Name of the Project
Reko Diq copper/gold project.

Location
Balochistan, Pakistan.

Project Owner/s
Barrick Gold owns 50% of Reko Diq and is developing and will operate the mine. The Balochistan province, which hosts the deposit, has a 25% share and the federal government holds the other 25% through State-owned entities.

Project Description
Reko Diq is one of the world’s biggest undeveloped copper/gold deposits. It will be a multigenerational mine with a life of at least 40 years. The contemplated mine plan is based on four porphyry deposits within Barrick’s land package.

The project is envisaged to be developed in two stages. Phase 2 will be built parallel to Phase 1, starting with an initial crush, milling and flotation circuit with a throughput capacity of about 40-million tonnes a year.

Phase 2 is designed to produce 400 000 t/y of copper and 500 000 oz/y of gold.

There is opportunity for a Phase 3 expansion.

Potential Job Creation
During peak construction periods, the project will employ 7 500 people and, once in production, will create about 4 000 long-term jobs.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Phase 1 is expected to cost $4-billion and Phase 2 $3-billion.

Planned Start/End Date
First production of copper and gold is expected in 2028.

Latest Developments
The project is on track for the delivery of its feasibility study by the end of this year.

The on-site exploration team is raking in opportunities for an updated resource triangle by the end of this year. Early indications are that the mining lease area holds a resource potential “far beyond” what is currently envisaged.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Barrick Gold investor and media relations Kathy du Plessis, tel +44 20 7557 7738 or emailbarrick@dpapr.com.