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; Cerro Casale project in Chile; and the Pascua-Lama project straddling the Argentina-Chile border. This region hosts 39.4 million ounces of gold or 32% of the company’s overall proven and probable gold reserves¹. The South American mines produced 2.1 million ounces of gold in 2007 at total cash costs of $197 per ounce². Taking advantage of robust copper prices in 2007, Zaldívar, our copper mine in Chile continued to generate significant cash flow and earnings from production of 315 million pounds at total cash costs of $0.70 per pound. For 2008, South America is forecast to contribute 1.95 - 2.05 million ounces of gold at total cash costs of $250 - $270 per ounce, and 315 - 325 million pounds of copper at total cash costs of approximately $1.05 - $1.15 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 cost.