barrick-nevada

Barrick Nevada is an integrated gold mining operation that combines the Cortez and Goldstrike properties in Nevada, employing a total of 3,000 employees and 800 contractors. The operation utilizes both open pit and underground mining methods, and hosts a range of processing facilities including heap leaching, roasting, autoclaving, conventional leaching and thiosulfate (cyanide-free) leaching.

Forward-looking information for Barrick Nevada is now presented on a combined basis. Production and financial information for 2016, and proven and probable mineral reserves as of December 31, 2016, are presented separately for Cortez and Goldstrike.

2017 OUTLOOK

  • 2.18-2.26 million ounces of gold
  • $820-$860 cost of sales per ounce
  • $630-$680 all-in sustaining costs1 per ounce

CORTEZ

  • 100 kilometers southwest of Elko, Nevada, in Lander and Eureka counties.
  • Pipeline and Cortez Hills deposits mined by conventional open-pit methods; Cortez Hills underground is an underhand cut-and-fill operation.

Production & Reserves

  • 1.06 million ounces of gold produced in 2016.
  • $901 cost of sales per ounce in 2016.
  • $517 all-in sustaining costs1 per ounce in 2016.
  • 10.2 million ounces of proven and probable gold reserves2 as of December 31, 2016 (151 million tonnes, grading 2.11 grams per tonne).
Operations and Technical Update
February 22, 2017 (PDF)

GOLDSTRIKE

  • 40 kilometers north of Carlin, Nevada, in Elko and Eureka counties.
  • Betze-Post open pit mine is a truck-and-shovel operation; Meikle and Rodeo underground are long-hole open stoping, and drift-and-fill operations.

Production & Reserves

  • 1.1 million ounces of gold produced in 2016.
  • $852 cost of sales per ounce in 2016.
  • $714 all-in sustaining costs1 in 2016.
  • 8.1 million ounces of proven and probable gold reserves2 as of December 31, 2016 (70.7 million tonnes, grading 3.55 grams per tonne).
Operations and Technical Update
February 22, 2017 (PDF)
Date Download Description
January 1, 2013 files/design/bodybg/cortez.jpg
Operations > North America > Cortez

Footnotes

  1. “All-in sustaining costs” per ounce of gold is a non-GAAP financial performance measure. “All-in sustaining costs” per ounce begins with cost of sales less, among other items, the impact of depreciation, and adds further costs which reflect the additional costs of operating a mine, primarily sustaining capital expenditures, general & administrative costs, and minesite exploration and evaluation costs. Barrick believes that the use of “all-in sustaining costs” per ounce will assist investors, analysts, and other stakeholders in understanding the costs associated with producing gold, understanding the economics of gold mining, assessing our operating performance and also our ability to generate free cash flow from current operations, and to generate free cash flow on an overall Company basis. “All-in sustaining costs” per ounce is intended to provide additional information only, and does not have any standardized meaning under IFRS. Although a standardized definition of “all-in sustaining costs” was published in 2013 by the World Gold Council (a market development organization for the gold industry comprised of and funded by 18 gold mining companies from around the world, including Barrick), it is not a regulatory organization, and other companies may calculate this measure differently. This measure should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS. Further details on this non-GAAP measure are provided in the MD&A accompanying Barrick’s financial statements filed from time to time on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.

  2. Estimated in accordance with National Instrument 43-101 as required by Canadian securities regulatory authorities. Estimates are as of December 31, 2016, unless otherwise noted. Complete mineral reserve and mineral resource data for all mines and projects referenced on this website, including tonnes, grades, and ounces, can be found on pages 88-93 of Barrick’s Fourth Quarter and Year-End 2016 Report.
Gold  $ 1,267.70 +11.19 +0.89% Volume: May 29, 2017
ABX NYSE  $ 16.38 +0.42 +2.63% Volume: 11,784,677 May 26, 2017
ABX TSX  $ 22.03 -0.04 -0.18% Volume: 526,038 May 29, 2017
Gold  $ 1,267.70 +11.19 +0.89% Volume: May 29, 2017

Our vision is the generation of wealth through responsible mining — wealth for our owners, our people, and the countries and communities with which we partner.

World Gold Council MemberMember of ICMM

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