Slide 1: Kibali achieves record year and remains committed to partnership philosophy
Operated by Kibali achieves record year and remains committed to partnership philosophy…
Slide 2: Safety, health and environment
Safety, health and environment… Safety No lost time injuries recorded In Q4 2018 Lost time injury frequency rate in 2018 of 0.15 vs 0.63 in 2017 LTIFR/million hours ISO 45001: successfully Certified after stage 2 assessment worked 7 Environment 6 840 indigenous trees planted on site in Q4 and 10 130
Slide 3: Safety, health and environment
Safety, health and environment… HIV HIV positivity rate % 20 Prevalence rate of 2.8% in Q4 2018 vs 3.5% in Q4 2017 15 Volunteer counselling tests campaigned Various activities conducted: mass sensitisation, condom 10 distribution at hotels and bars, distribution of flyers 5 Malaria 0 Malaria inciden
Slide 4: Q4 2018… another strong quarter
Q4 2018…another strong quarter beating 2018 guidance No lost time injuries recorded Record gold production for Kibali mine of 807 251 ounces Achieved above nameplate throughput and nameplate recovery and UG production Gorumbwa resettlement completed Palm oil project still on hold in current investme
Slide 5: Plant performance
Plant performance… plant recovery Q1 2017 to Q4 2018 Recovery (%) 92 89.9 90 89.2 89.3 88 85.8 86 84.3 84.7 84 83.5 82 81.1 80 78 76 Q1-2017 Q2-2017 Q3-2017 Q4-2017 Q1-2018 Q2-2018 Q3-2018 Q4-2018
Slide 6: Plant performance throughput
Plant performance…throughput Tonnes treated from 2014 to 2018 Tonnes treated per year (million) 9 8 7 6 5 4 3 2 1 0 2014 2015 2016 2017 2018
Slide 7: Kibali underground mining
Kibali underground mining… underground ore production doubles year on year Underground ore tonnes Tonnes 000 Continues successful transition to owner 4000 mining initiated in Q3 2018 with world 3500 class underground mining standards 3000 Production transition from trucking to an efficient shaft hoi
Slide 8: Kibali cumulative capital versus production
Kibali…cumulative capital versus production koz $ billion 900 3.0 800 2.5 700 600 2.0 500 1.5 400 300 1.0 200 0.5 100 - 0.0 2012 2013 2014 2015 2016 2017 2018 Oz actual Cumulative capital expenditure
Slide 9: Underground development of KCD deposit
Underground development of KCD deposit…LoM design with 3000, 5000 and 9000 lode opportunities Gorumbwa Open pit :– KCD PB#3 :– Sessenge 372koz @ 2.81 330koz @ 2.8g/t KCD Open pit :– Open pit PB#2 North 298koz @ 2.45g/t 3000 Lode Holes completed up plunge extension Holes planned UG – 2.1Mt @ 4.97g/t
Slide 10: Kibali - Oere moving to advanced target
Kibali - Oere…moving to advanced target! ORRC0001 8m @ 3g/t Fence 8 Drill program plan view First phase reverse circulation drilling (18 holes) over 4m @ 4.4g/t Weighted average 12m @ 4.16g/t N eight fences at irregular spacing confirmed geological ORRC0002A 6m @ 0.50g/t over 100m continuity with Ka
Slide 11: KZ structure pipeline of projects reinforces prospectivity
KZ structure…pipeline of projects reinforces prospectivity and opportunities Kalimva – Ikamva Matiko N Kalimva Upsites identified outside of the known Kalimva-Ikamva deposit Ikamva include: KZ trend Oere Ikamva NW and East (HW and FW BIF mineralisation) Ndala Village Kalimva-Ikamva hinge zone Azambi
Slide 12: Kibali employees in Q4 2018
Kibali employees in Q4 2018… Expat Expat Contractors Employees 134 (3%) 252 (5%) National Casuals National 118 (3%) Employees 1405 (29%) Nationals : 92% National Expatriates: 8% Contractors 2957 (61%)
Slide 13: Local contractors and supply strategy
Local contractors and supply strategy… more than CSR $39.1 million spent on local contractors during Q4 2018 Cargotrans initiated the replacement of its fleet, current total number of trucks: 45 Ongoing civil construction and roadworks performed by Congolese contractors (Traminco, Teichmann and IOB)
Slide 14: In country investment 2010 through to Q4 2018
In country investment…2010 through to Q4 2018 $2.54Bn paid by Kibali in the form of taxes, permits, Nzoro Power line Road infrastructure, salaries and payments to local suppliers ARU - Ariwara Road US$ million Northern By-pass road Visible contributions directly Southern By-pass road in the area of
Slide 15: Committed to our partnership philosophy
Committed to our partnership philosophy… local and international spend Specialist contracts* Construction General services Total contract Shaft sinking contract* and supply chain spend* Underground mining contract* Master drilling $ million $ million $ million $ million 2500 250 800 3500 700 3000 20
Slide 16: Kibali makes a difference Q4 2018
Kibali makes a difference…Q4 2018 Local Economic Development Projects (YTD) Uele Coopec has received $63 967 in reimbursements (YTD) Nuns Lagae Shop generated a revenue of $9 698 (Q4) Nuns Guest House Tabitha made $6 775 of sales in Q3 Education: Aru library now complete and equipped Education: Kiba
Slide 17: Some of our achievements
Some of our achievements… VIP stand at the now complete Surur Stadium Boxing match Container of books Handover of books
Slide 18: Agribusiness local supply to Kibali
Agribusiness…local supply to Kibali Egg production: 182 959 eggs produced from the main community projects 13 small-scale pork projects with 340 heads in the community and 7 tonnes of pork meat sold (GCS and the community) Cocoa project 116 400 seedlings transplanted for an estimated 98ha. This brin
Slide 19: Outstanding legal and fiscal issues
Outstanding legal and fiscal issues… we remain committed to amicable solutions No progress in the mitigation of the administrative burden relating to the new mining code Facing challenges for repayment of loans with a significant amount of cash built up and locked in country FPI tax (tax to promote
Slide 20: Kibali a look at 2019
Kibali…a look at 2019 Optimise underground automation and further increase delivery of UG ore Continue with skills development for Congolese management and technicians Continue with the development of our management team Engage with the DRC government and institutions to address outstanding matters
Slide 21: Investing in the future
Investing in the future…
Slide 22: DRC Ngayu Belt prioritised targets with regional geological interpretation
DRC…Ngayu Belt prioritised targets with regional geological interpretation Yasua N Yambenda – Yasua – Anguluku Yambenda Drilling to test concepts and models scheduled for Q1 2019 Identified target Follow up target Imva fold area Phase 1 geochemical survey results confirmed the wider- spaced ancient
Slide 23: New Barrick borne out of Randgold-Barrick merger
New Barrick…borne out of Randgold-Barrick merger
Slide 24: New Barrick
New Barrick… 24 September - agreement obtained from Randgold’s and Barrick’s boards for a share-for-share merger, free of cash transfer Emerged from a number of discussions while each company had been looking at various opportunities for value creation No change in local shareholding Kibali executiv
Slide 25: New Barrick extensive land positions in prolific gold districts
New Barrick…extensive land positions in many of the world’s prolific gold districts M&I Resources1 Donlin Gold (50%) 4% 23% 43% Golden Sunlight Hemlo Turquoise Ridge (75%) Loulo-Gounkoto Goldstrike (80%) 30% Pueblo Viejo Jabal Sayid (50%) Cortez Massawa (60%) Morila (40%) Goldrush/ (83.25%) Fourmile
Slide 26: A proven management team committed to value creation
A proven management team committed to value creation… John Thornton New Barrick Executive Chairman Board of Directors Mark Bristow President and CEO Kevin Thomson COO Graham Shuttleworth COO COO SEVP Strategic Catherine Raw Mark Hill Willem Jacobs Rodney Quick Rob Krcmarov SEVP CFO Matters North Lat
Slide 27: Disclaimer
Disclaimer… Cautionary Statement on Forward-Looking Information Certain information contained in this presentation, including any information as to Barrick’s strategy, plans, or future financial or operating performance, constitutes “forward-looking statements”. All statements, other than statements
Slide 28: Appendix A - Kibali KCD 5000 Down Plunge
Appendix A - Kibali KCD 5000 Down Plunge Significant Intercepts 1 Drill results from Q3 & Q4 2018 Core Drill Hole AZIMUTH DIP Interval (m) Width (m3) Au (g/t) 235.3 237.5 2.2 3.06 KCDU1872 342 -1 260.9 263.6 2.6 2.64 315.6 320.0 4.4 4.32 1. All intercepts calculated using 2.4g/t Au cutoff and are KC
Slide 29: Appendix B – Kibali KCD 5000 Hanging Wall
Appendix B – Kibali KCD 5000 Hanging Wall Significant Intercepts 2 Drill results from Q4 2018 1. All intercepts calculated using a 0.5 g/t Au cutoff and are Core Drill Hole AZIMUTH DIP Interval (m) Width (m3) Au (g/t) uncapped; minimum intercept width is 2 m; internal dilution is equal KCDU177A 327
Slide 30: Appendix C - KCD-Sesenge 9000 Lode Gap
Appendix C - KCD-Sesenge 9000 LODE GAP Significant Intercepts 3 Drill results from Q3 & Q4 2018 Core Drill Hole AZIMUTH DIP Interval (m) Width (m3) Au (g/t) 166.0 168.2 2.2 7.1 1. All intercepts calculated using 2.4g/t Au cutoff and are KCDU2000 52 -86 190.6 206.5 15.9 3.7 uncapped, minimum intercep
Slide 31: Appendix A – Kibali Oere
Appendix A – Kibali O,ere Significant Intercepts 4 1. All intercepts calculated using a 0.5 g/t Au cutoff and are uncapped; minimum intercept width is 2 m; internal dilution is equal to or less Drill Results from Q4 2018 than 25% total width Fence RC Drill Hole Azimuth Dip Interval (m) Width (m) Au