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Barrick Reports Preliminary Full Year and Fourth Quarter Production Results

January 16, 2018

PDF | All amounts expressed in U.S. dollars

TORONTO, January 16, 2018 — Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) (“Barrick” or the “Company”) today announced preliminary full year gold production of 5.32 million ounces for 2017, in line with the Company’s adjusted guidance of 5.30-5.50 million ounces, and preliminary full year gold sales of 5.30 million ounces. Preliminary fourth quarter gold production was 1.34 million ounces, and preliminary fourth quarter gold sales were 1.37 million ounces. The average market price for gold in the fourth quarter was $1,275 per ounce.

Preliminary full year copper production was 413 million pounds, slightly below the Company’s adjusted guidance of 420-440 million pounds for 2017, but in line with our original full year guidance of 400-450 million pounds. Preliminary full year copper sales were 405 million pounds. Preliminary copper production in the fourth quarter was 99 million pounds, and preliminary copper sales in the fourth quarter were 107 million pounds. The average market price for copper in the fourth quarter was $3.09 per pound.

Barrick will provide additional discussion and analysis regarding fourth quarter production and sales when the Company reports quarterly results on February 14, 2018, followed by a conference call and webcast on February 15 at 8:00 am ET. The following table includes preliminary gold and copper production and sales results from our operations:

Production Sales
Three months ended
December 31,
Twelve months ended
December 31,
Three months ended
December 31,
Twelve months ended
December 31,
2017201620172016 2017201620172016
Gold (equity ounces (000s))
Barrick Nevada15306012,3122,155 5395822,3572,162
Pueblo Viejo2182189650700 182197637700
Lagunas Norte113110387435 11498397425
Veladero3110177432544 114194458532
Turquoise Ridge46465211266 8169222257
Acacia595136491530 94134379521
Other Mines – Gold6245238840887 248245852906
Total1,3391,5165,3235,517 1,3721,5195,3025,503
                 
Copper (equity pounds (millions))99101413415 107107405405

ENDNOTES

  1. Includes our 60% equity share of Arturo.
  2. Reflects our 60% equity share of Pueblo Viejo.
  3. Reflects our 50% equity share of Veladero from July 1, 2017 onwards.
  4. Reflects our 75% equity share of Turquoise Ridge.
  5. Reflects our 63.9% equity share of Acacia.
  6. Includes: Golden Sunlight; Hemlo; Porgera on a 47.5% basis; Kalgoorlie on a 50% basis; and Bald Mountain and Round Mountain up to the effective date of their sale, being January 11, 2016.

TECHNICAL INFORMATION

The scientific and technical information contained in this press release has been reviewed and approved by Steven Haggarty, P. Eng., Senior Director, Metallurgy of Barrick who is a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

FOURTH QUARTER 2017 RESULTS

Barrick will report detailed fourth quarter results on Wednesday, February 14, after market close, followed by a conference call and webcast on February 15 at 8:00 am ET.

Toll Free (U.S. and Canada): 1-800-319-4610
International: +1 416 915-3239

The webcast and presentation materials will be available on Barrick’s website at www.barrick.com. The conference call will be available for replay by phone at 1-855-669-9658 (U.S. and Canada toll free), and +1 604 674-8052 (international), access code 1928.


INVESTOR CONTACT
Daniel Oh

Senior Vice President
Investor Engagement and Governance
Telephone: +1 416 307-7474
Email: doh@barrick.com

MEDIA CONTACT
Andy Lloyd

Senior Vice President
Communications
Telephone: +1 416 307-7414
Email: alloyd@barrick.com


CAUTIONARY STATEMENTS REGARDING PRELIMINARY FOURTH QUARTER PRODUCTION AND SALES FOR 2017

Barrick cautions that, whether or not expressly stated, all 2017 figures contained in this press release including production levels and sales are preliminary, and reflect our expected 2017 results as of the date of this press release. Actual reported fourth quarter production levels and sales are subject to management’s final review, as well as review by the Company’s independent accounting firm, and may vary significantly from those expectations because of a number of factors, including, without limitation, additional or revised information and changes in accounting standards or policies, or in how those standards are applied. Barrick will provide additional discussion and analysis and other important information about its fourth quarter production levels and sales when it reports actual results on February 14, 2018. Barrick further cautions that the information contained in this press release does not provide a complete picture of the Company’s overall performance and profitability, as this press release does not address any of the costs associated with the production of gold and copper reported herein. For a complete picture of the Company’s financial performance, it will be necessary to review all of the information in the Company’s fourth quarter financial report and related MD&A. Accordingly, readers are cautioned not to rely solely on the production information contained herein.

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