Barrick Mining Corporation · TSX:ABX
Barrick Mining — Barrick Gold — Investor Day (November 2020)
164 slides from Barrick Mining's investor day presentation, November 2020
Slide 1: Building the Most Valued Mining Company
Building the Most Valued Mining Company… focusing on creating long-term value through responsible and sustainably profitable mining Investor Day 2020, Mark Bristow President and CEO
Slide 2: Agenda
Agenda… Time (all ET) Presenter Topic 09:00 – 09:20 Mark Bristow Intro and overview 09:20 – 09:40 Rob Krcmarov Exploration Mineral Resource Management & 09:40 – 10:00 Rodney Quick Evaluation 10:00 – 10:20 Catherine Raw North America Operations Break 10:30 – 10:50 Mark Hill Latam & Asia Pacific Opera
Slide 3: 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, o
Slide 4: Adding Value
Our vision is to be the world’s most valued gold mining business by finding, developing and owning the best assets, with the best people, to deliver sustainable returns for our owners and partners… ADDING VALUE Non-Core Asset Monetisation: Execution and US$ 1.6 Bni Delivery KCGM Nevada Gold Mines JV
Slide 5: To be world class, we need to be global
To be world class, we need to be global… Top gold mines by tonnes of gold produced annually Canadian Shield Baltica Siberian Craton Muruntau Olympiada 66.0 43.2 Arabian Nubian 3 Shield 2 North 1 West African Nevada Gold Mines Pueblo Viejo Craton China 115.8 30.6 Craton 4 Loulo- Gounkoto 9 Grasberg 2
Slide 6: Focusing on Tier One assets
Focusing on Tier One assets… In 2019, Barrick produced 5.5 million ounces of gold at cost of sales3 of $1,005/oz, total cash costs4 of $671/oz and AISC4 of $894/oz North Americai Donlin Gold (50%) Africa and Middle Easti Production: 2,431koz Production: 1,544koz Cost of Sales3: $943/oz Cost of Sales
Slide 7: The World's Most Valued Gold Miner
The World’s Most Valued Gold Miner… Key Strategic Pillars What We Have Achieved in 2020 Pueblo Viejo plant and tailings expansion on track, with EIA approval of the plant expansion received in Q3/20 Goldrush and the Turquoise Ridge Third Shaft continues to advance on schedule and on budget Indus
Slide 8: Performance driven by a clear strategy
Performance driven by a clear strategy… Key highlights: Cumulative OCFi $ million Cumulative FCF2 $ million 7000 4000 Strong cash flow allowed us to more than double our 6000 3000 5000 dividend per share since the 4000 Merger and significantly 2000 reduce our net debt from 3000 $4.2B to $0.4B, wit
Slide 9: Relative Share Price Performance
Relative Share Price Performance… Relative Share Price Performance since Relative Share Price Performance YTD merger announcement with Randgold Base = 100 Base = 100 300 170 Barrick: 39% Barrick: 146% 160 275 150 250 140 225 130 200 120 175 110 Spot Gold: 23% 100 150 90 GDX: 27% 125 80 Spot Gold: 55
Slide 10: Endnotes
Endnotes 1. A Tier One Gold Asset is a mine with a stated life in excess of 10 years, annual production of at least 500,000 ounces of gold and total cash costs per ounce over the mine life that are in the lower half of the industry cost curve. 2. “Free cash flow” is a non-GAAP financial performance
Slide 11: Exploration at Barrick
Exploration at Barrick Investor Day 2020, Rob Krcmarov EVP, Exploration & Growth
Slide 12: Exploration strategy that delivers value
Exploration strategy that delivers value… Growth through organic discovery and post-acquisition addition Low-cost accretive value for Barrick Carlin Complex Donlin Gold Cortez Pueblo Viejo Turquoise Ridge Kibali Loulo-Gounkoto Veladero Lagunas Norte Alturas Goldrush Tongon Fourmile Acquired Adde
Slide 13: Orebody knowledge...key to optimizing value
Orebody knowledge...key to optimizing value Focus on geological controls, orebody knowledge and integrated planning is our distinct competitive advantage Exploration Geological progress since merger with Randgold Implementation of Exploration and MRM function and culture at all mines. Representati
Slide 14: To be World Class requires a global presence
To be World Class requires a global presence… Operating presence in prolific gold districts Dominant district scale land positions Understand mineral systems at district and deposit scale Barrick mines and projects 3 - 5Moz 5 – 10Moz Exploration presence in under-explored or emerging frontiers >10Mo
Slide 15: Cortez District opportunities
Cortez District…opportunities Nevada, USA Cortez Complex (100% basis)2 P&P: 9.9Moz at 2.77g/t Dorothyi Robertson M&I: 21.3Moz at 3.50g/t N 2.7m at 180.3g/t (FM19-14D) Inferred: 3.6Moz at 1.44g/t Dorothy Crossroads to Sophiai Sophiai Robertson 9.9m at 48.4g/t (FM20-153D) Fourmile 9.8m at 48.5g/t (FM1
Slide 16: Carlin Trend exploration
Carlin Trend…exploration Nevada, USA Evidence of high grade mineralisation Drilling in progress at Ren between Basin Bounding Fault and Leeville N “Sinkhole” breccia target Multiple intercepts up to Early drill results in Leeville area show 5.2m at 10.9g/t along the Goldstrike North Leeville - follo
Slide 17: Leeville growth
Leeville…growth Nevada, USA 2019 Orebody Footprint Basin Bounding Fault is the Model Improvements 2019 Inferred Resource Expand Search Space Growth Potential western boundary of the deposit A A’ Mine Extent Upper Plate Drill intercepts > 4.1 g/t New drill results together with No Significant Interce
Slide 18: Turquoise Ridge – Twin Creeks
Turquoise Ridge – Twin Creeks… Nevada, USA Sparsely tested corridor between two giant deposits Focus is on improving deposit geology at both mines, in parallel with re-logging available deep drill holes Structurally complex with evidence of leakage Multiple targets emerging for both expansion and ne
Slide 19: Hemlo doubling the search space
Hemlo…doubling the search space Ontario, Canada Black Fly Zone Black Fly trench program extents Doubled the search space by partnering on two Projected holes intersecting >3g/t gold properties east of Hemloi Projected holes intersecting <3g/t gold Mine shafts Golden David Multi-gram gold anomalies d
Slide 20: LATAM portfolio a work in progress
LATAM portfolio…a work in progress Dominican Republic structural ,model New predictive Drilling validates target Pueblo Viejo Broadening growth mandate to Guiana Shield greater region Negotiations to Guiana Shield consolidate properties Veladero Strategy Northern Peru Exploring the Jurassic High gra
Slide 21: Dominican Republic prospective belts
Dominican Republic…prospective belts Revised structural model enabling prediction of controls and offsets to mineralisation. 4 new satellite targets identified Barrick JV with Precipitate Drilled Mejita NE target with a 4-hole initial campaign Pueblo Viejo obtaining gold mineralisation over an area
Slide 22: Chile – El Indio Camp
Chile – El Indio Camp... Pueblo Viejo LATAM World class gold endowment El Indio is one of three large alteration centres in the Lagunas Norte Pascua Zaldivar Lama Veladero belt Pascua Norte Abierto Lama Veladero Veladero and Del Carmen/Alturas districts contain large El Indio Belt disseminated high
Slide 23: Bambadji new mineralised corridor
Bambadji…extensive new mineralised corridor and new host rocks unlock new district potential Gara 250m Loulo 3 KBWRC018i 60m brecciated and altered Yalea breccias with sulphides Volcanic KBWDH005i Rocks Sedimentary 46m altered and strongly Rocks sulphidized breccias KBWRC019i LATIFAi 44m altered and
Slide 24: Loulo District Senegal-Mali
Loulo District…Senegal-Mali Baboto N Loulo Permit Gara Loulo 3 Yalea Yalea Transfer Zone confirmed down plunge extensions Loulo Permit Framework drilling underway at Yalea Shear South to guide Latifa Gounkoto aggressive step-out program in 2021 Kabewest Permit Dakota Initial Yalea Ridge scout
Slide 25: Yalea Structural Corridor
Yalea Structural Corridor... 12.5km strike length of exploration upside Yalea South Yalea System Loulo 4 Loulo 3 Loulo 2/3 Loulo 2 Loulo 1 Kossanto Dike 100m VD ? ? ? ? L3L2DH005i 3.10m at 27.39g/t ? L3DH265i 25.15m at 3.12g/t 6.85m at 5.81g/t Yalea Shear Yalea Structure 4.45m at 3.40g/t YDH298W1i 4
Slide 26: Yalea high-grade extensions continue
Yalea high-grade extensions continue… Scout drilling extends shoot trend 480m south of 2019 Block Model Thicker and higher-grade zones appearing down plunge of the Panel Zone Next Steps: 180m step-out hole underway down plunge of YDH298W2 and 660m south of 2019 Block Model Test Panel Zone up
Slide 27: KZ Structure resource replacement pipeline
KZ Structure…resource replacement pipeline DRC Kalimva-Ikamva Ikamva Kalimva Oere Mengu HiIl Pamao Mofu Kibali on track to grow mineral Pakaka reserves, net of 2020 depletion Pakaka Kombokolo Agbarabo Robust mineral resource growth Kanga Sud Gorumbwa KCD pipeline and mineral reserve KCD Gorumbwa con
Slide 28: Central and East Africa
Central and East Africa… Congo – Tanzania Craton Central African Republic South Sudan Full re-log and remodeling of North Mara deposits identifies multiple open target areas Kibali with the potential to grow resources Uganda N Ngayu Belt Bulyanhulu high grades validated down plunge Kenya Robust mine
Slide 29: Appendix A – Fourmile Significant Intercept Table
Appendix A – Fourmile Significant Intercept Tablei Drill Results Returned Q3 2020 i. All intercepts calculated using a 5 g/t Au cutoff and are uncapped; minimum intercept width is 0.8m; internal dilution is less than 20% Core Drill Holeii Azimuth Dip Interval (m) Width (m)iii Au (g/t) total width ii
Slide 30: Appendix A – Fourmile Significant Intercept Table
Appendix A – Fourmile Significant Intercept Tablei Previously Reported Drill Results Presented Q3 2020 i. All intercepts calculated using a 5 g/t Au cutoff and are Core Drill Holeii Azimuth Dip Interval (m) Width (m)iii Au (g/t) uncapped; minimum intercept width is 0.8m; internal dilution is less th
Slide 31: Appendix B – Carlin Trend Significant Intercept Table
Appendix B – Carlin Trend Significant Intercept Tablei,ii Drill Results Presented Q3 2020 i. All intercepts calculated using a 5 g/t Au cutoff and are Width uncapped; minimum intercept width is 0.8m; internal dilution Core Drill Holeiii Azimuth Dip Interval (m) Au (g/t) is less than 20% total width
Slide 32: Appendix C – Leeville (Carlin) Significant Intercept Table
Appendix C – Leeville (Carlin) Significant Intercept Tablei Drill Results from Q3 2020 i. All intercepts calculated using a 3.4 g/t Au cutoff and are uncapped; minimum intercept width is 3.0m; internal dilution is less than 20% total width Core Drill Holeii Azimuth Dip Interval (m) Width (m)iii Au (
Slide 33: Appendix D – Pueblo Viejo Significant Intercept Table
Appendix D – Pueblo Viejo Significant Intercept Tablei Drill Results from Q3 2020 i. All intercepts calculated using a 0.5 g/t Au cutoff and are uncapped; a minimum intercept length of 10m is reported, with internal dilution of Core Drill Holeii Azimuth Dip Interval (m) Width (m)iii Au (g/t) no more
Slide 34: Appendix E – Bambadji Significant Intercept Table
Appendix E – Bambadji Significant Intercept Tablei Drill Results from Q3 2020 Including i. All intercepts calculated using a 0.5 g/t Au cutoff and are uncapped; minimum intercept width is 2m; internal dilution is equal to or less Lode Drill Holeii Azimuth Dip Interval (m) Width Au (g/t) Interval (m)
Slide 35: Appendix E – Bambadji Significant Intercept Table
Appendix E – Bambadji Significant Intercept Tablei Drill Results from Q3 2020 Including i. All intercepts calculated using a 0.5 g/t Au cutoff and are uncapped; minimum intercept width is 2m; internal dilution is equal to or less Lode Drill Holeii Azimuth Dip Interval (m) Width Au (g/t) Interval (m)
Slide 36: Appendix F – Loulo-Gounkoto
Appendix F – Loulo-Gounkoto Significant Intercept Tablei Drill Results from Q3 2020 Lode Drill Holeii Azimuth Dip Interval (m) Width (m)iii Au (g/t) Transfer Zone YADH147 68.98 -61.78 902.6-907.3 4.70 1.98 i. All intercepts calculated using a 0.5 g/t Au cutoff and are uncapped; minimum intercept wid
Slide 37: Appendix F – Loulo-Gounkoto Significant Intercept Table
Appendix F – Loulo-Gounkoto Significant Intercept Tablei Drill Results from Q3 2020 Lode Drill Holeii Azimuth Dip Interval (m) Width (m)iii Au (g/t) i. All intercepts calculated using a 0.5 g/t Au cutoff and are uncapped; minimum Transfer Zone YADH170 67.00 -63.00 1168.9-1171 2.10 1.16 intercept wid
Slide 38: Appendix F – Loulo-Gounkoto Significant Intercept Table
Appendix F – Loulo-Gounkoto Significant Intercept Tablei i. All intercepts calculated using a 0.5 g/t Au cutoff and are uncapped; minimum intercept width is 2m; internal dilution is equal to or less than 2m Drill Results from Q1 to Q3 2020 total width. ii Lode Drill Hole Azimuth Dip Interval (m) Wid
Slide 39: Endnotes
Endnotes 1. A Tier One Gold Asset is a mine with a stated life in excess of 10 years, annual production of at least 500,000 ounces of gold and total cash costs per ounce over the mine life that are in the lower half of the industry cost curve. 2. Nevada Gold Mines Resources (inclusive of Reserves) a
Slide 40: Mineral Resource Management
Mineral Resource Management Investor Day November 2020, Rod Quick Mineral Resource Management & Evaluation Executive
Slide 41: Mineral Resource Management (MRM) at Barrick
Mineral Resource Management (MRM) at Barrick… Manage the orebody from gold in the ground into value for all stakeholders – only possible through ownership of the orebody Responsibility of managing the orebodies and owning the plans is with the operations MRM personnel are empowered at the mines to o
Slide 42: Resource triangle
Resource triangle… Mines Feasibility projects Reserve definition Feasibility projects and Measured & indicated reserve and resource resources definition Inferred resources Advanced targets Exploration Follow up targets targets Identified Identified targets geological Total anomalies A B C D
Slide 43: Mining is about geology and orebodies
Mining is about geology and orebodies… Quality of reserves = value It's about what we can add to reserves Value production Discovery and development build real value development exploration discovery Time
Slide 44: MRM and Exploration Upside
MRM and Exploration Upside… 11–20 years Sustainable Delivery 6–10 years Exploration 0–5 years Mineral Resource Management Life of Mine Plans
Slide 45: Strategic filters for investment
Strategic filters for investment… Striving to be the world’s most valued gold mining business by finding, developing and owning the best assets, with the best people, to deliver sustainable returns for our owners and partners It applies principally to gold (and copper) It is located in a world class
Slide 46: North Mara starts with the geology
North Mara…starts with the geology S N VPH 400vmi VAN MSC B1 MSC B2 Fault 1000mRL Vtf Fault Vtf Fault SED CAP Gokona Search Vtf Fault Direction Vtf Block Model 2019 Acacia Model: 2020 Barrick Integrated Geological Model & Estimate: Interpreted flat faults are actually joints 3D geological model expl
Slide 47: Bulyanhulu orebody bank the orebody first
Bulyanhulu orebody…bank the orebody first Surface Portal and Shaft West East Haulage Level 2000 m 2020 Mining Area Gold grade (g/t) Deep West BGMDDD0070i: 4.7m TW at 382 g/t BGMDDD0069i: 2.77m TW at 33.0g/t BGMDDD0072i: BGMDDD0071i: 4.5m TW at 11.3g/t BGMDDD0069Bi: 7.9m TW at 10.3g/t 1.90m TW at 110
Slide 48: Loulo-Gounkoto Total Project Mineral Reserve Replacement
Loulo-Gounkoto Total Project Mineral Reserve Replacement… Moz 10 9 8 7 6 5 9.3 9.2 9.1 8.7 8.4 4 8.1 8.1 8.0 7.6 7.8 7.8 7.4 7.2 6.8 3 5.6 2 1 1.9 1.4 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Annual Total Project P&P Mineral Change in P&P Mineral Reserve
Slide 49: Kibali Total Project Mineral Reserve Replacement
Kibali Total Project Mineral Reserve Moz Replacement… 12 11 10 9 8 7 6 11.6 10.9 11.0 10.6 5 10.1 10.2 9.2 9.2 8.7 4 8.3 3 5.5 2 1 0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Change in P&P Mineral Reserves Annual Total Project P&P Mineral Reserves Moz Cumulative Moz Produced LOM Recover
Slide 50: Pueblo Viejo Plant and Tailings Expansion
Pueblo Viejo Plant and Tailings Expansion Expansion Study Feasibility study completed for the plant expansion, which The proposal for the process plant and tailings expansion of the will significantly increase throughput to 14Mtpai. This will Pueblo Viejo mine has an estimated initial investment of
Slide 51: Goldrush/Fourmile
Goldrush/Fourmile… Significant Reserve and Resource growth potential N Anna Fault Goldrush1 P&P: 2.0Moz at 9.68g/t Blasdel Thrust Fault M&I: 10.7Moz at 7.80g/t Inferred 1.9Moz at 7.60g/t Large resource base A Exploration Upsidei: 4 to 8 Mtonnes at 4.0 to 9.5g/t Geology focused review of R&R modellin
Slide 52: Turquoise Ridge Complex
Turquoise Ridge Complex… Improved geological model leads to better reconciliation Turquoise Ridge1 A B P&P: 9.8Moz at 11.01g/t M&I: 11.9Moz at 9.68g/t Inferred: 0.8Moz at 9.25g/t From limited geology and no ore controls… Twin Creeks1 P&P: 3.6Moz at 2.01 g/t M&I: 6.0Moz at 2.04 g/t Inferred: 1.0Moz a
Slide 53: Group Gold Production 10 Year Outlook
Group Gold Production…10 Year Outlook Porgera LATAM and AP Africa and Middle East North America Gold Production (Attributable), Koz 5,500 5,500 5,000 5,000 4,500 4,500 4,000 4,000 3,500 3,500 3,000 3,000 2,500 2,500 2,000 2,000 1,500 1,500 1,000 1,000 500 500 0 0 2020 2021 2022 2023 2024 2025 2026 2
Slide 54: Endnotes
Endnotes 1. Nevada Gold Mines Resources (inclusive of Reserves) and Reserves are summarized below, including Nevada Gold Mines’ 60% interest in South Arturo and Barrick’s 100%-owned Fourmile project. Complete Mineral Reserve and Resource data, including tonnes, grades, and ounces, as well as the ass
Slide 55: Appendix A – Bulyanhulu Deep West Significant Intercept Table
Appendix A – Bulyanhulu Deep West Significant Intercept Tablei i. Capping at 300 g/t Au on the raw data, with minimum of 1m Bulyanhulu Deep West Drilling – Q3 2020 intercept, with at least 60% of the resulting intercepts above 2 g/t Au cut-off. Azimuth Width True Width Location Type Drill Holeii Dip
Slide 56: Appendix B – Loulo-Gounkoto Historical Total Mineral Reserves
Appendix B – Loulo-Gounkoto Historical Total Mineral Reservesi,ii Proven Probable Total Based on a 100% Basis Tonnes Grade Contained ozs Tonnes Grade Contained ozs Tonnes Grade Contained ozs Year Gold Price Assumption Project (Mt) (gm/t) (Moz) (Mt) (gm/t) (Moz) (Mt) (gm/t) (Moz) 2003 $350/oz Loulo 1
Slide 57: Appendix C – Loulo-Gounkoto Historical Production
Appendix C – Loulo-Gounkoto Historical Productioni Based on a 100% Basis Tonnes Milled Head Grade Gold Produced Recovery Year (kt) (g/t) (oz) (%) 2005 551 4.1 67,984 94.3 2006 2,600 3.2 241,575 93.9 2007 2,700 3.3 264,647 93.2 2008 2,720 3.2 258,095 91.2 2009 2,947 4.2 351,591 87.7 2010 3,158 3.4 31
Slide 58: Appendix D – Kibali Historical Total Mineral Reserves
Appendix D – Kibali Historical Total Mineral Reservesi,ii Proven Probable Total Based on 100% Basis Tonnes Grade Contained ozs Tonnes Grade Contained ozs Tonnes Grade Contained ozs Year Gold Price Assumption Project (Mt) (gm/t) (Moz) (Mt) (gm/t) (Moz) (Mt) (gm/t) (Moz) 2009 $700/oz Kibali - - - 42 4
Slide 59: Appendix E – Kibali Historical Production
Appendix E – Kibali Historical Productioni Based on a 100% Basis Tonnes Milled Head Grade Gold Produced Recovery Year (kt) (g/t) (oz) (%) 2013 808 3.7 88,200 91.3 2014 5,568 3.7 526,627 79.3 2015 6,833 3.5 642,720 83.8 2016 7,296 3.1 585,946 80 2017 7,619 2.9 596,225 83.4 2018 8,217 3.6 807,251 88.7
Slide 60: Appendix F – Outlook
Appendix F – Outlook Key assumptions 2021 2022 2023 2024+ Gold Price ($/oz) 1,200 1,200 1,200 1,200 Copper Price ($/lb) 2.75 2.75 2.75 2.75 Oil Price (WTI) ($/barrel) 60 60 60 60 AUD Exchange Rate (AUD:USD) 0.75 0.75 0.75 0.75 ARS Exchange Rate (USD:ARS) 100.00 100.00 100.00 100.00 CAD Exchange Rate
Slide 61: North America Operations
North America Operations Investor Day 2020, Catherine Raw Chief Operating Officer, North America
Slide 62: What We Said vs. What We Did
What We Said vs. What We Did… Investor Day 2018 Strategic Priorities What we have achieved to date Nevada Gold Mines (“NGM”) JV with Newmont creating world’s largest single gold mining complex Nevada Consolidation Barrick majority shareholder and operator Established Mineral Resource Managemen
Slide 63: 5-Year Outlook North America
5-Year Outlook NORTH AMERICA Gold Production (Attributable), Koz Cost of Sales(4), Total Cash Costs(5) and Gold Capital Expenditures (Attributable), $mln AISC(5), $/oz Hemlo Goldrush Other NGM Turquoise Ridge Cortez Carlin Cost of Sales AISC Total Cash Costs Total Capital 3,000 1,250 1,200 2,500 1,1
Slide 64: Nevada Gold Mines
Nevada Gold Mines… (Equity Ownership 61.5%) Flat management structure with new leadership teams across all operations 10 Underground Mines TURQUOISE RIDGE N COMPLEX Twin Creeks 12 Open Pit Mines Wells Turquoise Ridge South Arturo CARLIN Winnemucca COMPLEX 2 Roaster Facilities Goldstrike Leeville Elk
Slide 65: World Class Reserve & Resource Base
World Class Reserve & Resource Base… Presented on a 100% basis 2019 Reserve and Resource Base1: Proven & Probable reserve 48.3Moz at 2.64g/t Measured & Indicated resource 76.9Moz at 2.38g/t Turquoise Ridge Complex Inferred resources 9.8Moz at 1.99g/t Carlin Complex P&P: 13.4Moz at 5.02g/t P&P: 21.1M
Slide 66: Nevada Gold Mines Production
Nevada Gold Mines (Equity Ownership 61.5%) Nevada Gold Mines (100%)ii YTD Q3 2020 2020 Guidance Nevada Gold Mines is well positioned to deliver on 2020 Gold produced (koz) 2,578 3,400 - 3,650 production guidance with slightly higher costs driven by higher Cost of sales ($/oz)4 1,039 970 - 1,020 roya
Slide 67: Carlin
Carlin (Equity Ownership 61.5%7) Carlin on track to deliver on 2020 guidance Carlin (100%)ii YTD Q3 2020 2020 Guidance Production in 2021 and 2022 impacted by: Gold produced (koz) 1,242 1,625 - 1,700 Decrease in autoclave ounces as a result of lower tonnes processed with Cost of sales ($/oz)4 996 92
Slide 68: Cortez
Cortez (Equity Ownership 61.5%8) Cortez on track to exceed 2020 production guidance with costs Cortez (100%) YTD Q3 2020 2020 Guidance at lower end of guidance 607 730 - 750 Gold produced (koz) Five-year production profile impacted by sequencing of open pits Cost of sales ($/oz)4 931 980 - 1,030 aff
Slide 69: Goldrush
Goldrush (Equity Ownership 61.5%) Twin exploration declines: 400 Goldrush Twin Declines Contractor development completed Successful transition to Cortez operational management in 100% Gold Production (koz) November 300 First ore exposed in H1 2021 as part of ongoing exploration and development activ
Slide 70: Turquoise Ridge
Turquoise Ridge (Equity Ownership 61.5%9) Turquoise Ridge (100%) YTD Q3 2020 2020 Guidance Turquoise Ridge Complex tracking below 2020 production Gold produced (koz) 389 700 - 750 guidance Cost of sales ($/oz)4 1,066 900 - 950 YTD Turquoise Ridge Underground (“TRUG”) ramp-up behind Total cash costs
Slide 71: Phoenix
Phoenix (Equity Ownership 61.5%) Phoenix (100%) YTD Q3 2020 2020 Guidance Phoenix on track to meet or exceed 2020 production guidance with lower costs aided by higher by-product credits Gold produced (koz) 162 165 - 195 At Lone Tree, the additional deposits of Brooks and Buffalo Cost of sales ($/oz)
Slide 72: Long Canyon
Long Canyon (Equity Ownership 61.5%) Delivering exceptional margins in 2020, Long Canyon expected Long Canyon (100%) YTD Q3 2020 2020 Guidance to exceed production guidance at lower end of cost range Gold produced (koz) 178 210 - 245 2021 production slightly above 2020 and poised to deliver Cost of
Slide 73: NGM's contribution to Nevada
NGM’s contribution to Nevada… NGM’s first 12 months of operation: July 1, 2019 to June 30, 2020 2020 Activities Covid-19 Community Response YTD: ~$12m Includes launch of I-80 Fund in July 2020 Other with $5m NGM Investment 24% Member of State Covid-19 Task Force and $5.2M COMMUNITY largest single do
Slide 74: Hemlo
Hemlo… Expanding Resource While Increasing Grade Ongoing near surface program intersected high-grade plunge extending orebody Initial drill program following up on Black Fly C-Zone B-Zone Maximizing the whole encouraging ore body by surface trench identifying remnant program results mining opportuni
Slide 75: Hemlo Gold Production
Hemlo Hemlo expected to deliver at upper end of production guidance for 2020; higher Hemlo10 YTD Q3 2020 2020 Guidance royalties from current gold prices have placed upward pressure on costs New underground contractor now fully mobilized and the UG ramp-up is Gold produced (koz) 166 200 - 220 progre
Slide 76: Donlin Gold JV
Donlin Gold JV… Progressing Up The Value Chain (Equity Ownership 50%) To bring a project of Donlin’s scale up the value chain, A A A’ A A’ B three strategic risks to be addressed: Geology Execution Funding First priority: to close identified gaps in the previous geological model 85 drillhole program
Slide 77: Closure Portfolio
Closure Portfolio… Unlocking opportunities Focused strategy to unlock value, Cullaton Lake mitigate risk and reduce liability Divestments in 2020: Eskay Creek Eskay Creek: $55m in shares plus warrants and 1% NSR Bullfrog: $13m in shares plus Giant Nickel warrants and 2% NSR Nickel Plate Golden Patri
Slide 78: Endnotes
Endnotes 1. Nevada Gold Mines Resources (inclusive of Reserves) and Reserves are summarized below, including Nevada Gold Mines’ 60% interest in South Arturo and Barrick’s 100%-owned Fourmile project. Complete Mineral Reserve and Resource data, including tonnes, grades, and ounces, as well as the ass
Slide 79: Endnotes
Endnotes 2. Hemlo: Proven 0.9Mt at 4.94g/t for 0.1Moz, Probable 9.7Mt at 3.81g/t for 1.2Moz (Proven and Probable 10.6Mt at 3.9g/t for 1.3Moz), Measured 1.8Mt at 4.25g/t for 0.3Moz, Indicated 40.8Mt t 2.18g/t for 2.9Moz (Measured and Indicated 42.6Mt at 2.27g/t for 3.1Moz), Inferred 9.1Mt at 3.45g/t
Slide 80: Endnotes
Endnotes 8. Refer to the Technical Report on the Cortez Joint Venture Operations, dated March 22, 2019, and filed on SEDAR at www.sedar.com and EDGAR at www.sec.gov on March 22, 2019 9. Refer to the Technical Report on the Turquoise Ridge mine, dated March 25, 2020, and filed on SEDAR at www.sedar.c
Slide 81: Appendix A – Outlook
Appendix A – Outlook Key assumptions 2021 2022 2023 2024+ Gold Price ($/oz) 1,200 1,200 1,200 1,200 Copper Price ($/lb) 2.75 2.75 2.75 2.75 Oil Price (WTI) ($/barrel) 60 60 60 60 AUD Exchange Rate (AUD:USD) 0.75 0.75 0.75 0.75 ARS Exchange Rate (USD:ARS) 100.00 100.00 100.00 100.00 CAD Exchange Rate
Slide 82: Latam & Asia Pacific Operations
Latam & Asia Pacific Operations Investor Day 2020, Mark Hill Chief Operating Officer, LatAm & Asia Pacific
Slide 83: Strategic Goal Delivery
Strategic Goal Delivery Sustainability 58% reduction in total reportable incidents1 and no Class 1 environmental incidents2 Achieved greenhouse gas (“GHG”) emission reductions Deepened our constructive relationships with all host governments and communities MRM, Exploration & Operational Excel
Slide 84: Strategic Goal Delivery
Strategic Goal Delivery Region Optimization Sale of KCGM Lagunas Norte transitioned to care and maintenance, while drilling for oxide and sulphide potential is underway to identify a plan that meets investment hurdles Pierina transitioned to closure Right-sizing of all country offices Liabil
Slide 85: Future Strategic Objectives
Future Strategic Objectives Sustainability Continue to maintain and improve social license Continue to improve safety, GHG and environmental performance MRM, Exploration & Operational Excellence Deliver Veladero projects and advance asset to Tier One status3 Porgera restart and advance asset
Slide 86: 5-Year Outlook Latin America and Asia Pacific
5-Year Outlook… Latin America and Asia Pacific Porgera Veladero Pueblo Viejo Cost of Sales AISC Total Cash Costs Total Capital Gold Production (Attributable), Koz Cost of Sales(4), Total Cash Cost(5) and Gold Capital Expenditures (Attributable), $mln AISC(5), $/oz 1,300 1,250 1,200 1,200 1,100 1,150
Slide 87: Pueblo Viejo, Dominican Republic
Pueblo Viejo, Dominican Republic (Equity Ownership 60%6) 1,200 1,000 Production (koz) 800 100% Gold 600 400 200 0 2020i 2021 2022 2023 2024 2025 Pueblo Viejo Processing Facilities Key Highlights Potential extension of the mine life to the 2040s Process Plant Expansion to 14Mtpa Flotation & Autoc
Slide 88: Pueblo Viejo Expansion Flowsheet
Pueblo Viejo Expansion Flowsheet (Equity Ownership 60%6)
Slide 89: Veladero, Argentina
Veladero, Argentina (Equity Ownership 50%7) 700 600 Production (koz) 500 100% Gold 400 300 200 100 0 2020i 2021 2022 2023 2024 2025 Veladero Processing Facilities Key Highlights Completion of the Phase 6 Leach Pad expansion on-track for mid-2021 following delays due to Covid-19. Phase 6 will provi
Slide 90: Veladero – Pathway to a Tier One Asset
Veladero – Pathway to a Tier One Asset 2020 Significant Drill Resultsi Thickness Au Depth Hole Hole ID (True) (g/t) (From) Objective DDH-958c 87 m 4.08 g/t 353 m Expand to the East DDH-960 18 m 0.98 g/t 189 m Convert Inferred DDH-962c 189 m 0.49 g/t 203 m Including 24 m 0.52 g/t 203 m Expand to the
Slide 91: Porgera, Papua New Guinea
Porgera, Papua New Guinea (Equity Ownership 47.5%)ii 700 600 Production (koz) 500 100% Gold 400 300 200 100 0 2020i 2021 2022 2023 2024 2025 Porgera Processing Facilities Key Highlights Operation currently on care and maintenance since April 25, 2020 after the Special Mining Lease (“SML”) was not
Slide 92: Zaldívar, Chile
Zaldívar, Chile (Equity Ownership 50%) 300 250 Production (mlbs) 100% Copper 200 150 100 50 0 2020i 2021 2022 2023 2024 2025 Zaldivar open pit and CuproChlor® construction progress Key Highlights Zaldívar is operated by Antofagasta with a Barrick project manager embedded at site Following comple
Slide 93: Peru
Peru Closure Liability Key Highlights Lagunas Norte Closure Liability Reduction ($ million) Focus on optimization of closure plans to deliver long -20% term sustainable mine closures 257 43 206 Updated closure plans approved by Peruvian 5 2 regulatory authorities in 2020 Q4 2018 Water Treatmen
Slide 94: Capital Projects
Capital Projects Pascua-Lama Del Carmen/Alturas Holding costs reduced by 24% YoY Reviewing options for a Del Carmen (Argentina) With completion of the long running sanctions and appeals starter pit process, moving forward with the closure of Pascua Advancing to a Preliminary Economic Assessm
Slide 95: Endnotes
Endnotes 1. Total reportable incident frequency rate (TRIFR) is a ratio calculated as follows: number of reportable injuries x 1,000,000 hours divided by the total number of hours worked. Reportable injuries include fatalities, lost time injuries, restricted duty injuries, and medically treated inju
Slide 96: Appendix A - Outlook
Appendix A - Outlook Key assumptions 2021 2022 2023 2024+ Gold Price ($/oz) 1,200 1,200 1,200 1,200 Copper Price ($/lb) 2.75 2.75 2.75 2.75 Oil Price (WTI) ($/barrel) 60 60 60 60 AUD Exchange Rate (AUD:USD) 0.75 0.75 0.75 0.75 ARS Exchange Rate (USD:ARS) 100.00 100.00 100.00 100.00 CAD Exchange Rate
Slide 97: Appendix B - Veladero Significant Intercept Table
Appendix B - Veladero Significant Intercept Tablei Drill Results from 2020 i. Significant intervals reported with intervals ≥ 15 m and cutoff ≥ 0.3 ppm Au Includingii ii. Significant intervals reported with intervals ≥ 15 m and cutoff ≥ 0.5 ppm Core Drill Interval Interval Au Azimuth Dip Width (m)iv
Slide 98: Africa & Middle East Operations
Africa & Middle East Operations… Investor Day 2020, Willem Jacobs Chief Operating Officer, Africa & Middle East
Slide 99: Regional Strategy - Scorecard
Regional Strategy - Scorecard Negotiated and implemented FWAi Loulo Mining Successfully extended SOMILO Tanzania Assets with GoT and took Acacia private. mining convention, with Loulo Maiden dividend declared in Q4/20 Convention paying first dividend Settled long-running tax dispute Solid 10
Slide 100: Regional Strategy - Scorecard
Regional Strategy - Scorecard Operational Delivered in-line with guidance on production, costs and resource Excellence conversion Operating teams successfully Team Integration integrated into Barrick First phase of North Mara land Tanzania Land issues resolved. Solid progress made at Gena and
Slide 101: Regional Strategy - Refocused
Regional Strategy - Refocused Tanzania Tier One1 Regional Copper KSAi Opportunities Gold Resource Operational Complex Growth Expansion Excellence North Mara and Bulyanhulu Targeting increased Exploration cooperation Solidifying 10-12 Year Delivering improved cost have potential to become a Tier Rese
Slide 102: 5-Year Outlook Gold Africa and Middle East
5-Year Outlook…Gold Africa and Middle East Tongon Buzwagi Bulyanhulu North Mara Kibali Loulo-Gounkoto Cost of Sales AISC Total Cash Costs Total Capital Gold Production (Attributable), Koz Cost of Sales(2), Total Cash Cost(3) and Gold Capital Expenditures (Attributable), $mln AISC(3), $/oz 1,800 1,25
Slide 103: 5-Year Outlook Group Copper
5-Year Outlook…Group Copper Jabal Sayid Zaldivar Lumwana Cost of Sales AISC C1 Cash Costs Total Capital Copper Production (Attributable), Mlbs Cost of Sales(2), C1 Cash Costs(4) and Copper Capital Expenditures (Attributable), $mln AISC(4), $/lb 600 3.0 550 500 450 2.5 400 350 300 2.0 250 200 1.5 150
Slide 104: Kibali, DRC
Kibali, DRC (Equity Ownership 45%) Key Highlights Kibali (100%) YTD Q3 2020 2020 Guidance Record production of 813koz (100%) achieved in 2019 Gold produced (koz) 605 760 - 820 World-class underground mine continues to raise the benchmark on Cost of sales ($/oz)2 1,067 1,030 - 1,080 productivity, eff
Slide 105: Loulo-Gounkoto, Mali
Loulo-Gounkoto, Mali (Equity Ownership 80%) Key Highlights Loulo-Gounkoto (100%) YTD Q3 2020 2020 Guidance Gold produced (koz) 526 620 - 680 Solid year-to-date production trending towards higher-end of guidance, despite the host country political situation; underpins Cost of sales ($/oz)2 1,034 1,05
Slide 106: Tanzania
Tanzania (Equity Ownership 84%) Key Highlights Tanzania (100%) YTD Q3 2020 2020 Guidance Significantly improved confidence in mine plans and resources, Gold produced (koz) 338 430 - 500 driving further LOM extensions in line with commitment to Cost of sales ($/oz)2 1,086 820 - 880 expanding footprin
Slide 107: Tanzania
Tanzania (Equity Ownership 84%) Evolution of North Mara TSF Key Highlights (continued) September 2019 Maiden and interim dividend of $250 millioni paid through Twiga partnership In line with our commitment to generate value for all stakeholders in our 50/50 partnership, the GoT has received in exces
Slide 108: Tongon, Côte d'Ivoire
Tongon, Côte d’Ivoire (Equity Ownership 89.7%) Key Highlights Tongon (100%) YTD Q3 2020 2020 Guidance Consistent throughput achieved at process plant through Gold produced (koz) 211 270 - 290 improvement initiatives, with record plant runtime of 95.2% Cost of sales ($/oz)2 1,322 1,390 - 1,440 achiev
Slide 109: Lumwana, Zambia
Lumwana, Zambia (Equity Ownership 100%) Key Highlights Successful turnaround through extensive cost rationalisation Lumwana (100%) YTD Q3 2020 2020 Guidance together with operational efficiency and availability Copper produced (mlbs) 198 250 - 280 improvements at the plant, resulting in a return to
Slide 110: Jabal Sayid, Saudi Arabia
Jabal Sayid, Saudi Arabia (Equity Ownership 50%) Key Highlights Step-change in mining and plant performance continues to yield an improving production profile Jabal Sayid (100%) YTD Q3 2020 2020 Guidance On a 100% basis, 2018 production was 110 mlbs, increasing to Copper produced (mlbs) 114 120 - 14
Slide 111: Endnotes
Endnotes 1. A Tier One Gold Asset is a mine with a stated life in excess of 10 years, annual production of at least 500,000 ounces of gold and total cash costs per ounce over the mine life that are in the lower half of the industry cost curve. 2. Cost of sales applicable to gold per ounce is calcula
Slide 112: Appendix A – Outlook
Appendix A – Outlook Key assumptions 2021 2022 2023 2024+ Gold Price ($/oz) 1,200 1,200 1,200 1,200 Copper Price ($/lb) 2.75 2.75 2.75 2.75 Oil Price (WTI) ($/barrel) 60 60 60 60 AUD Exchange Rate (AUD:USD) 0.75 0.75 0.75 0.75 ARS Exchange Rate (USD:ARS) 100.00 100.00 100.00 100.00 CAD Exchange Rate
Slide 113: Finance, Supply Chain, IT and Systems
Finance, Supply Chain, IT and Systems… Investor Day 2020, Graham Shuttleworth SEVP, Chief Financial Officer
Slide 114: Asset quality and cost discipline delivers gold price upside
Asset quality and cost discipline delivers gold price upside Total Cash Costs1 within a 2% range of $700/oz over the last 5 quarters Gold price increase has therefore delivered higher margins and higher free cash flow2 What differentiates Barrick is the quality of our assets which maximises this gol
Slide 115: Cumulative Free Cash Flow of Operating Mines (2021-2025)
Cumulative Free Cash Flow2 of Operating Mines (2021-2025) Tier One Gold Assets Tier One assets4 maximise leverage to gold price upside Other Gold Assets Copper Assets Barrick has six Tier One mines – unparalleled in the industry $20B Key driver behind record free cash flow2 reported in Q3 2020 $15B
Slide 116: Cost drivers of the business
Cost drivers of the business Labour costs are the largest part of our cost base (employees and contractors), but technological improvements present an opportunity to drive efficiencies Energy and fuel costs are decreasing with further potential reductions from clean energy and efficiency projects Ro
Slide 117: 50% reduction in G&A
50% reduction in G&A Our corporate function is now focused on areas such as strategic matters, financial reporting, legal, treasury, information technology and human resources From pre-merger expectations to our 2020 guidance, corporate admin costs have decreased by more than 50% Achieved through de
Slide 118: Simplifying the business
Simplifying the business STREAMLINING A COMPLEX LEGACY STRUCTURE Since the Barrick-Randgold merger, we have eliminated 28 subsidiaries from the Group SUBSIDIARY MANAGEMENT During 2020, we have redomiciled 23 subsidiaries to our regional hub for annual savings of $3m LOAN RESTRUCTURING Inefficient in
Slide 119: Enabling simplification through unification of business systems
Enabling simplification through unification of business systems Complex legacy structure Benefits of unification Our business-led approach Inherited more than 20 global Single source of truth for insight Business functions own the systems, and ways of working and fast decision-making systems
Slide 120: Integrating and unifying our business systems
Integrating and unifying our business systems Financial Reporting Planning ERPi EH&Sii HR Payroll 3 regional 8 applications 7 local systems 3 regional 4 regional Simplify and systems single and instances single global systems single systems single adopt regional global system single applic
Slide 121: SAP Global Deployment Timeline
SAP Global Deployment Timeline Delivering value incrementally with each go-live 2019 Q3 2019 Q4 2020 Q1 2020 Q2 2020 Q3 2020 Q4 2021 Q1 2021 Q2 2021 Q3 2021 Q4 RFI/RFP Localise & roll out across North America Go-live Target NGM (legacy Build core model Aug Global operating Core design for NGM Newmon
Slide 122: Centralised Information Technology
Centralised Information Technology BARRICK IT CAPABILITIES MANAGED CENTRALISED IT KEEPS CENTRALLY BARRICK CONNECTED AND SECURE 17,000+ users using 50,000+ user devices CYBER SECURITY 500+ mining applications ERP SYSTEMS & IDENTITY & ACCESS MANAGEMENT Supporting 50+ critical business projects such as
Slide 123: Building Blocks of Digital at Barrick
Building Blocks of Digital at Barrick Digital is enabled by a systems & data core which Barrick is working to modernise Digital is also enabled by company culture, skills and processes Core business applications owned by business functions Core Business aligned to a global target operating model tha
Slide 124: The global data platform is a critical initiative
The global data platform is a critical initiative Business Global Data (Functions and Programme Regions) ALIGNMENT TO BUSINESS PRIORITIES RELIABLE DATA EFFICIENT SYSTEMS
Slide 125: Supply Chain Philosophy
Supply Chain Philosophy Working with supply partners/suppliers to reduce overall cost Focus on collaborative Empower people with supply demand planning to optimize chain knowledge to ensure inventory levels an integrated supply chain Decentralised supply chain operation with centralised strategic Dr
Slide 126: Inventory Management
Inventory Management Working Capital Management a KPI of Our Business Evolution of Inventory ($ millions) Main Drivers Contributing to a Lower Inventory Base 900 853 Empowered our people to take full responsibility and 800 accountability of inventory. This is not only a supply chain responsibility 7
Slide 127: Restructuring Our Cost Base in the Americas
Restructuring Our Cost Base in the Americas Leveraging our supply base and establishing real long-term partnerships Renegotiated approximately Contracted Cost Reductions ($ millions) $1.5b worth of contracts and supply agreements over the past two years in NA and LATAM & AP 220 Main categories of ex
Slide 128: Expanding Our In-Country Footprint and Earning Social License
Expanding Our In-Country Footprint and Earning Social License AME Local Expenditure 80% 75% 68% 70% 70% 60% 55% 50% 43% Proven Track Record of Developing In- 40% 30% Country Local Partnerships 20% 10% 0% 2016 2017 2018 2019 2020 (Forecast) LATAM & AP Local Expenditure Key Initiatives 2019/2020 80% 7
Slide 129: Integrated Risk Management
Integrated Risk Management Global strategy, framework, standards and reporting Minimize Monitor Control Culture Identification of risks and opportunities Operational Ownership of Risk Assessment of risks and opportunities Training Consolidation Risk and Audit and Transfer Evaluation (inc. technical)
Slide 130: Liability Management
Liability Management No material maturities until 2033 During 2020, Moody's has upgraded Barrick to Baa1 from Baa2 and S&P has revised its outlook on Barrick credit to Positive from Stable, while confirming its BBB rating Debt Maturities – September 30, 2020 (millions) 2015 repayments $5.05B Only ~$
Slide 131: Proven Financial Discipline and Returns
Proven Financial Discipline and Returns Barrick has reduced debt, net of cash by ~$10 billion in under six years to $0.4 billion and has $7.7 billion of liquidity (including a $3 billion undrawn revolver) as of the end of the third quarter of 2020 The revolver has a maturity date of January 2025 and
Slide 132: Group Gold 5 Year Outlook
Group Gold…5 Year Outlook Gold Production (Attributable), Koz Cost of Sales(3), Total Cash Costs(1) and Gold Capital Expenditures (Attributable), $million AISC(1), $/oz Refer to Appendix A for assumptions used in our five-year indicative outlook; 2020 data reflects production presented at the midpoi
Slide 133: Endnotes
Endnotes 1. “Total cash costs” per ounce, “All-in sustaining costs” per ounce and "All-in costs" per ounce are non-GAAP financial performance measures. “Total cash costs” per ounce starts with cost of sales related to gold production and removes depreciation, the non-controlling interest of cost of
Slide 134: Appendix A – Outlook
Appendix A – Outlook Key assumptions 2021 2022 2023 2024+ Gold Price ($/oz) 1,200 1,200 1,200 1,200 Copper Price ($/lb) 2.75 2.75 2.75 2.75 Oil Price (WTI) ($/barrel) 60 60 60 60 AUD Exchange Rate (AUD:USD) 0.75 0.75 0.75 0.75 ARS Exchange Rate (USD:ARS) 100.00 100.00 100.00 100.00 CAD Exchange Rate
Slide 135: Human Resources
Human Resources… Investor Day 2020, Darian Rich
Slide 136: Recruiting & developing a new generation of leaders
Recruiting & developing a new generation of leaders Our human capital priorities Fit-for-purpose talent framework The Executive Committee is actively engaged in executing the Company’s human capital We employ more than 20,000 people along with another 23,000 strategy with oversight from the Board:
Slide 137: Recruiting a new generation of leaders
Recruiting a new generation of leaders Our people profile (as of September 30, 2020) We have achieved solid progress against our recruitment priorities in 2020, which involves driving the employment of younger candidates as well as women through targeted campaigns
Slide 138: Developing future-ready leaders
Developing future-ready leaders to strengthen and accelerate our leadership pipeline Investing in the right skills, for the Employee development… right jobs, now and into the future… Learning Categories Learning Delivery Methods and course topics wide range of course types We have continued to inves
Slide 139: Engaging our talent across the organization
Engaging our talent across the organization Empowering our people to thrive 1 Communicating directly with the workforce and promoting transparent, two-way communication Flat organization structure provides direct access to 2 line operations Annual team effectiveness programs create a 3 shared unders
Slide 140: Enabling with technology
Enabling with technology Modernizing HR… Our vision of HR technology… Our vision is to deliver a unified HR cloud- based system to provide a global, Global HR Master Data integrated, standardized, simplified, and and Employee Profile Management consistent system of information and access Absence Tal
Slide 141: Our new Human Capital Scorecard
Our new Human Capital Scorecard Evolving our HR Strategy… HR Pillars Drivers Sample KPIs Our new Human Capital Number of new hires, student program We are the most sought scorecard tracks our progress Attract Talent after employer attracting participants, indigenous and native people across five key
Slide 142: Embedding our high performance culture
Embedding our high performance culture We believe that to achieve our goals, we have to work as collaborative teams rather than in silos to be thoroughly transparent about what we are doing, and to track our performance along the way We therefore hold ourselves to account for achieving our company-w
Slide 143: Sustainability
Sustainability… Investor Day 2020, Grant Beringer Group Sustainability Executive
Slide 144: Sustainability is Entrenched in our DNA
Sustainability is Entrenched in our DNA ESG at Barrick Sustainability Strategy To create long-term value for our stakeholders: Bottom-up Leadership Contribute to the social and economic development of our host countries and communities Day-to-day ownership of sustainability risks and opportunities i
Slide 145: Site Level Management - Executive and Board Oversight
Site Level Management - Executive and Board Oversight Our Sustainability Governance Board Oversight We believe that sustainability management is best done at the Corporate Compensation Audit & Risk mine-level. Committee Governance & Committee Nominating The Board has ultimate responsibility for sust
Slide 146: Sustainability Scorecard - Transparently Disclosing our Performance
Sustainability Scorecard - Transparently Disclosing our Performance Aspect Indicator Design highlights Total Recordable Injury Frequency Rate (TRIFR)1 Safety Percentage of sites certified to ISO 45001 We developed an ESG scorecard to track our Percentage of sites with Community Development sustainab
Slide 147: Health and Safety
Health and Safety 3.0 LTIFR2 & TRIFR 2.75 2.5 2.18 2.23 2.11 2.0 1.86 1.64 1.65 1.5 1.0 0.61 0.52 0.47 0.45 0.41 0.5 0.32 0.27 JOURNEY TO ZERO HARM The journey is motivated by our core value of Zero Harm and it is 0.0 underpinned by the Stop Unsafe Work Authority found in our Fatality Q1 19 Q2 19 Q3
Slide 148: Community Investment and Community Engagement
Community Investment and Community Engagement Real Partnerships Our partnership approach is epitomised by our Community Development Committees or CDCs The role of the CDC is to allocate the community investment budget to those projects and initiatives most needed and desired by the local communities
Slide 149: Our Commitments in Action
Our Commitments in Action Regaining our social license in Tanzania Since acquiring North Mara, our focus has been on restoring the license to operate by rebuilding the relationship with the local community Resumed engagement meetings with all villages surrounding the mine Have since developed a CDC
Slide 150: Engagement & Grievance Management
Engagement & Grievance Management Resolving Legacy Grievances Our goal is to respond to all grievances lodged within 30 days of receipt, and to resolve all grievances through the grievance mechanism When we merged, there was a significant number of unresolved grievances outstanding – primarily from
Slide 151: Human Rights
Human Rights Our approach Zero tolerance for human rights violations wherever we operate Our commitment to respect human rights is codified in our Human Rights Policy During 2020, we reviewed our approach to human rights and security to ensure it is suited to the needs and nuances of our expanded bu
Slide 152: Environment
Environment Our Approach Our Performance A CLOSURE PLAN IMPLEMENTED FROM Use mitigation hierarchies to manage our DAY 1 OF MINING negative environmental impacts Zero Class 1 environmental incidents3 Barrick develops closure plans for all its mines recorded for the year-to-date Minimize our use of wa
Slide 153: Climate strategy
Climate strategy Clean Energy Strategy In early 2020, we announced a new emissions reduction target The target is informed by climate science and commits us to achieving at least a 10% reduction on our consolidated 2018 baseline by 2030 – based on a steady ounce production profile The steps we will
Slide 154: Tailings Management
Tailings Management Our Approach & Progress Global Industry Standard on Tailings Management (GISTM) Tailings Storage Facilities (TSF) Barrick involved in the development of the GISTM and 70 63 supported its launch with the ICMMi 60 Preliminary Consequence Classification (CC) as per the 50 GISTM now
Slide 155: Our Sustainability Scorecard
Our Sustainability Scorecard 2020 Proposed 2019 2019 Aspect Indicator Indicator rationale performance 2020 Performance Quintile YTD Quintile Total recordable injury frequency Progress toward zero harm. A fatality or fatalities means a zero 2.24 2 1.64 rate (TRIFR) score for this metric Safety 23% (3
Slide 156: Our Sustainability Scorecard
Our Sustainability Scorecard 2020 Proposed 2019 2019 Aspect Indicator Indicator rationale performance 2020 Performance Quintile YTD Quintile Number of significant Number of significant incidents as a measure of how well our 0 1 0 environmental incidents environmental management systems operate 0.044
Slide 157: Our plans and priorities for 2021
Our plans and priorities for 2021 Key Actions - 2021 Continue to work towards conformance with the World Gold Council’s Responsible Gold Mining Principles and ICMM’s Responsible Mining Principles with external assurance in Q4 2021 Implement our Climate Strategy at the site level and track site level
Slide 158: Endnotes
Endnotes 1. Total reportable incident frequency rate (TRIFR) is a ratio calculated as follows: number of reportable injuries x 1,000,000 hours divided by the total number of hours worked. Reportable injuries include fatalities, lost time injuries, restricted duty injuries, and medically treated inju
Slide 159: Building the Most Valued Mining Company
Building the Most Valued Mining Company… focusing on creating long-term value through responsible and sustainably profitable mining Investor Day 2020, Mark Bristow President and CEO
Slide 160: Our Value Foundation
Our Value Foundation… the value base for our long-term plan Porgera LATAM and AP Africa and Middle East North America Gold Production (Attributable), Koz 5,500 5,500 5,000 5,000 4,500 4,500 4,000 4,000 3,500 3,500 3,000 3,000 2,500 2,500 2,000 2,000 1,500 1,500 1,000 1,000 500 500 0 0 2020 2021 2022
Slide 161: Gold industry must prove its relevance to future generations
Gold industry must prove its relevance to future generations… Governments Successful partnerships in NGOs and host countries are key to Regulators finding, developing and operating Tier One mines Our track record is clear from the success of our operations in Africa where we have delivered long-term
Slide 162: Appendix A – Outlook
Appendix A – Outlook Key assumptions 2021 2022 2023 2024+ Gold Price ($/oz) 1,200 1,200 1,200 1,200 Copper Price ($/lb) 2.75 2.75 2.75 2.75 Oil Price (WTI) ($/barrel) 60 60 60 60 AUD Exchange Rate (AUD:USD) 0.75 0.75 0.75 0.75 ARS Exchange Rate (USD:ARS) 100.00 100.00 100.00 100.00 CAD Exchange Rate
Slide 163: Technical Information
Technical Information The scientific and technical information contained in this presentation has been reviewed and approved by Steven Yopps, MMSA, Manager of Growth Projects, Nevada Gold Mines; Craig Fiddes, SME-RM, Manager – Resource Modeling, Nevada Gold Mines; Chad Yuhasz, P.Geo, Mineral Resourc
Slide 164: Building the Most Valued Mining Company
Building the Most Valued Mining Company… focusing on creating long-term value through responsible and sustainably profitable mining Investor Day 2020, Mark Bristow President and CEO