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.