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 2016 was 266,000 ounces of gold, at a cost of sales of $603 per ounce, and all-in sustaining costs of $625 per ounce.1 The mine is expected to produce 260,000-280,000 ounces of gold in 2017 (Barrick's share), at a cost of sales of $550-$600 per ounce, and all-in sustaining costs of $630-$710 per ounce.1

Barrick's share of proven and probable mineral reserves as of December 31, 2016, was four million ounces2 of gold (8.3 million tonnes, grading 15.11 grams per tonne).

Operations and Technical Update
February 22, 2017 (PDF)

Map

Performance

266,000 Ounces of gold produced in 2016 (Barrick's share) 4,029,000 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. “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  $ 1,266.93 -2.87 -0.23% Volume: April 27, 2017
ABX NYSE  $ 16.96 +0.00 +0% Volume: 23,683,300 April 26, 2017
ABX TSX  $ 23.05 +0.00 +0% Volume: 4,645,800 April 26, 2017
Gold  $ 1,266.93 -2.87 -0.23% Volume: April 27, 2017

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