turquoise-ridge

The Turquoise Ridge property is located in the Potosi Mining District, about 70 kilometers northeast of Winnemucca, Nevada. Barrick is the operator and 75% owner of the mine with Newmont owning the remaining 25%.

Turquoise Ridge uses underhand cut-and-fill mining methods and ore is transported to Newmont’s Twin Creeks mill for processing. The refractory gold ore is treated by pressure oxidation technology and gold is recovered using conventional carbon-in-leach technology.

Barrick’s share of gold production in 2015 was 217,000 ounces of gold, at a cost of sales of $141 million, and all-in sustaining costs of $742 per ounce.1 The mine is expected to produce 255,000-275,000 ounces of gold in 2016 (Barrick's share), at a cost of sales of $600-$650 per ounce, and all-in sustaining costs of $650-$700 per ounce.1

Barrick's share of proven and probable mineral reserves as of December 31, 2015, was 4.2 million ounces2 of gold (8.6 million tonnes, grading 15.3 grams per tonne).

Map

Performance

217,000 Ounces of gold produced in 2015 (Barrick's share) 4,214,000 Ounces of proven and probable gold reserves (Barrick's share)
Date Download Description
January 1, 2013 files/design/bodybg/turquoise-ridge.jpg
Operations > North America > Turquoise Ridge

Footnotes

  1. "Cash costs" per ounce and "All-in sustaining costs" per ounce are non-GAAP financial performance measures. "Cash costs" per ounce is based on cost of sales but excludes, among other items, the impact of depreciation. "All-in sustaining costs" per ounce begins with "Cash costs" per ounce 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 "cash costs" per ounce and "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. "Cash costs" per ounce and "All-in sustaining costs" per ounce are intended to provide additional information only and do 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. These measures should not be considered in isolation or as a substitute for measures 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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Gold  $ 1,203.06 +5.66 +0.47% Volume: January 16, 2017

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