BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
FORWARD LOOKING STATEMENT Certain statements included herein, including those regarding production, costs, development schedules and other statements that express management’s expectations or estimates of our future performance, constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. The words “believe”, “expect”, “anticipate”, “contemplate”, “target”, “plan”, “intends”, “continue”, “budget”, “estimate”, “may”, “will”, “schedule”, and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management are inherently subject to significant business, economic and competitive uncertainties and contingencies. We caution you that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of Barrick to be materially different from our estimated future results, performance or achievements expressed or implied by those forward-looking statements and our forward-looking statements are not guarantees of future performance. These risks, uncertainties and other factors include, but are not limited to: changes in the worldwide price of gold or certain other commodities (such as silver, copper, diesel fuel and electricity) and currencies; changes in interest rates or gold lease rates that could impact realized prices under our forward sales program; legislative, political or economic developments in the jurisdictions in which Barrick carries on business; operating or technical difficulties in connection with mining or development activities; the speculative nature of gold exploration and development, including the risks of diminishing quantities or grades of reserves; and the risks involved in the exploration, development and mining business. These factors are discussed in greater detail in Barrick’s most recent Form 40-F/Annual Information on file with the U.S. Securities and Exchange Commission and Canadian provincial securities regulatory authorities. Barrick expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, events or otherwise.
1 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
NORTH AMERICAN REGION – FOCUS AREAS FOR VALUE CREATION
BARRICK’S STRATEGIC OBJECTIVES
1.0 FOCUS ON ENVIRONMENT, HEALTH & SAFETY
2.0 DELIVER RESULTS
3.0 STRENGTHEN OUR ORGANIZATION
4.0 GROW THE BUSINESS BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Community McLaughlin Reserve Endowment Storey County School District The Nature Conservancy Mining Association of B.C. Education Fund
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
2 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Human Resources Turnover not a significant issue at Barrick mines Remain competitive Maintain good work environment – be team players Exporter of talent to other regions and Toronto 14.0%
12.0%
10.0%
8.0%
6.0%
4.0%
2.0%
0.0% 2000 2001 2002 2003 2004 2005 (projected)
2005 Worldwide Gold Prices (% Change)
140%
US$(%) AUS$(%) CAD$(%) 132% 130%
120%
110%
101%
100% 99%
90%
80%
70%
60% ar-05 ar-04 ar-03 ay-05 ay-04 ay-03 Jul-05 Jul-04 Jul-03 Jan-05 Jan-04 Jan-03 Sep-05 M Sep-04 M Sep-03 M Nov- 05 Nov- 04 Nov- 03 M M M
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
3 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Cost Pressures
Natural gas prices Natural Gas may leap 71%
Iron ore increases 80% Baosteel Accepts 71.5 Per Cent Iron Ore Price Increase Record Oil Prices & Propane Prices
Strong “Looney” Higher and higher -- again: Gasoline prices set record
Canadian Dollar Gains Most vs U.S. Dollar: Currency Scorecard
Sept. 20 (Bloomberg)
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Barrick North America Consumes 1.2 billion KW of power Consumes 29 million gallons of diesel Consumes 27 million gallons of propane
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
4 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Continually Improve “Every person going home safe. . .” Manage Commodity Consumption Energy Management Continuous Improvement Manage Labor
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Barrick’s Vision: “ To be the world’s best gold company by finding, developing and producing quality reserves in a profitable and socially responsible manner”
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
5 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Western 102 Project - Location
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Western 102 Project Construction/Plant Details Contract to Wartsila for engineering, procurement and construction. 14 – 8.4 Megawatt gensets Net 115.6 MW Plant Total Output Natural gas fired reciprocating engines with closed loop water cooling systems
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
6 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Western 102 Project - Environmental Zero discharge design Closed loop – water glycol cooling system Very low water usage (+/- 200 gallons per day) Emission control – Selective Catalytic Reduction (SCR) Noise abatement – soundproofed and insulated
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Western 102 Project
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
7 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Western 102 Project - Engine Hall B
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Western 102 Project - SCR Emissions Control
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
8 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Eskay Creek British Columbia C A N A D A
Hemlo Ruby Hill – Ontario GoldstrikeU N I T E D S T A T E S Toronto Marigold Head Office Salt Lake City East Archimedes East Archimedes Regional Office Round Mountain Eureka, Nevada Nevada
Eureka, NV Pit West East Dump Dump
BARRICKExpanded GOLDSTRIKE Pad MINE TOUR – NOVEMBER 2005
Ruby Hill - East Archimedes Record of Decision received Pre-strip in 2005-2006 Gold production starts in 2007 6-year mine life $75 million in construction capital, including $31 million in capitalized stripping costs
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
9 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Phase 5A - pre-permitting - 7,460 K tons waste
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Ruby Hill - Mining in July
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
10 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Eskay Creek Round Mountain British Columbia C A N A D A Hemlo Ontario Nevada GoldstrikeU N I T E D S T A T E S Toronto Marigold Head Office Salt Lake City Barrick ownership: 50% East Archimedes Regional Office Round Mountain Nevada Operator: Kinross
Big Smoky Valley
Gold Hill
Pit Expansion Hadley
Round Mountain Mine BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Round Mountain – Pit Expansion Evaluation Significantly extends Life of Mine at low risk Positioned for higher gold prices Bridges production for exploration successes underground Defers closure cost
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
11 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Round Mountain – U/G Exploration Project Plan: 6,400 feet of drift development 39,500 feet of underground drilling Contract signed May 31 with J.S. Redpath First portal shot on July 5 Portal and surface facilities under construction Drilling complete by mid-year 2006 Potential production in 2008
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Round Mountain – U/G Exploration Project
Ultimate Pit Design
Northwest Pit Wall
Proposed Decline South Pit Wall Proposed Drill Program to drill out resource on 100ft centers
Deep Northwest
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
12 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Exploration
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
O R E G O N I D A H O Exploration (4) – Nevada
C A L I F O R N I A N E V A D A Goldstrike Mine
Marigold Mine ELKO C l l a r e B l U T A H h a in c t t t e le G M o u Power Plant n t a Project in
East Archimedes Project
RENO E u r e k a
Round Mountain Mine
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
13 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Goldstrike and Carlin Trend ROSSI STORM REN 2005 Projects DEE MEIKLE RODEO GOLDSTRIKE BETZE/POST
GENESIS W. LEEVILLE Simon Creek JV
CARLIN
CARLIN VALLEY
GOLD QUARRY
0 2.5 5 MILES
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Goldstrike - Property Exploration
ELKO COUNTY Storm Goldstrike ADOBE RANGE EUREKA COUNTY S. Arturo Ren
Meikle Rodeo Elko North Pit North Post Betze-Post
01234 Carlin Miles BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
14 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Goldstrike 2005 Exploration Program 160,000’ drilling completed YTD Program is testing 9 projects in Target Delineation to Reserve Development stages Focus on North Post, PFZ North, North Pit and South Pit resource/reserve development Positive results at North Pit, PFZ North and North Post
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Goldstrike 2005 Target Areas
BOOTSTRAP Quaternary Alluvium 25000N 25000NTertiary Carlin
Jurassic Diorite Devonian Rodeo Creek Unit BANSHEE Devonian Popovich Fm Silurian-Devonian
20000N MEIKLE 20000NRoberts Mountains Fm, TARA Bootstrap Limestone West Banshee P E Silurian Elder Fm, Z GRIFFIN Ordovician Vinini Fm, - N Devonian Slaven Chert n o o r r t Gold Deposit Footprint t h h North Pit E a Property Boundary s 15000N RODEO t 15000N 2005 Target Areas N o r th P o st BETZE DEEP POST SCREAMER
West Areas 10000N 10000N
S D ou ee th p W South Pit a GOLDSTRIKE ll N
5000N 5000N 0 2000 DEEPSTAR Feet
GENESIS
BLUESTAR 0E - 5000E 10000E 20000E 15000E 5000E
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
15 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Goldstrike – Betze-Post Drift Project N
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Goldstrike – Betze-Post Drift Project N
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
16 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
NORTH POST
T Goldstrike – Underground Exploration UL FA ST PO RODEO 1,520 m EAST GRIFFIN 1,220 m EXTENSION 610 m
WEST RODEO MEIKLE 920 m
WEST GRIFFIN 2,130 m BARREL BANSHEE 3,050 m
SOUTH MEIKLE
PLAN VIEW
SURFACE TOPO
WEST EAST SOUTH MEIKLE EXTENSION GRIFFIN GRIFFIN RODEO MEIKLE 920 m 610 m 2,130 m 1,220 m BARREL 1,520 m NORTH POST 3,050 m
BANSHEE
WATER TABLE 3600 FT
WEST RODEO
SECTION VIEW BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005 EXPLORATION 6,100 m RESERVE DEVELOPMENT 9,450 m
TUSCARORA MOUNTAINS INDEPENDENCE MOUNTAINS Dee/Rossi – Nevada
Storm 2C Arturo ELKO COUNTY Rossi Storm S. Button Hill S. Arturo ADOBE RANGE EUREKA COUNTY JB Zone Dee
Meikle
Elko
Goldstrike Betze-Post
Carlin01234 Miles
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
17 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Dee/Rossi 2005 Program 1,250’ UG Development, 34,000’ UG Core drilling and 32,800’ Surface RC Drilling in seven target areas 967’ UG Development, 23,570’ of UG Core drilling in End Zone, Discovery Zone and Dee UG / SW Pit completed YTD Positive results encountered at all four UG targets drill tested YTD Pre-feasibility study on 49er Zone completed Reserve/resource update on Storm at Year End
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Rossi – 2005 UG Drill Plan
End/Discovery Zones 14,088’ Drilling YTD
DISCOVERY ZONE END ZONE
EXPLORATION = 100 FEET N TARGETS 2005 DRILL FANS
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
18 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Dee - 2005 UG Drill Plan
End Zone 2005 Modeled Shape 0.200 opt AU Meridian / Glamis Property Line 5,930 ft. UG Deep North 2005 Drilling YTD Modeled Shape 0.200 opt AU 2005 50 ft. New Drift DC03 Station
U D
N 291000N 200 ft. 268000E
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Dee - South Arturo
Significant results from 2005 program released Oct. 27, 28 Thick intercepts of significant oxide mineralization encountered in 8 holes Area covers 1,000’ by 1,500’ Drilling to continue through Year End
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
19 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Storm Deposit DEE PROPERTY South Arturo Target Drill Hole Locations
Waste Rock
Quaternary Alluvium
Tertiary Carlin Formation
Ordovician Vinini Fm
DEE Pit Devonian Rodeo Creek Fm BD-81
A’ BD-78 BD-79 Devonian Bootstrap Limestone BD-75 BD-73 Silicified breccia BD-76
BD-74 Holes Completed (8) BD-72 A Holes in Progress or Planned
NS Cross Section A – A’
0 500 1000
FEET
6000’ South Arturo NS Cross Section A – A’ BD-075 BD-073 BD-081 BD-072
Tc Cumulative Cumulative Waste Rock Cumulative 350’@0.142 opt 640’@0.048 opt 550’@0.028 opt Tertiary Carlin Formation Drc 10’ @ Tertiary Volcanic Rocks 0.011 opt 35’ @ 0.052 opt bx Breccia
Devonian Rodeo Creek 5000’ 130’ @ ? 0.029 opt ? 305’ @ ? Silurian/Devonian Bootstrap 0.162 opt Limestone 125’ @ Ov 100’ @ 0.014 opt ? Tv 0.066 opt Ordovician Vinini Fm 15’ @ 0.011 opt bx Au intercept >= 0.006 oz/t 60’ @ 0.053 opt 400’ @ 0.050 opt 315’ @ 0.030 opt U 10’ @ 0.008 opt 35’ @ D 0.010 opt 35’ @ 0.028 opt SDb
4000’ BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
500 feet
20 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Ruby Hill 2005 Program 34,500’ combined RC and Core drilling planned Targets include Deep East Archimedes, East Holly, TL Shaft 23,000’ drilling completed YTD Positive results at Deep East Archimedes and TL Shaft Deep Blanchard and RH-426 Zones identified for follow-up on 2006
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Ruby Hill – Deep East Archimedes
t l u East Archimedes a
F
6 Pit Outline 2
4
Ogll
H Deep Archimedes Target Archimedeso Pit l
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y
Og1 - B Tra o ns-Mol w ly Fracture m
a Bl n a nchard Fa - ult
1
5
0
F
a
u
l
t
t l u a Qal F
rd N a
ey v a r 12550E 12900E G 1,000 ’
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
21 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Deep East Archimedes
West Archimedes
6000 East Archimedes East Archimedes Layback 0 500 1000 meters Deep East 5000 Archimedes Ruby Deeps Target
4000 13000 12000 10000 11000 BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Round Mountain Joint Venture Gold Hill and AMI Projects Gold Hill
Round Mountain Mine
Manhattan
AMI Boundary BARRICK0 GOLDSTRIKE2.5 5 MINE TOUR – NOVEMBER 2005 MILES
22 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Round Mountain JV - 2005 Program YTD West Sinter - Deep Vein Target 2 RC/core holes totaling 3,680’ completed Narrow, low to moderate grade vein intercepts in both holes
AMI Exploration Program Targets Identified Include: North Pediment, South Pediment, SE Paleozoic, Palo Alto Hills 19 RC holes totaling 19,360’ completed YTD Follow-up drilling planned at Palo Alto Hills
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Marigold JV 2005 Development Drilling Total 05 YTD drilling N (at Aug 9): 237 holes Reserve Areas 80 VALMY 1 Mile for 155,000 feet Resource Areas
Development Current Targets Marigold Mine 5 NE Area Target 2 32S 8 N Deep 8 Basalt Pit 5 N
TZN Antler Terry Southward Target 1 & 3: Property Boundary
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
23 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Marigold JV 2005 Exploration Targets
N Reserve Areas 80 Property Boundary VALMY 1 Mile Resource Areas
Exploration Current Targets Marigold Mine 5 NE Area x 32S Section 32 8 N Deep 8 Valmy Pits Basalt Target 5 N X Pit Antler Pit TZN Target/ Mackay Sections Pits 19/30/36 Bison Targets
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Summary – Nevada Exploration 2005 exploration programs are nearing completion throughout Nevada Encouraging results have been obtained at the Goldstrike, Dee/Rossi, Ruby Hill projects We expect the 2005 program to result in meaningful reserve/resource additions Barrick currently has a well balanced pipeline of 35 quality projects ranging from Grassroots exploration to Reserve Development
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
24 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Welcome to Barrick Goldstrike
BARRICKBARRICK GOLDSTRIKE GOLDSTRIKE MINE MINE TOUR TOUR – NOVEMBER– NOVEMBER 2005 2005
Goldstrike Property Meikle Roaster Rodeo
Autoclave Open Pit
Administration
BARRICKBARRICK GOLDSTRIKE GOLDSTRIKE MINE MINE TOUR TOUR – NOVEMBER– NOVEMBER 2005 2005
25 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Goldstrike Property Autoclave Betze-PostBetze-Post
Roaster RodeoRodeo MeikleMeikle
BARRICKBARRICK GOLDSTRIKE GOLDSTRIKE MINE MINE TOUR TOUR – – NOVEMBER 2005
Goldstrike’s History Purchased property in 1986 for $62 million Oxide heap-leach operation Increased property significantly: – 600,000 ounces reserves in 1986 – discovered Meikle in 1989 – 27.5 million ounces produced through 2004 – 19.2 million ounces reserves in 2004 Produced ~2Moz per year 1995 – 2004
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
26 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Goldstrike’s Contribution 2005E 2004 Production Reserves
Goldstrike 6%
37% Other N. America 22% 16% South America 47%
25% 22% Australia/Africa 25%
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Goldstrike’s Decision Making Priorities
Human Safety Environmental Protection
Property Protection
Production
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
27 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Goldstrike’s Safety Performance MSHA Reportable Injuries – 2001-2005
60
50 2001 -50 2002 -44 40 2003 & 2004 -38 30 2005 YTD - 27 20
10
0 Jan Feb Mar April May June July Aug Sept Oct Nov Dec
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Goldstrike’s Environmental Stewardship
Concurrent reclamation of waste dumps AA heap leach reclamation State-of-the-art environmental controls in processing and mining
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
28 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Goldstrike’s Community Contribution
Employ 1,600 highly trained and skilled mining professionals $70 million to communities, schools and charities since 1986
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Goldstrike’s Production - 2005 estimates Total production: 2,000,000 – 2,020,000 ounces Total cash cost: $255 – $260 per ounce1
Open Pit contribution Production: 1,470,000 – 1,480,000 ounces Total cash cost: $240 – $250 per ounce1
Underground contribution Production: 530,000 – 540,000 ounces Total cash cost: $300 – $310 per ounce1
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
1 Reflects the impact of the new accounting policy for stripping costs and the inclusion of accretion expense.
29 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
The Outlook for Goldstrike The Next Chapter Cost containment Enhancement initiatives Leverage existing infrastructure Reserve additions
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Peer Group – Cash Cost Increases (Compound Annual Increase - 2002-2005E)
Cortez 17%
NEM Nevada 14%
Round Mtn 11%
Goldstrike 6%
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
30 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Open-PitOpen-Pit OperationsOperations
BARRICKBARRICK GOLDSTRIKE GOLDSTRIKE MINE MINE TOUR TOUR – NOVEMBER – NOVEMBER 2005 2005
Open-Pit – Current Dimensions
9900’9900’
7500’7500’ 1500’1500’
BARRICKBARRICK GOLDSTRIKE GOLDSTRIKE MINE MINE TOUR TOUR – NOVEMBER– NOVEMBER 2005 2005
31 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Open Pit Operations Conventional large truck / shovel operation Operated 24 hours per day Approximately 600 people
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Open Pit Operations – Major Equipment Loading Fleet 4 P&H 2800’s 1 Hitachi 5500 1 Le Tourneau L1850 Trucks 31 Komatsu 930 haul trucks Drills 8 Ingersoll Rand Drills
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
32 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Open-Pit – Mining Rates (000’s) 2001 2002 2003 2004 2005E Tons mined 154,233 142,898 141,693 134,212 132,445 Tons per day 433 401 398 376 370 Tons of ore 17,412 14,552 9,589 9,434 9,253 Grade mined 0.15 0.14 0.20 0.16 0.18 (oz/ton) Reserve grade 0.15 0.15 0.15 0.14 0.13 (oz/ton) Tons waste 136,821 128,346 132,104 124,778 123,192
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Open-Pit – Reducing Costs / Improving Productivity Increasing employee involvement Operating practices Increasing revenue Technology Controlling major costs
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
33 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Open-Pit – Haul Truck Tire Life
Since Oct 2002, focus on improving tire life through awareness, improved technology, and behaviors has led to 50+% increase in life of $22K truck tires.
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Open-Pit – TEAM Approach to Equipment Reliability
Since Aug 2003, building sense of ownership (through involvement, awareness, and team- based problem solving) and focusing on the basics have led to reliability improvements in the haul truck fleet (Phase 1 of TEAM).
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
34 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Open-Pit – Weird II In 2005, performed a 2-month underground mining project from the pit where 20,508 tons were mined, producing 10,647 ounces of gold profitably.
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Open-Pit – Unit Mining Costs Tons Mined Per Manshift (thousands)
$1.18 $1.20 $1.15 250 249 260 245 251 $1.11 236 $1.10 $1.01 $1.02 220 $1.00 194 $0.94 190 211 $0.89 $0.90 181 $0.88 180 165 $0.78 $0.80
$0.78 $0.70 140 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005E
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
35 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
UndergroundUnderground OperationsOperations
BARRICKBARRICK GOLDSTRIKE GOLDSTRIKE MINE MINE TOUR TOUR – NOVEMBER– NOVEMBER 2005 2005
Underground Operations
roasterroaster
Rodeo Meikle
BARRICKBARRICK GOLDSTRIKE GOLDSTRIKE MINE MINE TOUR TOUR – NOVEMBER – NOVEMBER 2005 2005
36 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Underground Operations
Accessed by shaft Operated 24 hours per day Approximately 500 people Mining Methods – drift and fill – long hole open stope
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Underground – Mining Rates (000’s) 2001 2002 2003 2004 2005E Tons hoisted 1,372,431 1,634,875 1,630,648 1,573,321 1,478,168 Tons per day 3,770 4,504 4,523 4,305 4,089 Grade mined 0.561 0.427 0.383 0.401 0.388 (oz/ton) Reserve grade 0.457 0.439 0.398 0.377 0.392 (oz/ton)
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
37 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Underground – Reducing Costs / Improving Productivity Increase employee involvement
Improve approach to maintenance
Alternative mining methods
Operational Improvements
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Underground – 5S Initiative
Our 5S initiative has organized our 1. Sort maintenance shops into a more safe and 2. Set in order 3. Shine efficient workplace. 4. Standardize 5. Sustain
BeforeBefore AfterAfter
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
38 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
UndergroundUnderground –– BetzeBetze Drift Drift ProjectProject
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Underground – Unit Mining Costs (per ton)
$80 $71.28 $70
$58.39 $60 $60.60
$46.60 $50 $44.98 $50.08 $43.07 $39.46 $40 $35.53 $38.12
$30 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005E
Does not include dewatering costs BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
39 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
ProcessingProcessing
BARRICKBARRICK GOLDSTRIKEGOLDSTRIKE MINE MINE TOUR TOUR – –NOVEMBER NOVEMBER 2005
Processing
Two processing facilities – Autoclave –Roaster Operated 24 hours per day Approximately 430 people
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
40 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Processing There are two types of gold ore: Single refractory - the gold is locked in sulfide mineral particles that must be oxidized to expose the gold for cyanide leaching. The autoclaves do this function effectively. Double refractory - the ore also contains preg- robbing carbon that will collect solubilized gold in the leaching circuit if it is not removed (oxidized) first. Both of these problems are solved by roasting the ore at a high temperature.
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Processing – 2005 Estimated Throughput
Tons per Day Autoclave Roaster Total Open Pit 17,952 9,943 27,895 Custom Ore 169 2,190 2,359 Underground 0 4,142 4,142 Total 18,121 16,275 34,396
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
41 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Processing – Throughput Rates
$17.80 $16.59 Processing $16.38 $15.83 $15.19 Cost/Ton 15,000 13,012 12,554 12,301 12,218 10,563 10,000 6,124 Roaster 5,846 5,888 5,940 4,711
5,000
6,888 6,614 Tons per year (million) 5,852 6,455 6,330 Autoclave
0 2001 2002 2003 2004 2005E
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Processing – Reducing Costs / Improving Productivity Employee involvement in CI initiatives and safety programs Optimize reagent consumption
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
42 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Processing – Reagent Optimization Propane Consumption – gallons per ton
3.00 Autoclave
2.50
2.00
1.50 Linear (Autoclave) Roaster 1.00
0.50 Jul 03 Jul Jul 02 Jul Jul 01 Jul Jul-05 Jul-05 Oct 03 Oct 02 Oct 01 Jan 04 Jan Apr 04 Oct-05 Jan 03 Jan Apr 03 Jan 02 Jan Apr 02 Jan 01 Jan Apr 01 Jan-05 Apr-05
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
Processing – Reagent Optimization – Grinding Media Autoclave Grinding Ball Consumption – pounds per ton
4.00
3.50
3.00
2.50
2.00 Jul 03 Jul 04 Jul Jan 03 Jan 04 Jan Oct-05 Apr-05 Jun-05 Mar 03 03 Sep 03 Nov Mar 04 Feb-05 Dec-05 May 03 May 04 May Aug-05
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
43 BARRICK GOLD CORPORATION Goldstrike Tour – November 2005
Summary – Goldstrike Reliable mine generating strong earnings and cash flow Management team focused on maximizing the value of assets Excellent potential to expand reserves particularly in a strong gold price environment
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
BARRICK GOLDSTRIKE MINE TOUR – NOVEMBER 2005
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