north mara - acacia/media/files/.../north-marapres-sitevisit-09...who are we… barrick acquired...
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Disclaimer
Important Notice
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in any jurisdiction. The information or opinions contained in this presentation shall not form the basis of, or be relied on in connection with, or act as any inducement to enter
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The information and opinions contained in this presentation are provided as of the date of this presentation and are subject to change without notice. ABG explicitly disclaims
any responsibility, obligation or undertaking to update or revise any information contained in this presentation after its date, whether as a result of new information, future
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statements include, without limitation, financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with
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forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of ABG, that
could cause actual results and developments to differ materially from those expressed in, or implied or projected by, forward-looking information and statements contained in
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to recover its reserves or develop new reserves, including its ability to convert its resources into reserves and its mineral potential into resources or reserves and to timely and
successfully process its mineral reserves, changes in its business strategy, as well as risks and hazards associated with the business of mineral exploration, development,
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Who Are We…
Barrick acquired North Mara in February 2006 as part of the Placer Dome acquisition.
North Mara Mine includes three open pit deposits -
– Gokona
– Nyabigena and
– Nyabirama
Significant underground potential
Mining Operations at 22Mt/y includes conventional hard rock open pit mining using Terrex drills, RH 120/170 hydraulic shovels and CAT 785 mechanical drive haul trucks.
Ore Processing at 2.8Mt/y includes crushers, an open circuit SAG mill and closed circuit ball mill. Carbon in leach (CIL) and gravity technology extract the gold, followed by electrowinning. Gold is refined to doré on site.
North Mara is commissioned into the national power grid
Environment:Management
Environmental Management System (EMS)
– ISO14000 compatible
Monitoring
• Air
• Water
• Land
• Bio-diversity
Legal Register
– Permits, Licenses, Agreements, Activity Based
Audits/ Inspections / Incidents
– Internal – Barrick Corporate once a year.
– External – NEMC and other government agencies
Submit quarterly and annual reports to the government.
Environment
Compliance -
– Externally imposed: Permits, legislation, EIS, SOX & EIA’s,
Community & other WWF, LVBO, NEMC, Government
– Voluntarily imposed: Cyanide code, ICMM, ISO14000, NYSE
– Self-imposed: GHG (Greenhouse gases e.g carbon footprint, AQA),
H2O Conservation (plant), SOX, Closure
Reserve & Resource
* Resource excludes Reserves
Category 31st December 2007
31st December 2008
31st December 2009
Proven 2,189,000 1,760,000 1,198,603
Probable 1,305,000 1,207,000 1,472,255
Stockpiles 100,000 126,000 278,320
Total Reserve 3,594,000 3,093,000 2,949,178
Measured 402,000 498,000 218,641
Indicated 399,000 628,000 642,335
Inferred 98,000 43,000 119,057
Total Resource 899,000 1,169,000 980,033
Performance – YTD June 2010
North Mara Three month ended Six months ended
30 June 30 June
2010 2009 2010 2009
Tons mined Kt 5,133 4,022 9,644 7,916
Ore mined Kt 764 1,559 1,447 2,738
Ore milled Kt 691 651 1,338 1,328
Head grade g/t 2.8 3.0 3.0 3.1
Mill recovery % 84.5 80.6 82.2 80.1
Ounces produced Koz 52 51 106 105
Ounces sold Koz 54 52 108 105
Cash cost/oz sold $/oz 513 390 479 459
Cash cost/ton milled $/t 40 31 39 36
Capital expenditure $(000) 20,552 4,339 36,682 13,272
Gold Production
0
50,000
100,000
150,000
200,000
250,000
Ou
nc
es
2007 2008 2009 H1
2010
Year
Gold Production
Au Recovered
H1 2010 Highlights
Retained/strengthened NMSLT
Engaging the community
Engaging the government
Delivered on Commitments
• Consistent delivery
• Met/exceed budget for 11 months now
Seeking Additional Ounces
• Underground potential
• In-pit resources
Near Mine Exploration - 2011
June 2010 Pit
Stage 3 Pit
Gokona Orebody Rama Orebody
June 2010 Pit
Stage 4 Pit
Gokona
Underground
(Feasibility)
Rama
Underground
(Conceptual)
Potential Additional Mineable Ounces
GENA EAST
New Potential Reserve
Ounce
EXTENSIONAL DRILLING
35m
150m
2011 Satellite Pit Potential
Drilling in 2010 to deepen pit & access more ounces.
Potential c. 50,000 oz
Drilling for Additional EOY 2010 Gena East + Far East
Potential c. 50,000oz
Focus Areas - FYR 2010
• Stakeholder Relationship Management
• Water Management
•Governance/Audits
•Land Acquisition
•Operational Excellence
•Employee Mobilization
•Capital Management
•Grow Resource Base
Short – Mid-Term Priorities
Top Initiatives Planned - FYR 2010 Top Initiatives Planned - FYR 2014 (Medium Term)
Govt/Community Relations
Advance the Engagement Process – (Govt and Communities)
Close-out historic agreements
Aquire LOM land
Renew - EMP and SML and Permits
Enhance relationships through mutual trust and accountability
Partner Community/District/Region in development plans
Mining and Geology
R C grade control - (MCF 99%)
VAB - (fragmentation optimization)
Optimize Plant Head-Grade - (RC/Stock-pile mgt)
New Explosive Plant
Gokona II and Rama Stage III cut-backs
Discharge of Gokona/Gena/Rama water
Seek additional resources – (within operating pits and beyond)
Execute LOM pit cut-backs
Determine/Accelerate underground potential
People Employee Mobilization - (Competence, Performance and Reward)
Site facilities and employee transportation People Development - (technical & leadership skills)
Gold Plant Optimization
Plant Up-grade - (when complete up to 4% additional recovery and improved throughput)
Complete TSF Lift - (1260m)
WTF - (Water treatment facility)
Cyanide de-toxification
Complete Plant up-grades
Optimize gold production - (plant performance)
Execute LOM TSF Lifts - (1280m)
Mine Equipment Performance
Complete Gokona Work-shops
Implement Jig-saw - (HME monitoring system)
Implement In-thinc - (Vehicle monitoring system)
Optimize performance - (people and equipment)
Cost Management
Achieve planned $/t and $/oz
Capital Management
Contractor Management
Centralized Procurement
MARC/Owner - (trade-off study)
Stabilized power supply
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