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Barrick Nevada

Barrick Nevada is an integrated gold mining operation that combines the Cortez and Goldstrike properties in Nevada, employing a total of 3,000 employees and 800 contractors.

Operations at Cortez are split between two complexes: the Pipeline complex is mined via open pit; and Cortez Hills is mined via open pit and underground. Goldstrike consists of the Betze-Post open pit, and the Meikle and Rodeo underground mines.

2019 Outlook

Production
1.75 - 1.90
Million Ounces ? Reflects production and sales from Goldstrike, Cortez, and South Arturo on a 60% basis, which reflects our equity share.
Cost of sales
per ounce ? Cost of sales applicable to gold per ounce is calculated using cost of sales related to gold on an attributable basis (removing the non-controlling interest of 40% Pueblo Viejo, 36.1% Acacia and 40% South Arturo from cost of sales), divided by attributable gold ounces sold.
$920 - $970
All-in sustaining
costs per ounce ? “Cash costs” per ounce and “All-in sustaining costs” per ounce are non-GAAP financial performance measures. “Cash costs” per ounce starts with cost of sales applicable to gold production, but excludes the impact of depreciation, the non-controlling interest of cost of sales, and includes by-product credits. “All-in sustaining costs” per ounce begin with “Cash costs” per ounce and add further costs which reflect the additional costs of operating a mine, primarily sustaining capital expenditures, general & administrative costs, minesite exploration and evaluation costs, and reclamation cost accretion and amortization. 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 26 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.
$850 - $900

2018 Performance

Operations 
Gold produced
in 2018
2.1
Million Ounces
Cost of sales
per ounce ? Cost of sales applicable to gold per ounce is calculated using cost of sales related to gold on an attributable basis (removing the non-controlling interest of 40% Pueblo Viejo, 36.1% Acacia and 40% South Arturo from cost of sales), divided by attributable gold ounces sold.
$818
All-in sustaining
costs per ounce ? “Cash costs” per ounce and “All-in sustaining costs” per ounce are non-GAAP financial performance measures. “Cash costs” per ounce starts with cost of sales applicable to gold production, but excludes the impact of depreciation, the non-controlling interest of cost of sales, and includes by-product credits. “All-in sustaining costs” per ounce begin with “Cash costs” per ounce and add further costs which reflect the additional costs of operating a mine, primarily sustaining capital expenditures, general & administrative costs, minesite exploration and evaluation costs, and reclamation cost accretion and amortization. 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 26 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.
$649

Reserves and Resources

Proven and Probable Gold Reserves (Cortez) ? Estimated in accordance with National Instrument 43-101 as required by Canadian securities regulatory authorities. Estimates are as of December 31, 2018, unless otherwise noted. Proven reserves of 17.6 million tonnes, grading 2.01 g/t, representing 1.1 million ounces of gold. Probable reserves of 127 million tonnes, grading 1.86 g/t, representing 7.6 million ounces of gold. Complete mineral reserve and mineral resource data for all mines and projects referenced on this website, including tonnes, grades, and ounces, can be found in Barrick’s Fourth Quarter and Year-End 2018 Report.
8.7
Million Ounces
Proven and Probable Gold Reserves (Goldstrike) ? Estimated in accordance with National Instrument 43-101 as required by Canadian securities regulatory authorities. Estimates are as of December 31, 2018, unless otherwise noted. Proven reserves of 55.5 million tonnes, grading 3.65 g/t, representing 6.5 million ounces of gold. Probable reserves of 12.4 million tonnes, grading 5.05 g/t, representing 2.0 million ounces of gold. Complete mineral reserve and mineral resource data for all mines and projects referenced on this website, including tonnes, grades, and ounces, can be found in Barrick’s Fourth Quarter and Year-End 2018 Report.
8.5
Million Ounces
Measured and Indicated Gold Resources (Cortez) ? Estimated in accordance with National Instrument 43-101 as required by Canadian securities regulatory authorities. Estimates are as of December 31, 2018, unless otherwise noted. Measured resources of 3.4 million tonnes, grading 1.84 grams per tonne, representing 198,000 ounces of gold. Indicated resources of 53.4 million tonnes, grading 1.73 g/t, representing 2.9 million ounces of gold. Complete mineral reserve and mineral resource data for all mines and projects referenced on this website, including tonnes, grades, and ounces, can be found in Barrick’s Fourth Quarter and Year-End 2018 Report.
3.2
Million Ounces
Measured and Indicated Gold Resources (Goldstrike) ? Estimated in accordance with National Instrument 43-101 as required by Canadian securities regulatory authorities. Estimates are as of December 31, 2018, unless otherwise noted. Measured resources of 3.6 million tonnes, grading 6.75 grams per tonne, representing 775,000 ounces of gold. Indicated resources of 4.6 million tonnes, grading 5.80 g/t, representing 857,000 ounces of gold. Complete mineral reserve and mineral resource data for all mines and projects referenced on this website, including tonnes, grades, and ounces, can be found in Barrick’s Fourth Quarter and Year-End 2018 Report.
1.6
Million Ounces
Inferred Gold Resources (Cortez) ? Estimated in accordance with National Instrument 43-101 as required by Canadian securities regulatory authorities. Estimates are as of December 31, 2018, unless otherwise noted. Inferred resources of 13.2 million tonnes, grading 1.67 grams per tonne, representing 705,000 ounces of gold. Complete mineral reserve and mineral resource data for all mines and projects referenced on this website, including tonnes, grades, and ounces, can be found in Barrick’s Fourth Quarter and Year-End 2018 Report.
705,000
Ounces
Inferred Gold Resources (Goldstrike) ? Estimated in accordance with National Instrument 43-101 as required by Canadian securities regulatory authorities. Estimates are as of December 31, 2018, unless otherwise noted. Inferred resources of 1.8 million tonnes, grading 8.11 grams per tonne, representing 474,000 ounces of gold. Complete mineral reserve and mineral resource data for all mines and projects referenced on this website, including tonnes, grades, and ounces, can be found in Barrick’s Fourth Quarter and Year-End 2018 Report.
474,000
Ounces