE TOUR – OCTOBER 2005 Reef 2 Initiative Summary ƒ Reserve and resource geometry – Location: 500m in the hanging wall of Zone 1 – Dimensions: mineralization over 2.5 Km of strike and 800 to 1200m of depth – 1.3M tonnes (

  21. Slide 21: Scavenger Cleaner Tails Project

    BARRICK GOLD CORPORATION Bulyanhulu Mine Tour October 2005 Scavenger Cleaner Tails Project ƒ Part of tailings product that has already been concentrated has leaching capabilities in excess of 70% (500tpd @ about 4.5+g/t material) ƒ Propose leaching with cyanide ƒ Results in estimated incremental ann

  22. Slide 22: Africa Mine Tour – Forward Looking Statement

    BARRICK GOLD CORPORATION Tulawaka Mine Tour October 2005 Africa Mine Tour – October 2005 FORWARD LOOKING STATEMENT Certain information contained or incorporated by reference herein, including any information as to our future financial or operating performance, constitutes "forward-looking statements

  23. Slide 23: Tulawaka – Agenda

    BARRICK GOLD CORPORATION Tulawaka Mine Tour October 2005 Tulawaka – Agenda ƒ Overview ƒ Safety ƒ Succession plan ƒ Mining operations ƒ Processing operations ƒ Environment BARRICK TULAWAKA MINE TOUR – OCTOBER 2005 Overview BARRICK TULAWAKA MINE TOUR – OCTOBER 2005 2

  24. Slide 24: Tulawaka – Location

    BARRICK GOLD CORPORATION Tulawaka Mine Tour October 2005 UGANDA KENYA Tulawaka – Location LAKE VICTORIA Mwanza TANZANIA Tulawaka Bulyanhulu Shinyanga Kahama Mombasa Tabora INDIAN OCEAN Zanzibar BARRICK TULAWAKA MINE TOUR – OCTOBER 2005 0 km 100 200 300 400 500 Dar es Salaam LAKE VICTORIA Mwanza Tula

  25. Slide 25: Tulawaka – History

    BARRICK GOLD CORPORATION Tulawaka Mine Tour October 2005 Geographical Area ƒ 624 Hectares ƒ 10 km Perimeter ƒ Dense vegetation BARRICK TULAWAKA MINE TOUR – OCTOBER 2005 Tulawaka – History ƒ 70/30 joint venture between Pangea Goldfields and Northern Mining Explorations ƒ Barrick acquired Pangea Goldf

  26. Slide 26: Tulawaka – Development

    BARRICK GOLD CORPORATION Tulawaka Mine Tour October 2005 Tulawaka – Development ƒ 14 months from greenfields site to production ƒ Poured first gold on March 15, 2005 ƒ 3.4 million hours no lost time injuries (LTI’s) ƒ $39 million capital costs (70%) BARRICK TULAWAKA MINE TOUR – OCTOBER 2005 Tulawaka

  27. Slide 27: Vision and Goals

    BARRICK GOLD CORPORATION Tulawaka Mine Tour October 2005 Vision and Goals ƒ “Safe Gold Production” ƒ Optimise performance of personnel and mineral resources/reserves ƒ Effective development and retention of quality personnel for Tulawaka and other Barrick operations ƒ Creating a longer future for Tu

  28. Slide 28: Safety – Zero Tolerance

    BARRICK GOLD CORPORATION Tulawaka Mine Tour October 2005 Safety – Zero Tolerance ƒ What have we learned? – Safety comes first, and production is invariably directly linked with safety – Fatigue Management Programme – Operator training Methods / Records / Fraud ƒ Never assume if there are NO incident

  29. Slide 29: Succession Plan

    BARRICK GOLD CORPORATION Tulawaka Mine Tour October 2005 Succession Plan BARRICK TULAWAKA MINE TOUR – OCTOBER 2005 Succession Plan ƒ Part of the preparation for the future of Tulawaka and Barrick in Tanzania ƒ Provides a continuing sequence of qualified people to move up and take over when the curre

  30. Slide 30: Succession Plan

    BARRICK GOLD CORPORATION Tulawaka Mine Tour October 2005 Succession Plan ƒ Develop a program to provide training, ongoing support and mentoring for professionals and new supervisors ƒ Ongoing monitoring of progress to ensure compliance is a fundamental requirement BARRICK TULAWAKA MINE TOUR – OCTOBE

  31. Slide 31: Mining – Systems Developed

    BARRICK GOLD CORPORATION Tulawaka Mine Tour October 2005 Mining Operations BARRICK TULAWAKA MINE TOUR – OCTOBER 2005 Mining – Systems Developed ƒ Surface Mining Procedures and Safety Systems ƒ Succession Planning ƒ Grade Control & Production Databases ƒ Grade Control MP3 replacing Polygonal estimati

  32. Slide 32: Tulawaka East Open Pit

    BARRICK GOLD CORPORATION Tulawaka Mine Tour October 2005 Tulawaka East Open Pit Tulawaka East Open Pit – History ƒ Mining commenced June 2004 ƒ Borrow pit inside final pit limits supplied suitable construction materials to dams ƒ Borrow pit used to experiment with final pit wall profile ƒ New block

  33. Slide 33: Tulawaka East Open Pit

    BARRICK GOLD CORPORATION Tulawaka Mine Tour October 2005 Tulawaka East Open Pit ƒ Mining Department – Integration of all areas Mining, Geology, Development and Exploration activities in same location ƒ 100% Tanzanian Mining Contractor – Caspian Ltd. – Mining contract signed November 2004 BARRICK TUL

  34. Slide 34: Tulawaka East Open Pit

    BARRICK GOLD CORPORATION Tulawaka Mine Tour October 2005 Tulawaka East Open Pit ƒ 3 Stage pit schedule ƒ West Stage (red) accelerated development for access to potential underground operation ƒ Stage 1 (blue) advancing ore zone BARRICK TULAWAKA MINE TOUR – OCTOBER 2005 Mining – Strategic Development

  35. Slide 35: Exploration & Development

    BARRICK GOLD CORPORATION Tulawaka Mine Tour October 2005 Exploration & Development ƒ Tulawaka South ƒ T7 ƒ West Zone ƒ East Pit ƒ Underground feasibility BARRICK TULAWAKA MINE TOUR – OCTOBER 2005 Underground Feasibility Drilling 2005 ƒ In-pit resource drilling ƒ 26 Holes ƒ 5743m Diamond drilling ƒ C

  36. Slide 36: Tulawaka East Zone - Underground

    BARRICK GOLD CORPORATION Tulawaka Mine Tour October 2005 Tulawaka East Zone - Underground ƒ Diamond drilling program completed August 2005 ƒ Feasibility study scheduled to be complete in Q4 2005 BARRICK TULAWAKA MINE TOUR – OCTOBER 2005 Processing BARRICK TULAWAKA MINE TOUR – OCTOBER 2005 15

  37. Slide 37: Processing

    BARRICK GOLD CORPORATION Tulawaka Mine Tour October 2005 Processing ƒ Gravity separation technology (50% of gold recovered) ƒ Conventional carbon-in-leach technology (total gold recovery is +95%) ƒ Tulawaka is the only mine in Tanzania to conduct cyanide destruction and meet the Cyanide Code BARRICK

  38. Slide 38: Processing – Overview

    BARRICK GOLD CORPORATION Tulawaka Mine Tour October 2005 Processing – Overview ƒ Mill availability has been above budget since start up (>95% vs 90%) ƒ Reagent consumption rates to date have been 40% below budget for cyanide and 60% below budget for metabisulphite ƒ Milling costs have been in line w

  39. Slide 39: Processing – Safety & Training

    BARRICK GOLD CORPORATION Tulawaka Mine Tour October 2005 Processing – Safety & Training ƒ A detailed Process Plant Induction was developed and implemented prior to startup – Only those who have been inducted and passed the test are permitted to enter the plant without an escort ƒ Safe Work Procedure

  40. Slide 40: Environment

    BARRICK GOLD CORPORATION Tulawaka Mine Tour October 2005 Environment ƒ Environment Department started activities at Tulawaka Project in 2001 as a regional project of KMCL Environment Department ƒ During 2002 – 2003 collected environmental baseline information for the Tulawaka Project BARRICK TULAWAK

  41. Slide 41: Environment – Department Functions

    BARRICK GOLD CORPORATION Tulawaka Mine Tour October 2005 Environment – Department Functions ƒ Waste management (hazardous and non- hazardous materials management) ƒ Land management (topsoil, flora, re-vegetation) ƒ Provide advice to all departments on environmental issues ƒ Environmental compliance

  42. Slide 42: Tulawaka Mine Tour October 2005 – Footnotes

    BARRICK GOLD CORPORATION Tulawaka Mine Tour October 2005 FOOTNOTES 1. Based on reserves calculated as at December 31, 2004 using an assumed price of $375 per ounce for gold. Calculations have been performed by employees of Barrick under the supervision of Rene L. Marion, P. Eng., Vice President, Tec

  43. Slide 43: Exploration

    BARRICK GOLD CORPORATION Africa Mine Tour October 2005 EXPLORATION Africa Mine Tour – October 2005 FORWARD LOOKING STATEMENT Certain information contained or incorporated by reference herein, including any information as to our future financial or operating performance, constitutes "forward-looking

  44. Slide 44: Lake Victoria District - Tanzania

    BARRICK GOLD CORPORATION Africa Mine Tour October 2005 Lake Victoria District - Tanzania Lake Victoria Mwanza Kabanga Nyanzaga Tulawaka Bulyanhulu Jomu Golden Ridge Lake Victoria Greenstone Belt Shinyanga Kahama Buzwagi BARRICK LAKE VICTORIA DISTRICT EXPLORATION – OCTOBER 2005 Buzwagi BARRICK LAKE V

  45. Slide 45: Buzwagi – Plan Map

    BARRICK GOLD CORPORATION Africa Mine Tour October 2005 Buzwagi – Plan Map ƒ Deposit hosted in granodiorite ƒ Strikes north-south N ƒ 70° dip to east Domain 1 BARRICK LAKE VICTORIA DISTRICT EXPLORATION – OCTOBER 2005 Buzwagi – Long Section Zone 1 (looking west) S N 100 m BARRICK LAKE VICTORIA DISTRIC

  46. Slide 46: Buzwagi – Cross Section #73300

    BARRICK GOLD CORPORATION Africa Mine Tour October 2005 Buzwagi – Cross Section #73300 BARRICK LAKE VICTORIA DISTRICT EXPLORATION – OCTOBER 2005 Buzwagi – Plan View Soil Anomalies Current pit plan BARRICK LAKE VICTORIA DISTRICT EXPLORATION – OCTOBER 2005 4

  47. Slide 47: Lake Victoria District – Exploration

    BARRICK GOLD CORPORATION Africa Mine Tour October 2005 Lake Victoria District – Exploration(1) Nyanzaga ƒ Advanced drill testing 2005 Golden Ridge ƒ Metallurgical testing in 2006 Other ƒ Field work ongoing on other properties BARRICK LAKE VICTORIA DISTRICT EXPLORATION – OCTOBER 2005 (1) Refer to fin

  48. Slide 48: Nyanzaga – Tusker Prospect

    BARRICK GOLD CORPORATION Africa Mine Tour October 2005 Nyanzaga – Tusker Prospect BARRICK LAKE VICTORIA DISTRICT EXPLORATION – OCTOBER 2005 Nyanzaga – Kilimanjaro Prospect BARRICK LAKE VICTORIA DISTRICT EXPLORATION – OCTOBER 2005 6

  49. Slide 49: Kabanga (Nickel) – Lake Victoria District

    BARRICK GOLD CORPORATION Africa Mine Tour October 2005 Kabanga (Nickel) – Lake Victoria District ƒ Acquired in Sutton Resources transaction ƒ Located 400km west of Bulyanhulu ƒ Increased known resource at Kabanga Main and discovered adjacent MNB deposit ƒ Inferred resource of 26 million tonnes @ 2.6

  50. Slide 50: Lake Victoria District - Tanzania

    BARRICK GOLD CORPORATION Africa Mine Tour October 2005 Lake Victoria District - Tanzania Lake Victoria Mwanza Kabanga Nyanzaga Tulawaka Bulyanhulu Jomu Golden Ridge Lake Victoria Greenstone Belt Shinyanga Kahama Buzwagi BARRICK LAKE VICTORIA DISTRICT EXPLORATION – OCTOBER 2005 FOOTNOTES 1. Barrick’s

  51. Slide 51: Mining in Africa

    BARRICK GOLD CORPORATION Africa Mine Tour October 2005 Mining in Africa Africa Mine Tour – October 2005 FORWARD LOOKING STATEMENT Certain information contained or incorporated by reference herein, including any information as to our future financial or operating performance, constitutes "forward-loo

  52. Slide 52: Mining in Tanzania

    BARRICK GOLD CORPORATION Africa Mine Tour October 2005 Mining in Tanzania Gold Mining & Development Agreement ƒ Right to enter loans and use mine as security ƒ Right to export and sell production ƒ Right to open bank accounts outside of Tanzania ƒ Right to retain abroad the proceeds of sale of miner

  53. Slide 53: Mining in Tanzania – Fiscal Regime

    BARRICK GOLD CORPORATION Africa Mine Tour October 2005 Mining in Tanzania Fiscal Regime ƒ 3% royalty ƒ 30% corporate income tax ƒ Depreciation allowance ƒ Withholding taxes ƒ Low import duty ƒ VAT relief ƒ No export tax duty BARRICK BULYANHULU MINE TOUR – OCTOBER 2005 Mining in Tanzania Government A

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