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Driven by Returns

ANNUAL REPORT 2012

Financial Highlights

Barrick reported record revenue and operating cash flow as well as strong adjusted net earnings in 2012. Read more.

 

Message from the Founder and Chairman

 

“Barrick is leading the change from a focus on growth, in favor of maximizing free cash flow and achieving growing rates of return: a significant paradigm shift for our industry” Read more.

Peter Munk, Founder and Chairman

 

 

Message from the President and CEO

 

“Our disciplined capital allocation framework is designed with the objective of directing capital to its best use on behalf of our shareholders.

Returns will drive production. Production will not drive returns.” Read more.

Jamie C. Sokalsky, President and Chief Executive Officer

 

Focus on Free Cash Flow

 

“We can’t rely on stronger gold prices to deliver higher returns and free cash flow. We are managing our costs on an all-in sustaining cash cost basis and have significantly reduced budgeted company-wide overhead costs.” Read more.

Ammar Al-Joundi, Executive Vice President and Chief Financial Officer

 

World Class Assets

 

“Bringing Pueblo Viejo into production within guidance and with an excellent safety record is an outstanding achievement for the company. This large, low-cost mine represents the type of high quality asset in which we want to invest our shareholders’ capital.” Read more.

Igor Gonzales, Executive Vice President and Chief Operating Officer

 

Adding Value Through Exploration

 

“Barrick’s exploration pipeline has generated exceptional value for the company based on the discovery of over 157 million ounces since 1990 at below industry average finding costs. Goldstrike, Lagunas Norte, Pascua-Lama and Goldrush are flagship assets that have all been discovered by Barrick’s exploration team.” Read more.

Rob Krcmarov, Senior Vice President, Global Exploration

 

Corporate Responsibility

 

“Corporate responsibility is an integral part of our global business strategy. We create value for our shareholders by operating to high standards and earning broad support from our host communities, governments and stakeholders. This approach helps to manage emerging risks and maintain our position as an industry leader.” Read more.

Kelvin Dushnisky, Senior Executive Vice President

 

Ethical Business Practices

 

“Barrick’s conduct is guided by the highest standards of honesty, integrity, and ethical behavior. These values are critical to our success and vital to securing and maintaining the respect and trust of our employees, the communities where we operate, and our shareholders.” Read more.

Sybil Veenman, Senior Vice President and General Counsel

 

2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998

Annual Reports


1 This 2005 Annual Report has been amended from the version mailed to shareholders to correct certain typographical errors. Please contact Barrick's Investor Relations Department with any questions you may have.

2 Certaines erreurs typographiques dans la version envoyée aux actionnaires ont été corrigées dans le présent rapport annuel de 2005. Veuillez communiquer avec le Service des Relations avec les investisseurs de Barrick pour tout renseignement supplémentaire.

3 This Year-End Report 2005 has been amended from the version released on February 22, 2006 to correct certain typographical errors. Please contact Barrick's Investor Relations Department with any questions you may have.

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