jabal-sayid

The Jabal Sayid project, a 50-50 joint venture with Saudi Arabian Mining Company (Ma'aden), commenced commercial production on July 1, 2016.

Barrick's share of 2016 copper production from Jabal Sayid is expected to be 10-20 million pounds, at a cost of sales of $2.10-$2.90 per pound, and all-in sustaining costs of $2.80-$3.10 per pound.1 The mine is expected to ramp up to a production rate of about 100 million pounds per year in the second half of 2017, as additional underground development is completed.

As of December 31, 2015, Barrick’s share of reserves at Jabal Sayid was 698 million pounds of copper2 (12.5 million tonnes, grading 2.53%).

Map

Performance

12,000,000 Pounds of copper produced in 2015 (100% basis) 698,100,000 Pounds of proven and probable copper reserves (Barrick's share)
Date Download Description
January 1, 2013 files/design/bodybg/jabal-sayid.jpg
Operations > Cooper > Jabal Sayid

Footnotes

On December 3, 2014, Barrick completed the sale of 50% of the Jabal Sayid mine to Saudi Arabian Mining Company (Ma’aden). The Jabal Sayid joint venture is operated by Ma’aden Barrick Copper Company ("MBCC"), the joint venture entity, on behalf of Barrick and Ma’aden. Accordingly, all information related to Jabal Sayid on this website, or in any documents accessible from this website, from December 3, 2014 onwards is based on data provided by MBCC, the joint venture entity.

  1. "C1 cash costs" per pound and "All-in sustaining costs" per pound are non-GAAP financial performance measures. "C1 cash costs" per pound is based on cost of sales but excludes the impact of depreciation and royalties and includes treatment and refinement charges. "All-in sustaining costs" per pound begins with "C1 cash costs" per pound and adds further costs which reflect the additional costs of operating a mine, primarily sustaining capital expenditures, general & administrative costs and royalties. Barrick believes that the use of "C1 cash costs" per pound and "all-in sustaining costs" per pound will assist investors, analysts, and other stakeholders in understanding the costs associated with producing copper, understanding the economics of copper 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. "C1 cash costs" per pound and "All-in sustaining costs" per pound are intended to provide additional information only, do not have any standardized meaning under IFRS, and may not be comparable to similar measures of performance presented by other companies. These measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Further details on these non-GAAP measures 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. Calculated in accordance with National Instrument 43-101 as required by Canadian securities regulatory authorities. Estimates are as of December 31, 2015, 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 25-35 of Barrick’s 2015 Form 40-F/Annual Information Form.
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