Barrick Gold Corporation is the gold industry leader, with a portfolio of operating mines and projects located across five continents, as well as large land positions on some of the most prolific mineral trends. The Company has:
· the gold industry’s only ‘A’ rated balance sheet;
· the gold industry’s largest production, reserves and market capitalization;
· three advanced projects in construction expected to contribute lower cost production over the next three years; and
· an unwavering commitment to safe and responsible mining
Barrick is in a strong financial position. The Company generated $2.2 billion of operating cash flow in 2008; had $1.4 billion in cash; and a $1.5 billion undrawn line of credit as at December 31, 2008.
With the industry’s largest production of 7.7 million ounces in 2008 and largest reserves of 138.5 million ounces, Barrick offers investors exceptional leverage to higher gold prices. The Company also has 6.4 billion pounds of copper reserves and 1.09 billion ounces of contained silver within gold reserves as at December 31, 2008.
Three new advanced projects, which include Buzwagi in Tanzania, Cortez Hills in Nevada, and Pueblo Viejo in the Dominican Republic, collectively are expected to contribute nearly two million ounces of lower cost average annual production once at full capacity.
Barrick is committed to sustainable economic development, environmental stewardship and a culture of safety. Barrick was added to the Dow Jones Sustainability Index – World in 2008 and maintained its listing on the Dow Jones Sustainability Index – North America for the second year in a row.
In 2008, Barrick produced 7.66 million ounces of gold at cash costs of $443 per ounce1 ($337 per ounce3 on a full credit for non gold sales basis). In addition, the Company produced 370 million pounds of copper at a total cash cost of $1.19 per pound. For 2009, Barrick is expecting gold production of 7.2 - 7.6 million ounces and copper production of approximately 375 - 400 million pounds. Total cash costs are expected to be $450 - $475 per ounce1 ($360 - $385 per ounce3 on a full credit for non-gold sales basis) and $1.25 - $1.35 per pound of copper. For 2010, the Company expects production to increase to about 7.7 - 8.1 million ounces at expected lower cash costs with new production from Cortez Hills.
Barrick shares are traded on the Toronto and New York stock exchanges.