zaldivar

Zaldívar is a 50/50 joint venture operation with Antofagasta Plc, overseen by a joint Board of Directors with three Barrick nominees and three Antofagasta nominees. Antofagasta is the operator of the mine.

The mine is located in the Andean Precordillera in Region II of northern Chile, approximately 1,400 kilometers north of Santiago and 175 kilometers southeast of the port city of Antofagasta. An open-pit, heap-leach copper mine, it lies at an average elevation of 3,000 meters. Pure cathode copper is produced by three stages of crushing and stacking, followed by heap leaching and bacterial activity to remove the copper from the ore. Run-of-mine dump leach material is placed on the old sulphide ore pad and leached.

Zaldívar produced 218 million pounds1 of copper in 2015, at a cost of sales of $424 million, and all-in sustaining costs of $2.11 per pound.2 Barrick's share of proven and probable reserves as of December 31, 2015, was 2.8 billion pounds3 of copper (227.7 million tonnes, grading 0.55%).

In 2016, Barrick's share of copper production is expected to be 100-120 million pounds, at a cost of sales of $1.95-$2.15 per pound, and all-in sustaining costs of $2.10-$2.30 per pound.2

Performance

218,000,000 Pounds of copper produced in 2015 (Barrick's share) 2,757,000,000 Pounds of proven and probable copper reserves (Barrick's share)
Date Download Description
January 1, 2013 files/design/bodybg/zaldivar.jpg
Operations > Cooper > Zaldívar

Footnotes

On December 1, 2015, Barrick completed the sale of 50% of the Zaldívar mine to Antofagasta Plc ("Antofagasta"). Antofagasta is the operator of the joint venture. Accordingly, all information related to Zaldívar on this website, or in any documents accessible from this website, from December 1, 2015 onwards is based on data provided by Antofagasta.

  1. 2015 figures are stated at 100% basis until November 30, 2015 and at 50% basis thereafter.

  2. "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.

  3. 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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