The Cortez mine is located 100 kilometers southwest of Elko, Nevada, on one of the world’s most highly-prospective mineral trends. The Pipeline and Cortez Hills deposits are mined by conventional open-pit methods, and the Cortez Hills underground is an underhand cut and fill operation.
With a 382-square-mile land package, Cortez remains a highly prospective district for Barrick.
The mine produced 999,000 ounces of gold in 2015, at a cost of sales of $826 million, and all-in sustaining costs of $603 per ounce1. In 2016, production is expected to be 1.00-1.05 million ounces, at a cost of sales of $880-$920 per ounce, and all-in sustaining costs of $510-$530 per ounce.1
Proven and probable mineral reserves as of December 31, 2015, were 11.1 million ounces of gold2 (153.2 million tonnes, grading 2.26 grams per tonne).