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Africa & Middle East

AFRICA & MIDDLE EAST

Africa is the world's largest gold producer with 22% of global production. Barrick is Africa's largest gold miner and its assets on the continent continue to be a significant contributor to the company's free cash flow. The Loulo-Gounkoto complex in Mali and Kibali in the Democratic Republic of Congo are both Tier One assets, and ongoing exploration work at Tongon in Côte d’Ivoire is aimed at extending that mine's life. North Mara, Bulyanhulu and Buzwagi in Tanzania are the latest additions to Barrick’s African endowment and these assets are being swiftly brought back into full production under a benefit-sharing agreement with the Tanzanian government.

2019 AFRICA AND MIDDLE EAST PRODUCTION1: 1.5Moz

2019 Africa and Middle East Production

1 Attributable gold production excludes the impact of Morila, which was placed in care and maintenance during the year.
2 Tier One mine.
3 Production is presented on a 100% basis.
4 In Q1 2020, Barrick sold its stake in Massawa to Teranga Gold Corporation and retained an 11% equity interest in Teranga.
5 The expected effective date of our 84% ownership interest is January 1, 2020.

We succeeded in returning Lumwana to profitability and integrating the former Acacia’s Tanzanian assets into our portfolio, beating our guidance and providing strong cash flows from both gold and copper production.
Willem Jacobs
COO Africa and Middle East

5-YEAR GOLD PRODUCTION FORECASTviii

5-Year Gold Production Forecast

iii, v, viii, x Please see endnotes (PDF)
1 Gold capital expenditure includes project and sustaining capital expenditure across the Africa and Middle East region but does not include capital expenditure related to Lumwana or Jabal Sayid.

Barrick is closely monitoring the global Covid-19 pandemic and Barrick’s guidance may be impacted if the operation or development of our mines and projects is disrupted due to efforts to slow the spread of the virus.

ATTRIBUTABLE MINERAL RESOURCES AND RESERVES2,ix

Attributable Mineral Resources and Reserves

2 Mineral resources are inclusive of mineral reserves.

ATTRIBUTABLE PRODUCTION3

Attributable Production

COST OF SALES, TOTAL CASH COSTS AND AISC3

Cost of Sales, Total Cash Costs and AISC

3 Excludes the impact of Morila, which was placed on care and maintenance during 2019.
iii, v, viii, x Please see endnotes (PDF)