Barrick Mining Corporation · TSX:ABX
Barrick Mining — Barrick Gold — Cordilleran Exploration Roundup 2003
16 slides from Barrick Mining's conference presentation, January 2003
Slide 1: 20 Years Out: Observations on the Gold Industry
Barrick Gold Corporation Cordilleran Exploration Roundup – January 2003 20 20 YEARS YEARS OUT: OUT: Observations Observations on on the the Gold Gold Industry Industry Alan R. Hill Executive Vice President, Development 20 YEARS OUT: Observations on the Gold Industry AMERICAN BARRICK RESOURCES Renabi
Slide 2: Barrick Gold Corporation
Barrick Gold Corporation Cordilleran Exploration Roundup – January 2003 BARRICK GOLD CORPORATION Eskay Creek Hemlo 2003 Goldstrike Round Mt. Alto Chicama Bulyanhulu Pierina Pascua-Lama Yilgarn Veladero Cowal Kalgoorlie 20 YEARS OUT: Observations on the Gold Industry BARRICK GOLD CORPORATION Betze-Po
Slide 3: 20-Year Spot Gold Prices
Barrick Gold Corporation Cordilleran Exploration Roundup – January 2003 20-YEAR SPOT GOLD PRICES $500 $400 $300 $200 83 85 87 89 91 93 95 97 99 01 03 20 YEARS OUT: Observations on the Gold Industry 20-YEAR SPOT GOLD PRICES $500 $400 $300 $200 83 85 87 89 91 93 95 97 99 01 03 20 YEARS OUT: Observatio
Slide 4: Global Political Shifts
Barrick Gold Corporation Cordilleran Exploration Roundup – January 2003 GLOBAL POLITICAL SHIFTS Build the best business plan Remain flexible and vigilant Opportunity or Obstacle 20 YEARS OUT: Observations on the Gold Industry GLOBAL GOLD MINING INDUSTRY DECLINING NEW MINE PRODUCTION DISCOVERIES 20 Y
Slide 5: Longer Permitting Processes
Barrick Gold Corporation Cordilleran Exploration Roundup – January 2003 LONGER PERMITTING PROCESSES § Open pit permitting and construction 2003 2004 2005 2006 2007 § Underground permitting and construction 2003 2004 2005 2006 2007 2008 2009 2010 20 YEARS OUT: Observations on the Gold Industry GLOBAL
Slide 6: Barrick Development Projects
Barrick Gold Corporation Cordilleran Exploration Roundup – January 2003 BARRICK DEVELOPMENT PROJECTS § Cowal Project, Australia - Acquired with EIS in place § Veladero Project, Argentina - Exploitation agreement signed - Road construction mobilized § Alto Chicama Project, Peru - Working on permittin
Slide 7: 2002 Budget $100M by Region; Exploration Program Metrics
Barrick Gold Corporation Cordilleran Exploration Roundup – January 2003 2002 BUDGET $100M BY REGION (millions of dollars) Chile/ Canada Argentina 3 22 Nevada 11 7 Australia 9 Tanzania Peru 35 3 Other 10 Corporate Development and other 20 YEARS OUT: Observations on the Gold Industry EXPLORATION PROGR
Slide 8: Rising Gold Price Environment
Barrick Gold Corporation Cordilleran Exploration Roundup – January 2003 RISING GOLD PRICE ENVIRONMENT $500 § Development projects and mine production which are marginal - Higher-cost properties $400 - Earnings below cost-of-capital § $350 gold required to sustain $300 exploration and yield the best
Slide 9: Growth Pipeline and Growth Pipeline Economics
Barrick Gold Corporation Cordilleran Exploration Roundup – January 2003 Pascua-Lama GROWTH PIPELINE 800 @ (thousands of ounces @ cost per ounce) $85 Alto Chicama Veladero 500 530 @ @ $130 $155 Cowal 270 @ $170 2005 2005 2006 2008 20 YEARS OUT: Observations on the Gold Industry GROWTH PIPELINE ECONOM
Slide 10: Global Gold Mining Industry
Barrick Gold Corporation Cordilleran Exploration Roundup – January 2003 GLOBAL GOLD MINING INDUSTRY TECHNOLOGY NEW MINE ADVANCES EXPLORATION DECLINING PRODUCTION 20 YEARS OUT: Observations on the Gold Industry GLOBAL GOLD MINING INDUSTRY RISING SPOT GOLD PRICES TECHNOLOGY NEW MINE ADVANCES EXPLORATI
Slide 11: Global Gold Mining Industry
Barrick Gold Corporation Cordilleran Exploration Roundup – January 2003 GLOBAL GOLD MINING INDUSTRY § Requires right market conditions § Governmental cooperation in permitting - Impacts all stakeholders § Build trust as an industry - Practice social responsibility - Become a “force for good” 20 YEAR
Slide 12: Goldstrike and Elko, Nevada; Pierina and Huaraz, Peru
Barrick Gold Corporation Cordilleran Exploration Roundup – January 2003 GOLDSTRIKE AND ELKO, NEVADA 20 YEARS OUT: Observations on the Gold Industry PIERINA AND HUARAZ, PERU 20 YEARS OUT: Observations on the Gold Industry 12
Slide 13: Pierina and Huaraz, Peru; Bulyanhulu and Tanzania
Barrick Gold Corporation Cordilleran Exploration Roundup – January 2003 PIERINA AND HUARAZ, PERU 20 YEARS OUT: Observations on the Gold Industry BULYANHULU AND TANZANIA 20 YEARS OUT: Observations on the Gold Industry 13
Slide 14: Outlook
Barrick Gold Corporation Cordilleran Exploration Roundup – January 2003 PIERINA AND HUARAZ, PERU 20 YEARS OUT: Observations on the Gold Industry GOLD MINING INDUSTRY OUTLOOK 2023 20 YEARS OUT: Observations on the Gold Industry 14
Slide 15: Gold Mining Industry Outlook
Barrick Gold Corporation Cordilleran Exploration Roundup – January 2003 GOLD MINING INDUSTRY OUTLOOK Our future depends on: § Which investments we make § What exploration we undertake § Which projects we develop 20 YEARS OUT: Observations on the Gold Industry GOLD MINING INDUSTRY OUTLOOK Governments
Slide 16: Forward Looking Statement
Barrick Gold Corporation Cordilleran Exploration Roundup – January 2003 FORWARD LOOKING STATEMENT Certain statements included herein regarding realized gold prices, gold lease rates and contango constitute "forward looking statements" within the meaning of the United States Private Securities Litiga