Barrick Mining Corporation · TSX:ABX
Barrick Mining — BMO 34th Global Metals, Mining & Critical Minerals Conference (February 2025)
20 slides from Barrick Mining's conference presentation, Feb 24, 2025
Slide 1: Building Barrick for the Future
Building Barrick for the Future… BMO 34th Global Metals, Mining & Critical Minerals Conference
Slide 2: Cautionary Statement on Forward-Looking Information
Cautionary Statement on Forward-Looking Information… Certain information contained or incorporated by reference in this presentation, including any information as to our strategy, projects, plans or future financial or operating performance, constitutes “forward-looking statements”. All statements,
Slide 3: Group Highlights Q4 2024
Group Highlights… Q4 2024 $0.57 104% Q/Q $1.22 69% Y/Y ■ Achieved 2024 production guidance for gold and copper Net earnings per share Net earnings per share Q4 adjusted Net EPS1 rose 50% y/y to $1.26 despite ~10% impact due to Loulo-Gounkoto export restriction Quarterly dividend maintained at $0
Slide 4: North America
Improvement in production and costs, driven by a strong Q4 performance across North America… the complex and particularly from three Tier One9 assets Barrick’s Fourmile proceeds to prefeasibility study on back of successful drilling program Several growth opportunities identified Donlin as a result
Slide 5: Key Growth Project: Fourmile gold project
Key Growth Project…Fourmile gold projecti Proceeding to Prefeasibility Study 2024 mineral resource and PEA covers approximately one-third of the known orebody, as defined by drilling to date Incremental silicification of breccias from Rose through to Dorothy result in increasing grades and better ge
Slide 6: Latin America & Asia Pacific
Latin America & Asia Pacific… Q/q improvement at Pueblo Viejo across flotation, CIL2 circuit stability and recovery step up Reko Diq Reko Diq feasibility study completed and 13 Moz (50%) INDIA and 7.3 Mt attributable gold and copper reserves added from Reko Diq10 PAKISTAN, Balochistan Veladero deliv
Slide 7: Reko Diq Copper-Gold Project Feasibility
Reko Diq Copper-Gold Unlocking a transformative Tier One Asset9 Project Feasibility (100% basis)10 2024 P&P Mineral Reserve10 3Bt @ 0.48% for 15Mt Cu (100% basis) 2.9Bt @ 0.28g/t for 26Moz Au Mine Life (yrs) based on reserves 37 Phase 1 (5 yrs) Phase 2 (32 yrs) Throughput (Mtpa) 45 90 460 (2034-2043
Slide 8: Africa & Middle East
Loulo-Gounkoto - Production increased 8% q/q, exceeding guidance for the year Africa & Middle East… Kibali - Gold production increased 13% q/q driven by higher grades and slightly higher throughput – highest annual throughput since commissioning Lumwana Super Pit Expansion permitted and engineering
Slide 9: Lumwana Super Pit: Lumwana Feasibility Results
Lumwana Super Pit… Lumwana Feasibility Results Transformation into a Top 25 2024 Mineral Reserve11 (100% attrib.) P&P: 1.6Bt @ 0.52% for 8.3Mt Cu Copper Producer11 Mine Life (yrs) 31 Throughput (Mtpa) 52 (54 peak design) Avg Cu Produced (ktpa)i 240 Average Annual TTMiii (Mt) 287 LOM Super Pit Design
Slide 10: Peerless replacement of reserve depletion
Peerless replacement of reserve depletion… Since year end 2019 >180% 12 of company’s gold Attributable Proven & Probable reserve depletion replaced – adding almost 46Moz Million Oz Gold Mineral Reserves12 of attributable proven and probable reserves15 100 (excluding acquisitions and divestments) 90
Slide 11: Positioning Barrick to capitalize on the copper fundamentals
Positioning Barrick to capitalize on the copper fundamentals… Group attributable copper reserves growth Attributable Proven & Probable Million Tonnes represents 224% increase in attributable 20 Copper Mineral Reserves12 metal at >13% higher grade year-on-year12 18 16 Lumwana FS adds 5.5Mt of copper
Slide 12: 5-Year GEO Production Forecast and Gold Costs
5-Year GEO Production Forecasti and Gold Costs… Gold Production (Attributable), koz Gold Cost of Sales5, Gold Total Cash Costs4 and Total Capital Expenditures8 (Attributable), $ mln Gold AISC4, $/oz North America LATAM and AP Africa and Middle East Copper production, GEO* 7000 Assuming production fr
Slide 13: Building Barrick for the Future
Building Barrick for the Future… 30% growth in GEOs by end of decade supported by current reserves14 Pueblo Viejo gold mine expansion – 800koz p.a. for 20 years15 2 Feasibility studies now completed and progressed to development – Lumwana copper mine expansion Reko Diq copper-gold projecti Fourmile
Slide 14: Connect with us
BARRICK GOLD CORPORATION Corporate Office: TD Canada Trust Tower 161 Bay Street, Suite 3700 Toronto, Canada M5J 2S1 Tel: +1 416 861-9911 Toll-free throughout North America: 1 800 720-7415 Connect with us 14
Slide 15: Appendix A – Assumptions/Outlook
Appendix A – Assumptions/Outlook Key Outlook Assumptions 2025 2026 2027+ Gold Price ($/oz) 2,400 2,400 2,400 Copper Price ($/lb) 4.00 4.00 4.00 Oil Price (WTI) ($/barrel) 80 70 70 AUD Exchange Rate (AUD:USD) 0.75 0.75 0.75 ARS Exchange Rate (USD:ARS) 1,000 1,000 1,000 CAD Exchange Rate (USD:CAD) 1.3
Slide 16: Technical Information Endnotes
Technical Information The scientific and technical information contained in this presentation has been reviewed and approved by Craig Fiddes, SME-RM, Lead, Resource Modeling, Nevada Gold Mines; Richard Peattie, MPhil, FAusIMM, Mineral Resources Manager: Africa and Middle East; Peter Jones, AIG, Mana
Slide 17: Endnotes
Endnotes… 4. “Total cash costs” per ounce and “All-in sustaining costs” per ounce are non-GAAP financial measures. “Total cash costs” per ounce starts with cost of sales related to gold production and removes depreciation, the non- controlling interest of cost of sales, and includes by-product credi
Slide 18: Endnotes
Endnotes… 10. Reko Diq probable reserves of 1,400 million tonnes grading 0.28 g/t representing 13 million ounces of gold, probable reserves of 1,500 million tonnes grading 0.48% representing 7.3 million tonnes of copper, indicated resources of 1,800 million tonnes grading 0.25 g/t representing 15 mi
Slide 19: Endnotes
Endnotes… 12. Proven and probable reserve gains from cumulative net change in reserves from year end 2019 to 2024. Reserve replacement percentage is calculated from the cumulative net change in reserves from 2020 to 2024 divided by the cumulative depletion in reserves from year end 2019 to 2024 as s
Slide 20: Endnotes
Endnotes… Attributable acquisitions and divestments includes the following: a decrease of 2.2 Moz in proven and probable gold reserves from December 31, 2019 to December 31, 2020, as a result of the divestiture of Barrick's Massawa gold project effective March 4, 2020; and a decrease of 0.91 Moz in