North America - 

Pueblo Viejo

Pueblo Viejo is located in the Dominican Republic, approximately 100 kilometres northwest of the capital city of Santo Domingo. Barrick holds a 60% interest and is the operator with Goldcorp owning the remaining 40% interest.

Barrick has continued to grow Pueblo Viejo’s reserves since acquiring the project with the Placer Dome acquisition. Reserves have increased approximately 77% or 10.3 million ounces to 23.7 million ounces (100% basis), resulting in an expected mine life of over 25 years. Barrick’s equity share of proven and probable gold reserves at Pueblo Viejo increased to 14.2 million ounces as of December 31, 2009².

The Pueblo Viejo project continues to advance in line with its $3.0 billion capital budget (100% basis), and initial production continues to be anticipated in the fourth quarter of 2011. At the end of the second quarter, overall construction was more than 25% complete, approximately 70% of the capital had been committed and engineering and procurement by major EPCM contractors was about 95% complete. About 92,000 cubic meters of concrete or about 60% of the total have been poured and 5,000 tons of steel, representing about 30% of the total, have been erected. Two of the autoclaves are in country, and all four mills have been installed on their footings. Barrick’s 60% share of annual gold production in the first full five years of operation is expected to average 625,000-675,000 ounces at total cash costs of $250-$275 per ounce³.