Barrick Mining Corporation · TSX:ABX
Barrick Mining — Tanzania Minerals and Mining Investment Conference February 2021
26 slides from Barrick Mining's conference presentation, Feb 22, 2021
Slide 1: A year of delivery sets up Barrick Tanzania for the future
A year of delivery sets up Barrick Tanzania for the future Core Shed Bulyanhulu
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: To be world class, we need to be global
To be world class, we need to be global… ii i In Q1 2020, Barrick sold its stake in Massawa to Teranga Gold (“Teranga”) and retained an 11% equity interest in Teranga. In February 2021, Endeavour Mining and Teranga merged. ii In Q1 2021, Barrick announced the sale of Lagunas Norte to Boroo Ptd Ltd (
Slide 4: Barrick bringing mining consolidation and exploration back to Africa
Barrick…bringing mining consolidation and exploration back to Africa BARRICK – RANDGOLD merger Central African Tanzania…Barrick – Acacia buyout Republic South Sudan Senegal…Sale of Massawa to Teranga Kibali Uganda N Ngayu Belt Loulo-Gounkoto (80%) Kenya Lake Jabal Sayid (50%) Democratic Victoria Nor
Slide 5: Timeline of mining in Tanzania
Timeline of mining in Tanzania… Kabanga Nickel Corp. established – A joint venture between LZ Nickel Ltd (84%) and 2021 the Government of Tanzania (16%) 2019 Twiga Minerals Corp. established to manage Bulyanhulu, Buzwagi and North Mara – a joint venture between Barrick Gold Corporation (84%) and the
Slide 6: Delivering on the 2020 Business Plan
Delivering on the 2020 Business Plan… Solid Q4 production performances at North Mara and Bulyanhulu, resulted in both mines delivering near the top end of production guidance Paid the first tranche of $100m of the settlement agreement Barrick Tanzanian operations paid a maiden interim cash dividend
Slide 7: Safety, Health and Environment
Safety, Health and Environment… Safety Quarterly and annual comparison of LTIFR and TRIFR 1 Lost Time Injury (LTI) recorded at Bulyanhulu in 2,5 Q4 2020; LTIFR2 of 0.28 per million hours worked 2,0 vs. 0.38 in Q4 2019 1,5 4 LTIs recorded for the year; LTIFR of 0.31 per 1,0 million hours worked for t
Slide 8: Safety, Health and Environment YTD
Safety, Health and Environment…YTD HIV / AIDS HIV/AIDS prevention actions taken mainly at North Mara - 1257 VCTsi Malaria Incidence and HIV Positivity conducted in 2020 with a positivity rateii of 1.19% vs 1538 VCTs in 2019 with a Rate 2019 vs 2020 positivity rate of 1.63% 14% HIV/AIDS programme wil
Slide 9: Environmental Performance
Environmental Performance… General Water Zero Class 1 & 2 incidents recorded in Q4 20204,5 with zero Class 1 Increase in water efficiencies year on year incidents for the year Bulyanhulu and Buzwagi received first ISO 14001 accreditation during Water Efficiency – Q4 2020 % Reused & Recycled 80% 76%
Slide 10: North Mara Water Management
North Mara…Water Management Since assuming operational control, Barrick has delivered 2019 December 2020 on short-term water management commitments and TSF freeboard was successfully restored Upgrade of the existing Water Treatment Plant (WTP) from 2.5MLDi to 28.6MLD through a number of phases throu
Slide 11: Mining update
Mining…update UG Ore Tonnes6 Improved understanding of orebodies has resulted in a review 300 271 263 of more efficient mining methods with some additional 228 222 opportunities identified to extend LOM 200 North Mara transitioned to underground mining during the 100 80 year and significant improvem
Slide 12: Mining Investing in the Future
Mining…Investing in the Future
Slide 13: Delivered on gold production
Delivered on gold production… Gold Production6 koz 25 27 24 24 9 8 8 27 77 81 79 73 Q1 2020 Q2 2020 Q3 2020 Q4 2020 North Mara Bulyanhulu Buzwagi Full year production of 462koz - well within 2020 guidance Processing of fresh underground material commenced at Bulyanhulu during Q4 2020, following succ
Slide 14: North Mara geological understanding delivers mineral resource and reserve growth
North Mara…geological understanding delivers mineral resource and reserve growth West 2.8 km East GOKONA GENA Conceptual New Gokona UG Access 2020 Gena OP 100% 2020 Gokona OP 100% Deposit Deposit Reserve Resource Pushback7: Pushback7: Mea: 8.3Mt @ 3.39g/t for 0.91Moz Probable Reserves Ind: 0.97Mt @
Slide 15: North Mara operating results
North Mara…operating results Achieved production of 261koz (311koz 100%) in the upper-end of 2020 guidance North Mara (84%)8 Q4 2020 Q3 2020 2020 2019 Through the year… Ore tonnes processed (000) 677 622 2,546 1,829 Significant improvements made to improve costs and Average grade processed (g/t) 3.0
Slide 16: Bulyanhulu ramp up of UG mining and processing on track
Bulyanhulu…ramp up of UG mining and processing on track Surface Portal and Shaft M&I Resource Area East Mine Haulage Level W-E 2,000m 2020 Campaign Feed Area: 96% plant reconciliation Drillholes - results pending 2020 Bulyanhulu 100% Conceptual Total Mineral Resource7: Deep West Ind: 14Mt @ 9.75g/t
Slide 17: Bulyanhulu and Buzwagi operating results
Bulyanhulu and Buzwagi…operating results Bulyanhulu Bulyanhulu (84%)8 Q4 2020 Q3 2020 2020 2019 Ramp-up of underground mining and processing operations on-track Gold produced (oz 000) 23 7 44 27 2021 attributable production guidance of 170 to Gold sold (oz 000) 20 46 103 27 200koz Cost of sales ($/o
Slide 18: National workforce commitment
National workforce commitment… Recruitment ongoing, specifically at the Tanzania Headcount Q4 2020 Bulyanhulu restart project with over 600 new workers appointed since January 2020 Company Expats Contractor Expats Continued engagement on employment and 58 (2%) 59 (2%) transition plans with the Minin
Slide 19: Local contractors and supply strategy
Local contractors and supply strategy… Key achievements - 2020: $290 million spent on local contractors and suppliers in 2020 and $85 million during Q4 2020 Local content plans approved by the Mining Commission for all operations Successful transition to Tanzanian Security Service company Nguvu Moja
Slide 20: In-country investments
In-country investments… Investment $ million 2 $800m paid in country in form of taxes, dividends, 30 permits, infrastructure, salaries and payments to local 100 suppliers Of $290m local spend, $168m fulfils Mining 40 290 Commission criteria for an indigenous company. Proportion of indigenous spend a
Slide 21: CSR key focus areas
CSR…key focus areas Regaining Social License To Operate through effective Stakeholder Engagement Resolving past, long outstanding grievances through the reviewed and approved Grievance Mechanism – 84 outstanding in September 2019 to 6 current legacy grievances Addressing Land Legacy Issues – TSF#2 l
Slide 22: Tanzania a look at 2021
Tanzania…a look at 2021 Deep, lateral extension of Gokona orebody could increase the LOM for North Mara by adding potential resources Increase throughput at the processing plant at North Mara (+390tph) to minimise overall $/t cost Improve North Mara plant recovery by 1% by installing the new 20t oxy
Slide 23: Power of People and Partnerships
Power of People and Partnerships… Governments Successful partnerships in host NGOs and countries are key to finding, Regulators developing and running world class mines Examples of this are reflected in the success of our operations in Africa where we’ve delivered long term value for all our stakeho
Slide 24: Endnotes
Endnotes… 1. A Tier One Gold Asset is an asset with a reserve potential to deliver a minimum 10-year life, 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. Loss time injury frequency rate
Slide 25: Endnotes
Endnotes… 10. Cost of sales applicable to gold per ounce is calculated using cost of sales applicable to gold on an attributable basis (removing the non-controlling interest of 38.5% of Nevada Gold Mines (including 63.1% of South Arturo), 40% of Pueblo Viejo, 20% of Loulo-Gounkoto, 10.3% of Tongon,
Slide 26: Appendix A: Bulyanhulu Deep West Significant Intercept Table
Appendix A: Bulyanhulu Deep West Significant Intercept Tablei, ii Bulyanhulu Deep West Drilling – Q4 2020 i. Capping at 300 g/t Au on the raw data, with minimum of 1m intercept, with at least 60% of Azimuth the resulting intercepts above 2 g/t Au cut-off. Location Type Drill Holeii Dip Interval (m)
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