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Turquoise Ridge

The Turquoise Ridge underground mine is located about 44 miles north-east of Winnemucca, Nevada. Barrick is the operator and 75% owner of the mine. Newmont Mining owns the remaining 25%. At 15.56 grams per tonne, Turquoise Ridge has the highest reserve grade in the Company’s operating portfolio, and among the highest in the gold industry.

2018 Outlook

Production
240,000 - 270,000
Ounces ? Barrick's 75% share
Cost of sales
per ounce ? Cost of sales applicable to gold per ounce is calculated using cost of sales applicable to gold on an attributable basis (removing the non-controlling interest of 40% Pueblo Viejo and 36.1% Acacia from cost of sales), divided by attributable gold ounces.
$750-$800
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 23 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.
$700-$780

2017 Performance

Operations 
Gold produced
in 2017
211,000
Ounces ? Barrick's 75% share
Cost of sales
per ounce ? Cost of sales applicable to gold per ounce is calculated using cost of sales applicable to gold on an attributable basis (removing the non-controlling interest of 40% Pueblo Viejo and 36.1% Acacia from cost of sales), divided by attributable gold ounces.
$715
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 23 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.
$733
Sustainability 
Safety ? Total Reportable Injury Frequency Rate
1.51
Local, Regional and National Employment
99%
Local, Regional and National Purchases
$210
Million

Reserves and Resources

Proven and probable
gold reserves ? Estimated in accordance with National Instrument 43-101 as required by Canadian securities regulatory authorities. Estimates are as of December 31, 2017, unless otherwise noted. Barrick’s 75% share. Proven reserves of 7.082 million tonnes, grading 15.56 grams per tonne, representing 3.544 million ounces of gold. Probable reserves of 4.689 million tonnes, grading 15.48 grams per tonne, representing 2.334 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 on pages 29-39 of Barrick’s Annual Information Form for the year ended December 31, 2017.
5.9
Million Ounces
Measured and Indicated
gold resources ? Estimated in accordance with National Instrument 43-101 as required by Canadian securities regulatory authorities. Estimates are as of December 31, 2017, unless otherwise noted. Barrick’s 75% share. Measured resources of 2.9 million tonnes, grading 9.03 grams per tonne, representing 855,000 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 on pages 29-39 of Barrick’s Annual Information Form for the year ended December 31, 2017.
1.5
Million Ounces
Inferred
gold resources ? Estimated in accordance with National Instrument 43-101 as required by Canadian securities regulatory authorities. Estimates are as of December 31, 2017, unless otherwise noted. Barrick’s 75% share. Indicated resources of 2.16 million tonnes, grading 9.37 grams per tonne, representing 651,000 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 on pages 29-39 of Barrick’s Annual Information Form for the year ended December 31, 2017.
711,000
Ounces