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South America

Barrick’s South America region consists of the Pierina and Lagunas Norte gold mines in Peru; the Veladero gold mine in Argentina; the Zaldívar copper mine in Chile; the Cerro Casale project in Chile; and the Pascua-Lama project on the Chile and Argentina border. The region hosts 53.9 million ounces1 of gold or 39% of the Company’s overall proven and probable gold reserves. In 2010, South America produced 2.1 million ounces of gold at total cash costs of $243 per ounce2 and the Zaldívar copper mine produced 318 million pounds of copper at total cash costs of $1.09 per pound2. In 2011, gold production is expected to be in the range of 1.85-1.90 million ounces at total cash costs of $360-$380 per ounce2. 2011 copper production is expected to be about 300 million pounds at total cash costs of $1.40-$1.50 per pound2.

  1. Click here for more information regarding reserve and resource measurements
  2. Click here for more information regarding the calculation of total cash costs.