Kibali unlocking value in the North East of the DRC - Operated by
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Operated by Kibali…unlocking value in the North East of the DRC
Cautionary Statement on Forward-Looking Information… Certain information contained in this presentation, including any information as to Barrick’s strategy, plans, or future financial or operating performance, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “progress”, “plan”, “potential”, “ongoing”, “guidance”, “forecast”, “upside”, “prospective”, “opportunities”, “conceptual”, “continue”, “committed”, “outstanding”, “working towards”, “future”, “developing” and “will” and similar expressions identify forward-looking statements. In particular, this presentation contains forward-looking statements including, without limitation, with respect to: our plans and goals for 2021, including the various projects we intend to advance, forward-looking production guidance, future investments in community projects, automation initiatives, permitting strategy, sustainability and license to operate initiatives, potential mineralization additions to reserves and exploration success and unresolved issues between the Kibali mine and the DRC government, including with respect to outstanding tax matters, maintenance of infrastructure and the new Mining Code established in 2018. Forward-looking statements are necessarily based upon a number of estimates and assumptions; including material estimates and assumptions related to the factors set forth below that, while considered reasonable by Barrick as at the date of this presentation in light of management’s experience and perception of current conditions and expected developments, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: changes in national and local government legislation, taxation, controls, or regulations and/or changes in the administration of laws, policies, and practices, expropriation or nationalization of property and political or economic developments in DRC; lack of certainty with respect to foreign legal systems, corruption, and other factors that are inconsistent with the rule of law; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; infectious diseases presenting major health care issues including the effects and potential effects of the global Covid-19 pandemic; fluctuations in the spot and forward price of gold, copper, or certain other commodities (such as silver, diesel fuel, natural gas, and electricity); timing of receipt of, or failure to comply with, necessary permits and approvals; failure to comply with environmental and health and safety laws and regulations; litigation; damage to the Barrick’s reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Barrick’s handling of environmental matters or dealings with community groups, whether true or not; the speculative nature of mineral exploration and development; changes in mineral production performance, exploitation, and exploration successes; diminishing quantities or grades of reserves; increased costs, delays, suspensions, and technical challenges associated with the construction of capital projects; operating or technical difficulties in connection with mining or development activities, including geotechnical challenges, and disruptions in the maintenance or provision of required infrastructure and information technology systems; the impact of global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future cash flows; the impact of inflation; fluctuations in the currency markets; contests over title to properties, particularly title to undeveloped properties, or over access to water, power, and other required infrastructure; employee relations including loss of key employees; increased costs and physical risks, including extreme weather events and resource shortages, related to climate change; and availability and increased costs associated with mining inputs and labor. Barrick also cautions that its guidance may be impacted by the unprecedented business and social disruption caused by the spread of Covid-19. In addition, there are risks and hazards associated with the business of mineral exploration, development, and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding, and gold bullion, copper cathode, or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks). Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this presentation are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements, and the risks that may affect Barrick’s ability to achieve the expectations set forth in the forward-looking statements contained in this presentation. Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
Barrick… setting a new frontier in the
North-East of the DRC
DRC portfolio
Kibali Gold Mine (45%) N
Kilo JV : exploration on the Ngayu belt N
Kilo JV
Kibali
Loulo-Gounkoto (80%)
Jabal Sayid (50%)
Mombasa
1800 km
Dar es
Massawai Kibali (45%)
Salaam
1950 km
Tongon (89.7%) North Mara (84%)
Bulyanhulu (84%)
Buzwagi (84%)
Lumwana (100%)
500km
Gold production
Projects
Copper production
i In Q1 2020, Barrick sold its stake in Massawa to Teranga Gold (“Teranga”) and retained an 11% equity interest in Teranga. In February 2021, Endeavour Mining and Teranga merged.
Kibali … what we found and what we’ve established
Kibali … what we found and what we’ve established
Kibali … what we found and what we’ve established
Durba today…
Kibali…our history
2015 2016 Q4 2016 Q2 2018 Q1 2019 Q2 2020 Q4 2020
Full year UG ramp up + First power from First power from Randgold – Commissioned grid Achieves record
production at throughput ramp up to Ambarau Azambi Barrick stabilizer battery quarterly and annual
design specs full sulphide circuit hydrostation hydrostation merger bank UG ore production
2014 Sep 2016 March 2018 Dec 2020
Nzoro 2 Commissioning and Start of national dialogue – New Mining President Tshisekedi
hydropower station ramp up of met facility - President Kabila Code ends coalition with
completed associated Kabila
infrastructure Nov 2011
completed 2nd Democratic
Sep 2013 Elections
First gold and Jul 2010
completion of MOU signed with
May 2012 Oct 2011 Aug 2011 Feb 2011 Nov 2010 Catholic church
RAP
JV approves Preconstruction Revised Established Aru-Doko road
feasibility and started feasibility Kokiza village upgrade completed Mar 2010
vote capital for resettlement Formal notice to illegal
miners and alternate work
programme started
Jan 2001 – Joseph Kabila is President 2010
Feasibility updated
2002 – New mining code 2006 Sep 2009 Dec 2009 and reserves
On-site due Acquired JV acquired a doubled to over
Apr 2003 – Constitution for transition
diligence Moto Goldmines (70% Kibali) further 20% in 10Moz
Oct 2006 – 1st President elected in second round by Randgold JV with AGA in public Kibali from
international auction SOKIMO
Jan 2019 – Felix Tshisekedi is President
Kibali…Safety, Health and Environment
ISO 45001 accredited
ISO 14001 accredited
Malaria incidence significantly brought down
HIV programs in place
Strong biodiversity program in place
LTIFRi per million Malaria Incidence HIV Positivity Rate Water use efficiency
hours worked Rate (%) (%) 2013 - 2019
7 120 18
16 1.2
6 100
14 1
5
80 12
4 0.8
10
60 0.6
3 8
2 40 6 0.4
4
1 20 0.2
2
0 0 0 0
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
i Loss time injury frequency rate (LTIFR) is a ratio calculated as follows: number of loss time injuries x 1,000,000 hours divided by the total number of hours worked.
Kibali … operational update
Kibali achieved the top-end of production guidance by delivering
808,134 ouncesi in 2020
Consistent performance from UG mining despite personnel movement
interruptions from Covid-19 travel restrictions
Process plant stability ensured another year of above planned
recoveries
Commissioned a battery energy storage system to offset cyclical load
on the grid and reduce the reliance on diesel powered generators
Maintained a 10-year mine life through ongoing exploration and
conversion drilling
Proven commitment to uplift the surrounding community. Completed
first section of the Durba/Watsa concrete road
Engagement with DRC government at all spheres of the administration
i On a 100% basisKibali Underground…
750 meters deep UG ore tonnes Q4 2020i
Operated on an owner mining basis 400 Ore tonnes hoisted - shaft
Ore tonnes mined - decline
National workforce trained to the next level of technology
Tonnes (000s)
300
NEWTRAX – An electronic tag board system that tracks the position of underground
workers that can also inform the surface control room of impending emergencies
200
NEWTRAX – Allows for on demand ventilation, secondary fans are stopped and started
as personnel enter and leave areas to save on power costs
100
Multiple production zone and a multiple machine operation
-
DRC MoM visits Kibali UG Oct-20 Nov-20 Dec-20
Development metres Q4 2020i
Oct-20
Nov-20
Dec-20
0 500 1,000
Refer to the Technical Report on the Kibali Gold Mine, Democratic Republic of the Congo dated September 18, 2018 with an effective date of December 31, 2017, and filed on SEDAR at www.sedar.com and EDGAR at www.sec.gov on January 2, 2019
i On a 100% basisKibali…gold production
Kibali Gold Production (100%) (Koz)
900
800
700
600
KOunces
500
400
300
200
100
0
2013 2014 2015 2016 2017 2018 2019 2020Kibali Employees …
Expat
Contractors
Expat 97 (2%) National Casuals
Employees 162 (3%)
227 (4%)
National
Employees National
1,575 (31%) Contractors
3,006 (59%)
Nationals : 4,743 (94%)
Expatriates: 324 (6%)In country investment…
2010 to 2020
$3.4 billion paid by Kibali in the form of taxes, permits, Nzoro Powerline Road
infrastructure, salaries and payments to local suppliers ARU - Ariwara Road
US$ million Northern By-pass road
Visible contributions directly Southern By-pass road
in the area of the project: Direct Community Project
$183.7 million Doko - ARU road
Kokiza (Houses only)
Non-visible contributions:
SALARIES Aggregates
$3,211 billion $446 million
Prevention (HIV & Malaria)
TAXES and
$725 million PERMITS
$2.04 billion PAYMENTS TO
SUPPLIERSCommitted to our partnership philosophy…
local and international spendi
Specialist contracts Construction General services Total contract
Shaft sinking contract and supply chain spend
Underground mining contract
Master drilling
$ million $ million $ million $ million
3,000 300 1,000 4,000
900 3,500
2,500 250 800
3,000
700
2,000 200
600 2,500
1,500 150 500 2,000
400
1,500
1,000 100
300
1,000
200
50
500 500
100
0 0 0
0
Local International Local International Local International Local International
i Cumulative SpendKibali makes a difference… our CSR
Infrastructure development and maintenance
Durba concrete project: first section (1.2 km) completed and handed over to the
government
Local Economic Development Projects
Various income generating schemes in place with communities
Education
Over 60 schools built in the area
Several training and capacity building programmes in place
Health
Several clinics and health posts Construction of the concrete road in Durba
Water drilling and boreholes in villages surrounding the mine as well as along the Doko
Aru road (180Km)
Capacity building
Doko Youth Training centre recently renovated
Various cultural and sporting activities sponsored
Stakeholder engagement
Meetings and site visits held, and radio programs hosted for engagement with Doko training centre
communitiesAgribusiness…local supply to Kibali
Agribusiness
Piggery projects
Poultry projects
Fish ponds
Gardening for capacity building
Coffee and cocoa projects
Piggery Renzi gardensBarrick…People, Partnerships and Sustainable
Profitability
CEO with exploration team
Barrick’s 10 year vision
built on 5 year foundation
Automation - Newtrax Efficiencies
reducing carbon footprint
water
Licence to operate
our partnerships
sustainability
Hydropower Covid-19 isolation centreYou can also read
