kalgoorlie

The Kalgoorlie operation consists primarily of the Super Pit open-pit mine, located along the Golden Mile ore bodies which were previously mined from underground. The mine is located adjacent to the town of Kalgoorlie approximately 550 kilometers east of Perth, Western Australia. Barrick holds a 50% interest with Newmont Mining Corporation holding the remaining 50% interest.

Kalgoorlie is an open-pit, truck-and-loader operation. Barrick's share of gold production in 2016 was 376,000 ounces, at a cost of sales of $762 per ounce, and all-in sustaining costs of $706 per ounce.1 Barrick's share of proven and probable mineral reserves as of December 31, 2016, was 4.1 million ounces of gold2 (100 million tonnes, grading 1.29 grams per tonne).

Barrick's share of gold production in 2017 is expected to be 360,000-400,000 ounces, at a cost of sales of $750-$790 per ounce, and all-in sustaining costs of $680-$720 per ounce.1

Performance

376,000 Ounces of gold produced in 2016 (Barrick's share) 4,140,000 Ounces of proven and probable gold reserves (Barrick's share)
Date Download Description
January 1, 2013 files/design/bodybg/kalgoorlie.jpg
Operations > Australia Pacific > Kalgoorlie

Footnotes

Newmont Mining Corporation ("Newmont") is the operator of the Kalgoorlie joint venture. Accordingly, all information related to Kalgoorlie on this website, or in any documents accessible from this website, is based on data provided by Newmont.

  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  $ 1,268.90 +3.55 +0.28% Volume: April 28, 2017
ABX NYSE  $ 16.72 +0.01 +0.06% Volume: 16,585,909 April 28, 2017
ABX TSX  $ 22.82 +0.10 +0.44% Volume: 3,683,889 April 28, 2017
Gold  $ 1,268.90 +3.55 +0.28% Volume: April 28, 2017

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