Australia Pacific
Barrick’s Australia Pacific region is headquartered in Perth, Western Australia and comprises 9 operating mines: Kalgoorlie (50% interest); Kanowna, Plutonic, and Yilgarn South (Granny Smith, Darlot and Lawlers) in Western Australia; Cowal in New South Wales; the Osborne copper-gold mine in Queensland; and Porgera (95%) in Papua New Guinea.
At the end of 2008, the Australia Pacific region contained 18.8 million ounces of proven and probable gold reserves, representing 14% of the Company's total reserve base1. The region produced 1.9 million ounces of gold at total cash costs of $550 per ounce and 75 million pounds of copper at total cash costs of $1.64 per pound in 20082.
In 2007 Barrick purchased a large, highly prospective exploration package and the Kainantu property in Papua New Guinea. Barrick now has access to over 5,300 square kilometres of contiguous ground for exploration in one of the world's most highly endowed, under-explored gold and copper regions. The Australia Pacific region also includes the Reko Diq project, a large copper-gold porphyry mineral resource on the Tethyan belt, located in southwest Pakistan in the province of Balochistan. A feasibility study for Reko Diq is scheduled for completion in the first half of 2010.
1 Click here for more information regarding reserve and resource measurements.
2 Click here for more information regarding the calculation of total cash costs.