The largest gold mines in the world
Barrick Gold Corporation in 2015 premier assets production barrick gold
mine is 6.1 - 6.4 million ounces, at all-in sustaining costs of $840 -
$880 per ounce, from a portfolio that includes some of the world’s
premier gold assets. All - in sustaining costs per ounce $600 - $640
Cash costs per ounce. Barrick Mine for Copper production in 2015 is
expected to be 480 - 520 million pounds of copper at cash costs of $1.75
- $2.00 per pound, cash costs per pound $2.35 - $2.65 fully allocated
costs per pound
Premier assets production barrick gold mine five cornerstone mines
— Cortez and Goldstrike in Nevada, Pueblo Viejo in the Dominican
Republic, Lagunas Norte in Peru and Veladero in Argentina — are forecast
to contribute 60% of overall in 2015 production at all and in
sustaining costs of $725 - $775 per ounce. At two grams per tonne, these
mines have an average reserve grade more than double that of peer group
average. They are among the most attractive assets in the entire gold
industry, generating strong free cash flow even in today’s gold price
environment, while offering exceptional leverage to higher gold prices.
Barrick has been successful at consistently finding and replacing
reserves and resources through exploration and selective acquisitions.
Even during the years of lower gold prices, when most of the industry
retrenched, Barrick maintained its commitment to exploration and
discovered Lagunas Norte in Peru, one of the few major discoveries of
the 1990s. The company's most recent major discovery is Goldrush,
located near the Cortez mine in Nevada — the only 10-million-plus ounce
green-field discovery by a major gold producer in the past five years.
The 2015 exploration budget of $180 - $220 million1 is allocated to mine
site exploration and greenfield projects — primarily on our newest
discovery, Alturas, and the El Indio belt.
This is operations gold production from Barrick gold mining :
Exploration Gold Mine In United States
1. Bald Mountain Mine ( Nevada )
The Bald Mountain mine lies within the Southern Ruby Mountains of
northeastern Nevada, approximately 110 kilometers northwest of Ely,
Nevada and 110 kilometers southeast of Elko, Nevada. Bald Mountain is an
open-pit, run-of-mine, heap leach gold mine with conventional heap
leaching technology and carbon absorption for ore treatment.
Bald Mountain produced 161,000 ounces of gold in 2014 at all-in
sustaining costs of $1,070 per ounce.
Proven and probable mineral reserves as at December 31, 2014, were 1.36
million ounces of gold
2. Cortez mine ( Nevada )
The Cortez mine is located 100 kilometers southwest of Elko,
Nevada in Lander County. The Cortez Pipeline property is 11 kilometers
northwest and the Cortez Pediment property (which includes the Cortez
Hills deposit) is four kilometers southeast of the original Cortez
milling complex. The Pipeline and South Pipeline deposits are mined by
conventional open-pit methods. The Cortez property covers approximately
2,800 square kilometers on one of the world’s most highly prospective
mineral trends.
Cortez employs three different metallurgical processes to recover gold.
Lower-grade oxide ore is heap leached, while higher-grade non-refractory
ore is treated in a conventional mill using cyanidation and a
carbon-in-leach (“CIL”) process. Heap leached ore is hauled directly to
leach pads for gold recovery. Carbonaceous mill ore is mined
intermittently during the mining of the Pipeline/South Pipeline
deposits.
A prefeasibility study for underground mining at Cortez below currently
permitted levels will be completed in late 2015. Mineralization in this
zone is primarily oxide and higher grade compared to the current
underground mine, which is sulfide in nature. The limits of the Lower
Zone have not yet been defined, and drilling has indicated the potential
for new targets at depth. The exploration drift has been extended to
the south, enabling additional step-out drilling, which is anticipated
to begin in June. Drill results to date include 36.6 meters at 31.5
grams per tonne and 27.4 meters at 20.9 grams per tonne, both oxide in
nature, which compare favorably with the average grade of 13.8 grams per
tonne in refractory ore above the 3,800 foot level
3. Golden Sunlight mine ( Montana )
The Golden Sunlight mine is located in Jefferson County in
southwestern Montana, 55 kilometers east of Butte and eight kilometers
northeast of Whitehall. The property lies on the eastern flank of a
fault-bounded mountain range known as Bull Mountain.Golden Sunlight is
mined by conventional open-pit methods. The ore treatment plant uses
conventional carbon-in-pulp technology as well as Sand Tailing
Retreatment (STR), designed to recover gold that would otherwise be lost
in the process. Golden Sunlight produced 86,000 ounces of gold in 2014
at all-in sustaining costs of $1,181 per ounce1. Proven and probable
mineral reserves as at December 31, 2014, were 127,000 ounces of
gold2.In 2015, gold production is expected to be 90,000-105,000 ounces
at all-in sustaining costs of $1,000-$1,025 per ounce
4. Goldstrike Mine ( Nevada )
The Goldstrike Complex is located on the Carlin Trend, the most
prolific gold mining district in the Western Hemisphere, about 60
kilometers northwest of Elko, Nevada. The Goldstrike operation includes
the Betze-Post open pit mine and the Meikle and Rodeo underground mines
which are located just north of the Betze-Post pit, along the same
mineralized trend.
The Betze-Post pit is a truck-and-shovel operation using large electric
shovels. Meikle is a high-grade ore body which is mined by transverse
longhole stoping, underhand drift and fill mining methods. Rodeo is a
further extension of the mineralization found at Goldstrike and is a
trackless operation, using two different underground mining methods:
long-hole open stoping and drift-and-fill.
The Goldstrike Property produced 902,000 ounces of gold in 2014 at
all-in sustaining costs of $854 per ounce1. Goldstrike’s proven and
probable mineral reserves as at December 31, 2014, were 9.6 million
ounces of gold2.
Production at Goldstrike in 2015 is expected to be 1.000-1.150 million
ounces at all-in sustaining costs of $700-$800 per ounce including
contributions from the thiosulfate leaching circuit. The mine is
anticipated to continue producing at the one million ounce level for the
next three years (2015-2017) at all-in sustaining costs below $900 per
ounce.
5. Round Mountain Mine( Nevada )
Round Mountain Located approximately 96 kilometers north of
Tonopah in Nye County, Nevada, Round Mountain is a joint venture
operation in which Barrick holds a 50% interest with Kinross Gold
Corporation — the operator — owning the remainder of the interest.
Round Mountain is a conventional open-pit operation that uses multiple
processing methods including crushed ore leaching (reusable pad),
run-of-mine ore leaching (dedicated pad), milling of higher-grade ore,
and the gravity concentration circuit.
Barrick’s share of gold production in 2014 was 164,000 ounces at all-in
sustaining costs of $1,170 per ounce1. Barrick’s share of proven and
probable mineral reserves as at December 31, 2014, was 690,000 ounces of
gold2.
In 2015, gold production is expected to be 170,000-190,000 ounces
(Barrick’s share) at all-in sustaining costs of $1,180-$1,205 per ounce.
6. Ruby Hill mine ( Nevada )
The Ruby Hill mine is located on the Battle Mountain/Eureka gold
trend, less than one kilometer from the town of Eureka and 193
kilometers south of the Goldstrike Property.
Ruby Hill produced 33,000 ounces of gold in 2014 at all-in sustaining
costs of $713 per ounce1. Proven and probable mineral reserves as at
December 31, 2014, were 24,000 ounces of gold.
7. Turquoise Ridge Mine ( Nevada )
The Turquoise Ridge property is located in the Potosi Mining
District, about 70 kilometers northeast of Winnemucca, Nevada, on the
eastern flank of the Osgood Mountains. Barrick is the operator and 75%
owner of the mine with Newmont owning the remaining 25%.
Turquoise Ridge uses underhand cut-and-fill mining methods and ore is
transported to Newmont’s Twin Creeks mill for processing. The refractory
gold ore is treated by pressure oxidation technology and gold is
recovered using conventional carbon-in-leach technology.
Barrick’s share of gold production in 2014 was 195,000 ounces of gold at
all-in sustaining costs of $628 per ounce.
The Turquoise Ridge mine contains 4.5 million ounces in reserves (75%
basis) at an average grade of 16.9 grams per tonne — the highest reserve
grade in the company's operating portfolio and among the highest in the
entire gold industry. Turquoise Ridge has considerable untapped
potential and could become a core operation for Barrick. The company is
advancing a project to develop an additional shaft, which could bring
forward more than one million ounces of production, roughly doubling
output to an average of 500,000 ounces per year (100% basis) at all-in
sustaining costs of about $625 - $675 per ounce.
The prefeasibility study was completed in January 2015 and key permits
are expected in 2015. Pending approval by the joint venture partners,
construction could commence in 2015, with initial production beginning
in 2019. Preliminary estimates indicate capital expenditures of
approximately $300 - $325 million (100% basis) for additional
underground development and shaft construction, and an attractive
payback period of roughly two and a half years using a gold price
assumption of $1,300 per ounce.
Exploration Gold Mine In Argentina
Exploration Gold Mine In Argentina
1. Veladero mine ( San Juan )
The Veladero mine mine is located in the San Juan Province of
Argentina, immediately to the south of the Pascua-Lama property in the
highly prospective Frontera District. The property is located at
elevations of 4,000 to 4,850 meters above sea level, approximately 374
kilometers northwest of the city of San Juan.
Veladero is a conventional open-pit operation where ore is crushed by a
two-stage crushing process and transported via overland conveyor and
trucks to the leach pad area. Run-of-mine ore is trucked directly to the
valley-fill leach pad.
Veladero produced 722,000 ounces of gold in 2014 at all-in sustaining
costs of $815 per ounce. Proven and probable mineral reserves as at
December 31, 2014, were 4.7 million ounces of gold.
Gold production in 2015 is expected to be 575,000 - 625,000 ounces and
all-in sustaining costs are anticipated to be $990 - $1,035 per ounce.
Exploration Gold Mine In
1. Kalgoorlie Mine ( Kalgoorlie )
The Kalgoorlie operation consists primarily of the Super Pit
open-pit mine, located along the Golden Mile ore bodies which were
previously mined from underground. The mine is located adjacent to the
town of Kalgoorlie approximately 550 kilometers east of Perth, Western
Australia. Barrick holds a 50% interest with Newmont Mining Corporation
holding the remaining 50% interest.
Kalgoorlie is an open-pit, truck-and-loader operation. Ore is treated at
the Fimiston mill, with the resulting sulphide concentrates then
roasted and leached at the Gidji roaster, located approximately 20
kilometers north of the main Kalgoorlie operations. Gold-laden carbon
from the Gidji roaster is also processed at the Fimiston mill.
Concentrates that cannot be processed by the roaster is treated by two
ultra-fine grinding mills.
Barrick's share of gold production in 2014 was 326,000 ounces at all-in
sustaining costs of $1,037 per ounce. Barrick's share of proven and
probable mineral reserves as at December 31, 2014, was 3.5 million
ounces of gold.
Gold production in 2015 is expected to be 315,000 - 330,000 ounces
(Barrick’s share) at all-in sustaining costs of $915 - $940 per ounce.
The Hemlo property consists of Williams, an underground and open pit
mine, located approximately 350 kilometers east of Thunder Bay, Ontario
Canada. Ore from the mine is fed to a standard grind, leach and
carbon-in-pulp extraction mill.
Hemlo produced 206,000 ounces of gold in 2014 at all-in sustaining costs
of $1,059 per ounce. Hemlo’s proven and probable mineral reserves as at
December 31, 2014, were 820,000 ounces of gold. In 2015, gold
production is expected to be 200,000-225,000 ounces at all-in sustaining
costs of $940-$980 per ounce.
Exploration Gold Mine In Dominican Republic
Exploration Gold Mine In Dominican Republic
1. Pueblo Viejo Mine ( Azua )
Pueblo Viejo is located in the Dominican Republic, approximately
100 kilometers northwest of the capital city of Santo Domingo, and is
operated by the Pueblo Viejo Dominicana Corporation ("PVDC") — a joint
venture between Barrick (60%) and Goldcorp (40%).
The mine completed its ramp up in 2014, and is now the only mine in the
world with annual production of more than one million ounces of gold
(100% basis), at all-in sustaining costs below $700 per ounce for the
next three years (2015-2017). Barrick’s technical experts have
identified multiple opportunities to further optimize operations and
increase cash flow at Pueblo Viejo. These include: increasing plant
throughput by optimizing ore blending and autoclave ability; and
reducing costs by optimizing maintenance programs.
Long-term, Pueblo Viejo has significant reserves and resources with
potential to expend the life of the mine.
Barrick’s share of gold production in 2014 was 665,000 ounces at all-in
sustaining costs of $588 per ounce. Gold production in 2015 is forecast
to be 625,000-675,000 ounces (Barrick’s share) at all-in sustaining
costs of $540-$590 per ounce.
Exploration Gold Mine In Papua New Guinea
1. Porgera Joint Venture Mine ( Enga )
The Porgera Joint Venture is an open pit and underground gold mine located at an altitude of 2,200 - 2,700 meters in the Enga Province of Papua New Guinea. The operation is roughly 130 kilometers west of Mount Hagen and 600 kilometers northwest of the capital Port Moresby. Barrick (Niugini) Ltd. is the 95% owner of the Porgera Joint Venture and is the manager of the operation. Barrick Gold Corporation and Zijin Mining Group each own 50% of Barrick (Niugini) Ltd. The remaining 5% interest in the Porgera Joint Venture is held by Mineral Resources Enga and is divided between the Enga Provincial government (2.5%) and local landowners (2.5%). Barrick’s share of gold production in 2014 was 493,000 ounces (95% basis) at all-in sustaining costs of $996 per ounce. Barrick’s share of proven and probable mineral reserves as at December 31, 2014, was 3.0 million ounces of gold (95% basis). In 2015, gold production is expected to be 400,000-450,000 ounces (95% basis) at all-in sustaining costs of $1,025-$1,125 per ounce.
Exploration Gold Mine In Peru
1. Lagunas Norte Mine ( Alto Chicama )
Lagunas Norte is located on the Alto Chicama property in
north-central Peru, 140 kilometers east of the coastal city of Trujillo,
and 175 kilometers north of Barrick’s Pierina mine. The property lies
on the western flank of the Peruvian Andes and is at an elevation of
4,000 to 4,260 meters above sea level. The Lagunas Norte mine is an
open-pit, crush, valley-fill heap leach operation.
Lagunas Norte produced 582,000 ounces of gold in 2014 at all-in
sustaining costs of $543 per ounce.
Production in 2015 is anticipated to be 600,000-650,000 ounces of gold
at all-in sustaining costs of $600 - $650 per ounce.
2. Pierina mine ( Andean Cordillera )
The Pierina mine is located in the Andean Cordillera in the Department of Ancash in north-central Peru, approximately 10 kilometers northwest of the city of Huaraz, at an altitude of approximately 4,100 meters. Pierina is an open-pit, truck-and-loader operation. Ore is crushed and transported through an overland conveyor to the leach pad area. Run-of-mine ore is trucked directly to a classic valley-fill type of leach pad. Pierina produced 17,000 ounces of gold in 2014 at all-in sustaining costs of $2,277 per ounce.
Exploration Gold Mine Argentina And Chili
1. Pascua Lama Mine ( Frontera )
The Pascua Lama project is located on the border of Chile and Argentina, in the Frontera district at an elevation of 3,800 to 5,200 meters, approximately 10 kilometers from Barrick’s Veladero mine. It has 15.4 million ounces of gold reserves and more than 674 million ounces of contained silver. During 2013, Barrick announced the temporary suspension of construction at Pascua-Lama, except for activities required for environmental and regulatory compliance. The ramp-down process has been completed on schedule and budget and the project is now on care and maintenance. Pascua-Lama's new Executive Project Director, Sergio Fuentes, reports to our Co-Presidents and comes to Barrick after nearly three decades of successfully managing the construction of complex mining projects in Chile, including high-altitude operations in the Andes. He and the team he is assembling are working hard to assess Pascua-Lama's economics going forward. To do so, they will address the project's outstanding legal and regulatory hurdles, and will complete a new execution plan to optimize remaining construction activities. If that plan aligns with our capital allocation objectives and demonstrates an acceptable return on invested capital of at least 15%, we will consider resuming development of Pascua-Lama. In any scenario, the company must permit and construct a new water management system in Chile. We will submit our application for the new system by mid-year, with permitting expected to take two years. In the meantime, we are working to minimize the costs of holding the asset. In 2015, Barrick anticipates expenditures of approximately $170 - $190 million for the project, including approximately $140 - $150 million for care and maintenance, including water management system costs, and approximately $30 - $40 million1 for other project costs, including those related to permit obligations in Argentina and Chile.
This is operations Copper production from Barrick gold mining :
Exploration Copper Mine Chile
1. Zaldívar Mine ( Andean Precordillera )
Zaldívar Copper mine is located in the Andean Precordillera in
Region II of northern Chile, approximately 1,400 kilometers north of
Santiago and 175 kilometers southeast of the port city of Antofagasta.
The mine lies at an average elevation of 3,000 meters.
Zaldívar is an open-pit, heap-leach copper mine. Pure cathode copper is
produced by three stages of crushing and stacking, followed by heap
leaching and bacterial activity to remove the copper from the ore.
Run-of-mine dump leach material is placed on the old sulphide ore pad
and leached.
Zaldívar produced 222 million pounds of copper in 2014 at cash costs of
$1.79 per pound and fully allocated costs of $1.94 per pound1. Proven
and probable copper reserves as at December 31, 2014, were 5.6 billion
pounds.
Copper production in 2015 is expected to be 230-250 million pounds at
cash costs of $1.65 - $1.95 per pound and fully allocated costs of $2.00
- $2.30 per pound
Exploration Copper Mine Zambia
1. Lumwana mine ( Solwezi District )
The Lumwana copper mine is located in Zambia, in one of the most prospective copper regions in the world. Lumwana ore, which is predominantly sulfide, is treated through a conventional sulfide flotation plant, producing copper concentrate for smelting. Lumwana produced 214 million pounds of copper in 2014 at cash costs of $2.08 per pound and fully allocated costs of $2.76 per pound. Proven and probable copper reserves as at December 31, 2014, were 3.3 billion pounds. Production is anticipated to be 250 - 270 million pounds at cash costs of $1.90 - $2.15 per pound in 2015.
Exploration Copper Mine Saudi Arabia
1. Jabal Sayid copper mine ( Jeddah )
In July 2014, Barrick reached an agreement to form a 50/50 joint
venture with Saudi Arabian Mining Company (Ma’aden) for the Jabal Sayid
copper mine in Saudi Arabia. Jabal Sayid is located 350 kilometres North
East of Jeddah in Saudi Arabia. The transaction closed on December 3,
2014.
Construction to complete safety and security installations has begun and
shipments of low-cost copper-in-concentrate are anticipated in early
2016. Once the mine reaches full production, the average annual output
is expected to be 100 million pounds per year, with the potential to
increase to 130 million pounds.
As at December 31, 2014, Barrick’s share of copper reserves at Jabal
Sayid was 699 million pounds.
READ MORE >>> The world Top Ten Gold Miners (tonnes)
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