Summary of Operations

Transcription

1 Summary of Operations Three months ended Dec Gold Produced Gold Sold Cost of Sales per ounce Cash Costs ($/oz) 4 Costs ($/oz) 4 Gold Produced Gold Sold Cost of Sales per ounce Cash Costs ($/oz) 4 Costs ($/oz) 4 Barrick Nevada $794 $506 $ $864 $478 $60 Pueblo Viejo (60%) Lagunas Norte Veladero Turquoise Ridge (75%) Porgera (47.5%) Kalgoorlie (50%) Acacia (6.9%) Hemlo Golden Sunlight,,8,6 7,64,6,45 Total Continuing Operations,9,7 $80 $540 $7,56,59 $784 $58 $69 Round Mountain (50%) Bald Mountain Total Divested Sites Total Consolidated Barrick,,9,7 $80 $545 $756,56,59 $784 $540 $7 Three months ended Dec Produced (Mlbs) Sold (Mlbs) Cost of Sales per pound C Cash Produced (Mlbs) Sold (Mlbs) Cost of Sales per pound C Cash Zaldívar (50%) 8 $.9 $.78 $.45 0 $.87 $.46 $.97 Lumwana Jabal Sayid (50%) Total $.79 $.7 $ $.4 $.47 $.04 We sold 50% of Veladero on June 0, 07; therefore these represent results on a 00% basis from January to June 0, 07 and on a 50% basis from July, 07 onwards. Round Mountain and Bald Mountain were effectively divested on January, 06. Total consolidated Barrick cash costs and all-in sustaining costs per ounce include the impact of hedges and/or costs allocated to non-operating sites. 4 Cash costs per ounce, all-in sustaining costs per ounce, C cash costs per pound and all-in sustaining costs per pound are non-gaap financial performance measures with no standard meaning under IFRS. For further information please refer to endnote #. For a reconciliation please see non-gaap financial performance measures section of the latest quarterly MD&A. BARRICK FOURTH QUARTER 07

2 Summary of Operations Twelve months ended Dec Gold Produced Gold Sold Cost of Sales per ounce Cash Costs ($/oz) 4 Costs ($/oz) 4 Gold Produced Gold Sold Cost of Sales per ounce Cash Costs ($/oz) 4 Costs ($/oz) 4 Barrick Nevada,,57 $79 $455 $64,55,6 $876 $50 $68 Pueblo Viejo (60%) Lagunas Norte Veladero Turquoise Ridge (75%) Porgera (47.5%) Kalgoorlie (50%) Acacia (6.9%) Hemlo , Golden Sunlight 4 4,4,65,9 4 6,5,76,49 Total Continuing Operations 5, 5,0 $79 $5 $70 5,509 5,49 $797 $50 $674 Round Mountain (50%) $70 $608 $60 Bald Mountain , 7 69 Total Divested Sites $779 $60 $808 Total Consolidated Barrick, 5, 5,0 $794 $56 $750 5,57 5,50 $798 $546 $70 Twelve months ended Dec Produced (Mlbs) Sold (Mlbs) Cost of Sales per pound C Cash Produced (Mlbs) Sold (Mlbs) Cost of Sales per pound C Cash Zaldívar (50%) 4 $.5 $.66 $. 4 4 $.9 $.55 $.05 Lumwana Jabal Sayid (50%) Total $.77 $.66 $ $.4 $.49 $.05 We sold 50% of Veladero on June 0, 07; therefore these represent results on a 00% basis from January to June 0, 07 and on a 50% basis from July, 07 onwards. Round Mountain and Bald Mountain were effectively divested on January, 06. Total consolidated Barrick cash costs and all-in sustaining costs per ounce include the impact of hedges and/or costs allocated to non-operating sites. 4 Cash costs per ounce, all-in sustaining costs per ounce, C cash costs per pound and all-in sustaining costs per pound are non-gaap financial performance measures with no standard meaning under IFRS. For further information please refer to endnote #. For a reconciliation please see non-gaap financial performance measures section of the latest quarterly MD&A. BARRICK FOURTH QUARTER 07

3 Barrick Nevada - Total Barrick Nevada - Goldstrike Barrick Nevada - Cortez Pueblo Viejo (60%) Lagunas Norte Veladero Three months ended Dec, Tonnes mined (thousands) 5,787 44,68 7,57 6,6 5,40 8,566 6,9 5,9 6,975 0,098 9,050 8,85 Open Pit 5,07 4,974 6,969 5,67 5,0 8,0 6,9 5,9 6,975 0,098 9,050 8,85 Underground n/a n/a n/a n/a n/a n/a Open Pit $.46 $.69 $.59 $.68 $.9 $.69 $.8 $.98 $ 4.04 $.8 $.6 $.9 Underground $ 07.8 $ 07.6 $ 8.85 $ 0.79 $ 9.4 $ 0.69 n/a n/a n/a n/a n/a n/a Tonnes processed (thousands) 5,44 7,95,055,996,89 5,957,7,9 4, 4,5,994 7,56 Oxide Mill,09,7-8,09,09 n/a n/a n/a n/a n/a n/a Roaster,4, n/a n/a n/a n/a n/a n/a Autoclave,085,000,085,000 n/a n/a,7,9 n/a n/a n/a n/a Heap Leach,86 4,67 n/a n/a,86 4,67 n/a n/a 4, 4,5,994 7,56 Oxide Mill $.60 $ 4.59 n/a n/a n/a n/a n/a n/a Roaster $.8 $. n/a n/a n/a n/a n/a n/a Autoclave $ 5.5 $ $ 6.7 $ 8.9 n/a n/a n/a n/a Heap Leach $.77 $. n/a n/a $ 4.66 $. $ 5.00 $ 4.04 Open Pit mined Underground mined n/a n/a n/a n/a n/a n/a Processed Recovery rate (percent) 86% 86% 9% 94% n/a n/a n/a n/a Oxide Mill 87% 90% n/a n/a n/a n/a n/a n/a Roaster 88% 90% n/a n/a n/a n/a n/a n/a Autoclave 5% 64% 9% 94% n/a n/a n/a n/a Production (thousands of ounces) Oxide Mill 7 84 n/a n/a n/a n/a n/a n/a Roaster 46 8 n/a n/a n/a n/a n/a n/a Autoclave n/a n/a n/a n/a Heap Leach n/a n/a Sales (thousands of ounces) Cost of Sales per ounce ($/oz) $ 794 $ 864 $ 795 $ 450 $ 659 $ 6 $ 95 $ 89 Operating costs $ 48 $ 450 $ 44 $ 04 $ 48 $ 48 $ 564 $ 594 Royalties and production taxes $ 5 $ 8 $ 44 $ 7 $ $ $ 45 $ 48 Cash costs $ 506 $ 478 $ 88 $ 4 $ 46 $ 79 $ 609 $ 64 Depreciation $ 88 $ 8 $ 58 $ 7 $ 6 $ 9 $ 95 $ 8 All-in sustaining costs $ 696 $ 60 $ 498 $ 44 $ 547 $ 46 $ 950 $ 905 Capital expenditures ($ millions) Minesite sustaining $ 94 $ 74 $ 8 $ 9 $ 7 $ $ 9 $ 49 Projects $ 6 $ $ - $ - $ $ $ - $ - Total capital expenditures ($ millions) $ 57 $ 07 $ 8 $ 9 $ 8 $ 4 $ 9 $ 49 We sold 50% of Veladero on June 0, 07; therefore these represent results on a 00% basis from January to June 0, 07 and on a 50% basis from July, 07 onwards. BARRICK FOURTH QUARTER 07

4 Barrick Nevada - Total Barrick Nevada - Goldstrike Barrick Nevada - Cortez Pueblo Viejo (60%) Lagunas Norte Veladero Twelve months ended Dec, Tonnes mined (thousands),090 9,75 76,587 67,84 4,50 4,99,40,78,859 40,847 48,76 6,7 Open Pit 08,40 89,94 74,949 66,040,9,90,40,78,859 40,847 48,76 6,7 Underground,850,8,68,794,,08 n/a n/a n/a n/a n/a n/a Open Pit $.44 $.48 $.47 $.49 $.4 $.48 $.90 $.8 $. $.47 $.99 $. Underground $ $ 0.0 $.85 $ $ 9.5 $ n/a n/a n/a n/a n/a n/a Tonnes processed (thousands),894,47 8,04 7,6 5,85 5, 4,79 4,57 7,874 7,5,90 8,08 Oxide Mill 4,56 4,97-8 4,56 4,79 n/a n/a n/a n/a n/a n/a Roaster 4,90 4,789,78,98,9 86 n/a n/a n/a n/a n/a n/a Autoclave 4,58,50 4,58, ,79 4,57 n/a n/a n/a n/a Heap Leach 0,7 9,984 n/a n/a 0,7 9,984 n/a n/a 7,874 7,5,90 8,08 Oxide Mill $ 0.70 $. n/a n/a n/a n/a n/a n/a Roaster $.4 $ 4.7 n/a n/a n/a n/a n/a n/a Autoclave $ 54. $ 60.0 $ 4.0 $ 7.88 n/a n/a n/a n/a Heap Leach $.96 $ 0.97 n/a n/a $.8 $.47 $ 4.60 $.5 Open Pit mined Underground mined n/a n/a n/a n/a n/a n/a Processed Recovery rate (percent) 86% 79% 9% 9% n/a n/a n/a n/a Oxide Mill 9% 88% n/a n/a n/a n/a n/a n/a Roaster 89% 90% n/a n/a n/a n/a n/a n/a Autoclave 6% 6% 9% 9% n/a n/a n/a n/a Production (thousands of ounces),, Oxide Mill n/a n/a n/a n/a n/a n/a Roaster 99,5 n/a n/a n/a n/a n/a n/a Autoclave n/a n/a n/a n/a Heap Leach 78 9 n/a n/a Sales (thousands of ounces),57, Cost of Sales per ounce ($/oz) $ 79 $ 876 $ 699 $ 564 $ 67 $ 65 $ 897 $ 87 Operating costs $ 4 $ 477 $ 6 $ 54 $ 7 $ 5 $ 550 $ 56 Royalties and production taxes $ $ 5 $ 4 $ 4 $ $ $ 47 $ 46 Cash costs $ 455 $ 50 $ 405 $ 95 $ 405 $ 8 $ 597 $ 58 Depreciation $ 6 $ 7 $ 4 $ $ 7 $ 7 $ 6 $ All-in sustaining costs $ 64 $ 68 $ 55 $ 490 $ 48 $ 59 $ 987 $ 769 Capital expenditures ($ millions) Minesite sustaining $ 60 $ 7 $ 69 $ 6 $ 0 $ 5 $ 7 $ 95 Projects $ 4 $ $ - $ - $ 5 $ 5 $ - $ - Total capital expenditures ($ millions) $ 584 $ 8 $ 69 $ 6 $ 5 $ 56 $ 7 $ 95 We sold 50% of Veladero on June 0, 07; therefore these represent results on a 00% basis from January to June 0, 07 and on a 50% basis from July, 07 onwards. BARRICK FOURTH QUARTER 07

5 Turquoise Ridge (75%) Hemlo Golden Sunlight Three months ended Dec, Tonnes mined (thousands) 70 55,855, Open Pit n/a n/a,48,69 n/a n/a Underground Open Pit n/a n/a $ 4.79 $ 4.8 n/a n/a Underground $ 45.6 $ 6.58 $ $ 6. $ $ 4.8 Tonnes processed (thousands) Oxide Mill n/a n/a Autoclave 9 4 n/a n/a n/a n/a Oxide Mill n/a n/a $ 8.50 $ 8.8 $ 5.08 $ 4.67 Autoclave $ 5.4 $.9 n/a n/a n/a n/a Open Pit mined n/a n/a.4.7 n/a n/a Underground mined Processed Recovery rate (percent) 94% 9% 9% 94% 8% 69% Oxide Mill n/a n/a 9% 94% 8% 69% Autoclave 94% 9% n/a n/a n/a n/a Production (thousands of ounces) Oxide Mill n/a n/a Autoclave n/a n/a n/a n/a Sales (thousands of ounces) Cost of Sales per ounce ($/oz) $ 67 $ 595 $ 8 $ 78 $, $,64 Operating costs $ 550 $ 484 $ 665 $ 480 $,84 $,6 Royalties and production taxes $ - $ - $ 5 $ 45 $ 4 $ 6 Cash costs $ 550 $ 484 $ 690 $ 65 $,8 $,6 Depreciation $ $ $ 9 $ 00 $ () $ 99 All-in sustaining costs $ 68 $ 60 $ 864 $ 8 $,6 $,45 Capital expenditures ($ millions) Minesite sustaining $ 7 $ 8 $ 0 $ 5 $ - $ - Projects $ 4 $ - $ $ - $ - $ - Total capital expenditures ($ millions) $ $ 8 $ $ 5 $ - $ - BARRICK FOURTH QUARTER 07

6 Turquoise Ridge (75%) Hemlo Golden Sunlight Twelve months ended Dec, Tonnes mined (thousands) ,650 7, Open Pit n/a n/a 5,0 6,747 n/a n/a Underground ,0, Open Pit n/a n/a $ 4.7 $ 4.0 n/a n/a Underground $ 6.05 $ 65.9 $ 65.4 $ 65.4 $ $ 5.68 Tonnes processed (thousands) 47 5,5, Oxide Mill n/a n/a,5, Autoclave 47 5 n/a n/a n/a n/a Oxide Mill n/a n/a $ 9. $ 9.0 $ 4.0 $ 5.66 Autoclave $ $.05 n/a n/a n/a n/a Open Pit mined n/a n/a..8 n/a n/a Underground mined Processed Recovery rate (percent) 9% 9% 9% 94% 8% 78% Oxide Mill n/a n/a 9% 94% 8% 78% Autoclave 9% 9% n/a n/a n/a n/a Production (thousands of ounces) Oxide Mill n/a n/a Autoclave 66 n/a n/a n/a n/a Sales (thousands of ounces) Cost of Sales per ounce ($/oz) $ 75 $ 60 $ 986 $ 795 $,4 $,5 Operating costs $ 589 $ 498 $ 79 $ 597 $, $,4 Royalties and production taxes $ - $ - $ 50 $ 8 $ 4 $ Cash costs $ 589 $ 498 $ 84 $ 679 $,65 $,76 Depreciation $ 6 $ 04 $ 40 $ $ 64 $ 7 All-in sustaining costs $ 7 $ 65 $,09 $ 89 $,9 $,49 Capital expenditures ($ millions) Minesite sustaining $ $ $ 44 $ 7 $ - $ Projects $ 4 $ - $ 5 $ - $ $ - Total capital expenditures ($ millions) $ 6 $ $ 49 $ 7 $ $ BARRICK FOURTH QUARTER 07

7 Porgera (47.5%) Kalgoorlie (50%) Three months ended Dec, Tonnes mined (thousands),776,0 5,790 8,08 Open Pit,54,6 5,668 8,075 Underground 5 04 Open Pit $ 5.8 $ 5.08 $ 4.09 $.98 Underground $ 46.5 $ $ $.90 Tonnes processed (thousands) 75 7,596,674 Oxide Mill 75 7,596,674 Oxide Mill $ 9.59 $ 8.74 $ 0.99 $ 9.65 Open Pit mined Underground mined Processed Recovery rate (percent) 87% 89% 84% 8% Oxide Mill 87% 89% 84% 8% Production (thousands of ounces) Oxide Mill Sales (thousands of ounces) Cost of Sales per ounce ($/oz) $ 864 $ 9 $ 850 $ 77 Operating costs $ 676 $ 78 $ 645 $ 605 Royalties and production taxes $ 9 $ 7 $ 0 $ Cash costs $ 705 $ 765 $ 675 $ 68 Depreciation $ 49 $ 4 $ 7 $ 49 All-in sustaining costs $ 897 $ 98 $ 796 $ 7 Capital expenditures ($ millions) Minesite sustaining $ 6 $ $ 8 $ 7 Projects $ - $ - $ - $ - Total capital expenditures ($ millions) $ 6 $ $ 8 $ 7 BARRICK FOURTH QUARTER 07

8 Porgera (47.5%) Kalgoorlie (50%) Twelve months ended Dec, Tonnes mined (thousands),504 8,09 6,68,00 Open Pit 0,679 7,6 6,60,499 Underground Open Pit $ 4.5 $ 5.5 $.57 $.94 Underground $ $ 5.09 $ 4.70 $.4 Tonnes processed (thousands),798,70 6,46 6,479 Oxide Mill,798,70 6,46 6,479 Oxide Mill $ 0.5 $ 9. $ 0. $ 9.6 Open Pit mined Underground mined Processed Recovery rate (percent) 86% 88% 8% 8% Oxide Mill 86% 88% 8% 8% Production (thousands of ounces) Oxide Mill Sales (thousands of ounces) Cost of Sales per ounce ($/oz) $ 944 $ 86 $ 806 $ 76 Operating costs $ 75 $ 66 $ 6 $ 596 Royalties and production taxes $ 8 $ 8 $ $ Cash costs $ 78 $ 689 $ 64 $ 67 Depreciation $ 5 $ 9 $ 59 $ 47 All-in sustaining costs $ 99 $ 858 $ 79 $ 706 Capital expenditures ($ millions) Minesite sustaining $ 55 $ 4 $ 0 $ Projects $ - $ - $ - $ - Total capital expenditures ($ millions) $ 55 $ 4 $ 0 $ BARRICK FOURTH QUARTER 07

9 Acacia (6.9%) Three months ended Dec, Tonnes mined (thousands),68 6,6 Tonnes processed (thousands),85,640 Open Pit mined.66.5 Underground mined Processed Recovery rate (percent) 90% 89% Mining 9% 9% Reprocessed tailings 59% 47% Production (thousands of ounces) 95 6 Sales (thousands of ounces) 94 4 Cost of Sales per ounce ($/oz) $ 774 $ 95 Operating costs $ 486 $ 6 Royalties and production taxes $ 95 $ 56 Cash costs $ 58 $ 679 Depreciation $ 70 $ All-in sustaining costs $ 779 $ 95 Capital expenditures ($ millions) Minesite sustaining $ $ 6 Projects $ $ Total capital expenditures ($ millions) $ 4 $ 7 Acacia (6.9%) Twelve months ended Dec, Tonnes mined (thousands) 0,95 4,596 Tonnes processed (thousands) 5,57 6,74 Open Pit mined Underground mined Processed Recovery rate (percent) 90% 89% Mining 9% 9% Reprocessed tailings 48% 46% Production (thousands of ounces) Sales (thousands of ounces) 79 5 Cost of Sales per ounce ($/oz) $ 79 $ 880 Operating costs $ 5 $ 58 Royalties and production taxes $ 76 $ 58 Cash costs $ 587 $ 640 Depreciation $ 80 $ 0 All-in sustaining costs $ 875 $ 958 Capital expenditures ($ millions) Minesite sustaining $ 87 $ 0 Projects $ 7 $ Total capital expenditures ($ millions) $ 95 $ Includes processing of tailings retreatment. For further information and reconciliation, please see non-gaap financial performance measures section of Barrick's latest quarterly MD&A BARRICK FOURTH QUARTER 07

10 Mine Statistics () - Total Zaldívar (50%) Lumwana Jabal Sayid (50%) Three months ended Dec, Tonnes mined (thousands) 5,5 6,07 6,84 9,5 8,5 6, Tonnes processed (thousands) 9,700 0,545,5 5,056 5,94 5, Average grade 0.55% 0.60% 0.54% 0.58% 0.48% 0.56%.5%.9% Recovery rate (percent) 84% 7% n/a n/a 9% 95% 94% 9% Production (millions of pounds) Sales (millions of pounds) Cost of Sales per pound ($/lb) $.79 $.4 $.9 $.87 $.60 $.0 $.5 $.89 Costs per pound C Cash Costs $.7 $.47 $.78 $.46 $.6 $.45 $.05 $.79 Depreciation $ 0.40 $ 0.5 $ 0.47 $ 0.45 $ 0.7 $ 0.5 $ 0.9 $ 0. All-in sustaining costs $.5 $.04 $.45 $.97 $.5 $.99 $.4 $.7 Capital expenditures ($ millions) Minesite sustaining $ 68 $ 48 $ $ 6 $ 4 $ 7 $ 4 $ 5 Projects $ - $ - $ - $ - $ - $ - $ - $ - Total capital expenditures ($ millions) $ 68 $ 48 $ $ 6 $ 4 $ 7 $ 4 $ 5 - Total Zaldívar (50%) Lumwana Jabal Sayid (50%) Twelve months ended Dec, Tonnes mined (thousands) 06,979 97,94 9,66 4,50 76,4 6,85,00 79 Tonnes processed (thousands) 9,6 40,495 4,897 8,6,447, Average grade 0.60% 0.58% 0.59% 0.50% 0.5% 0.60%.5%.% Recovery rate (percent) 80% 80% n/a n/a 9% 95% 94% 9% Production (millions of pounds) Sales (millions of pounds) Cost of Sales per pound ($/lb) $.77 $.4 $.5 $.9 $.57 $.6 $.90 $.98 Costs per pound C Cash Costs $.66 $.49 $.66 $.55 $.66 $.44 $.70 $.97 Depreciation $ 0.7 $ 0. $ 0.48 $ 0.7 $ 0. $ 0.5 $ 0.4 $ 0. All-in sustaining costs $.4 $.05 $. $.05 $.5 $.97 $.0 $.98 Capital expenditures ($ millions) Minesite sustaining $ 04 $ 70 $ 58 $ 57 $ $ 96 $ $ 7 Projects $ - $ - $ - $ - $ - $ - $ - $ - Total capital expenditures ($ millions) $ 04 $ 70 $ 58 $ 57 $ $ 96 $ $ 7 C cash costs per pound and All in sustaining costs per pound are non-gaap financial performance measures with no standard meaning under IFRS. Depreciation per pound includes inventory purchase accounting adjustments. BARRICK FOURTH QUARTER 07

11 TECHNICAL INFORMATION The scientific and technical information contained in these mine statistics has been reviewed and approved by Steven Haggarty, P.Eng., Senior Director, Metallurgy of Barrick who is a Qualified Person as defined in National Instrument 4-0 Standards of Disclosure for Mineral Projects. ENDNOTE # Cash costs per ounce and All-in sustaining costs per ounce are non-gaap financial performance measures. Cash costs per ounce starts with cost of sales applicable to gold production, but excludes the impact of depreciation, the non-controlling interest of cost of sales, and includes by-product credits. All-in sustaining costs per ounce begin with Cash costs per ounce and add further costs which reflect the additional costs of operating a mine, primarily sustaining capital expenditures, general & administrative costs, minesite exploration and evaluation costs, and reclamation cost accretion and amortization. Barrick believes that the use of cash costs per ounce and all-in sustaining costs per ounce will assist investors, analysts and other stakeholders in understanding the costs associated with producing gold, understanding the economics of gold mining, assessing our operating performance and also our ability to generate free cash flow from current operations and to generate free cash flow on an overall Company basis. Cash costs per ounce and All-in sustaining costs per ounce are intended to provide additional information only and do not have any standardized meaning under IFRS. Although a standardized definition of all-in sustaining costs was published in 0 by the World Gold Council (a market development organization for the gold industry comprised of and funded by gold mining companies from around the world, including Barrick), it is not a regulatory organization, and other companies may calculate this measure differently. These measures should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS. For further information and a detailed reconciliation of these non-gaap measures to the most directly comparable IFRS measure, please refer to the MD&A accompanying Barrick s financial statements filed from time to time on SEDAR at and on EDGAR at C cash costs per pound and All-in sustaining costs per pound are non-gaap financial performance measures. C cash costs per pound is based on cost of sales but excludes the impact of depreciation and royalties and includes treatment and refinement charges. All-in sustaining costs per pound begins with C cash costs per pound and adds further costs which reflect the additional costs of operating a mine, primarily sustaining capital expenditures, general & administrative costs and royalties. Barrick believes that the use of C cash costs per pound and all-in sustaining costs per pound will assist investors, analysts, and other stakeholders in understanding the costs associated with producing copper, understanding the economics of copper mining, assessing our operating performance, and also our ability to generate free cash flow from current operations and to generate free cash flow on an overall Company basis. C cash costs per pound and All-in sustaining costs per pound are intended to provide additional information only, do not have any standardized meaning under IFRS, and may not be comparable to similar measures of performance presented by other companies. These measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. For further information and a detailed reconciliation of these non-gaap measures to the most directly comparable IFRS measure, please refer to the MD&A accompanying Barrick s financial statements filed from time to time on SEDAR at and on EDGAR at