Commenting on the company’s Q2 results, Bristow said improved performances from the Carlin complex in Nevada, the Kibali gold mine in the Democratic Republic of Congo and the Lumwana copper mine in Zambia have laid a sound

Q2 Results Release

BARRICK PROGRESSES EXTENSION OF LONG-TERM VALUE DELIVERY RUNWAY

ALL AMOUNTS EXPRESSED IN U.S. DOLLARS ON TRACK TO DELIVER WITHIN Toronto, August 8, 2023 — Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) is on target to meet its gold and ANNUAL PRODUCTION GUIDANCE copper production guidance for 2023 and continues to advance major projects which will drive value delivery in the long term through organic growth, president and chief executive Mark Bristow said today.

STRONGER SECOND HALF EXPECTED

Commenting on the company’s Q2 results, Bristow said improved performances from the Carlin complex in Nevada, the Kibali gold mine in the Democratic Republic of Congo and the Lumwana copper mine in Zambia have laid a sound foundation for production in the second half of the year which, as guided, is expected to surpass the first. Key drivers of

8% TRIFR³ REDUCTION

higher anticipated the H2 results are the Q2 completion of

YEAR-ON-YEAR

major maintenance projects at Nevada Gold Mines (“NGM”)

and the commissioning of the plant expansion at the Pueblo Viejo gold mine in the Dominican Republic.

Compared to Q1, gold production in Q2 was up 6% at just over 1 million ounces¹ while copper production increased 7% INCREASE IN OPERATING CASH by 22% to 107 million pounds.¹ Operating cash flow rose FLOW* TO $832 MILLION by 7% to $832 million, net earnings increased by 143% to 17 cents per share, and adjusted net earnings² increased

• COMPARED TO Q1 2023

by 36% to 19 cents per share. The quarterly dividend was maintained at 10 cents. Year-on-year, the total recordable

$0.10 PER SHARE DIVIDEND injury frequency rate (“TRIFR”) was reduced by 8% and

DECLARED FOR Q2 2023

greenhouse gas emissions were reduced by 12%.³

CONTINUED ON PAGE 3

4	5	6	7
NEVADA	LUMWANA’S	ORGANIC	WHITE RHINOS
FLEXIBILITY	BURIED	GROWTH	BACK IN DRC

TREASURE

Key Performance Indicators

Financial and Operating Highlights Best Assets

Financial Results	Q2 2023	Q1 2023 Q2 2022
Realized gold price1,4 ($ per ounce) Net earnings ($ millions) Adjusted net earnings2 ($ millions) Net cash provided by operating activities ($ millions) Free cash flow5 ($ millions) Net earnings per share ($) Adjusted net earnings per share2 ($) Attributable capital expenditures6,7 ($ millions)	1,972 305 336 832 63	1,902 1,861 120 488 247 419 776 924 88 169 0.07 0.27 0.14 0.24 526 587
	0.17
	0.19
	588
Operating Results	Q2 2023	Q1 2023 Q2 2022
Gold Production1 (000s of ounces) Cost of sales1,8 ($ per ounce) Total cash costs1,9 ($ per ounce) All-in sustaining costs1,9 ($ per ounce)	1,009 1,323 963 1,355	952 1,043 1,378 1,216 986 855 1,370 1,212
Copper Production1 (millions of pounds) Cost of sales1,8 ($ per pound) C1 cash costs1,10 ($ per pound) All-in sustaining costs1,10 ($ per pound)	107 2.84 2.28 3.13	88 120 3.22 2.11 2.71 1.70 3.40 2.87

• Strong performances at Carlin, Kibali and Lumwana keep Barrick on track to deliver gold and copper production within annual guidance
• Stronger second half expected with completion of major shutdowns at NGM and Pueblo Viejo ramp-up in Q3
• New equipment at Lumwana delivers 40% increase in copper production, 21% decrease in cost of sales and 26% decrease in C1 cash costs¹⁰ over Q1; more expected in H2 as we mine higher grade benches
• Solid Q2 production at Veladero places it firmly on track to deliver on full-year guidance
• Porgera continues to advance to restart, aided by settlement of legacy tax dispute and submission of new Special Mining Lease application
• Exploration progresses significant brownfields opportunities at Carlin, Cortez, Turquoise Ridge, Veladero, Loulo, Kibali and Lumwana while consolidating new prospective ground positions in USA, Canada, Dominican Republic, Peru, Chile, Tanzania and Côte d’Ivoire

Leader in Sustainability

• Pueblo Viejo receives environmental license for new tailings storage facility
• 8% reduction in TRIFR³ year-on-year
• 12% decrease in greenhouse gas emissions versus H1 2022

Q2 2023 Results Presentation

• Successful reintroduction of 16 white rhinos

Webinar and Conference Call

into the Garamba National Park in DRC Mark Bristow will host a live presentation of the results today at 11:00 AM ET, with an interactive webinar linked to a conference call. Participants will be able to ask questions. Delivering Value

• 7% increase in operating cash flow over Q1 to

Go to the webinar $832 million US and Canada (toll-free), 1 800 319 4610 UK (toll-free), 0808 101 2791

• 143% increase in net earnings per share over

International (toll), +1 416 915 3239 Q1 to $0.17 and 36% increase in adjusted net The Q2 2023 presentation materials will be available on earnings per share² to $0.19 for Q2 Barrick’s website at www.barrick.com and the webinar will

• $0.10 per share dividend declared

remain on the website for later viewing.

BARRICK SECOND QUARTER 2023 2 PRESS RELEASE

CONTINUED FROM PAGE 1

Exploration, traditionally Barrick’s key growth driver, is The massive Pueblo Viejo expansion project is making advancing significant resource and reserve growth significant progress with the process plant currently ramping opportunities at Carlin, Cortez and Turquoise Ridge in up to full capacity. The plant expansion and associated new Nevada, Veladero in Argentina and Loulo, Kibali and tailings storage facility will extend the Tier One¹¹ mine’s life to Lumwana in Africa. Barrick is also continuing to expand its beyond 2040 and is designed to sustain gold production global exploration footprint and has consolidated new above 800,000 ounces pear year (100% basis) going prospective ground holdings in the USA, Canada, the forward.¹² In Papua New Guinea, the resolution of the tax Dominican Republic, Peru, Chile, Tanzania and Côte d’Ivoire. dispute has allowed us to work toward the re-opening of the Porgera gold mine by the end of the year¹³, with a potential “Our asset base is the best in the business and it gives us a Tier One production profile, while the prefeasibility study on a platform from which we can clearly see and plan for the Super Pit at Lumwana is driving its transformation into future, managing the challenges and maximizing the another Tier One asset, capable of producing into the 2060s.

opportunities. At the halfway mark of this year, we’ve again advanced significantly towards our goal of building the world’s In Pakistan, Barrick continues to make solid progress on the most valued gold and copper mining company, and we have Reko Diq project. Reko Diq is targeting first production in the strategy, the means and the motivation to achieve that,” 2028, at the same time that the Lumwana expansion is Bristow said.

expected to be completed. Together, these projects will elevate Barrick into the premier league of copper producers, in line with its strategy of significantly expanding its copper portfolio.

BARRICK DECLARES Q2 DIVIDEND

Barrick today announced the declaration of a dividend of $0.10 per share for the second quarter of 2023.

The dividend is consistent with the company’s Performance “As a result of the continuing overall strength of our business Dividend Policy announced at the start of 2022. and balance sheet, we have maintained the distribution of a robust base dividend to our shareholders, while our The Q2 2023 dividend will be paid on September 15, 2023 to Performance Dividend Policy provides the potential for shareholders of record at the close of business on August 31, additional upside going forward,” said senior executive vice- 2023. president and chief financial officer Graham Shuttleworth.

THE POSITIVE IMPACT OF RESPONSIBLE MINING

Effective and equitable socio-economic development worldwide would not be possible without the transformative contribution of responsible mining, Mark Bristow said at the group’s third annual Sustainability Update on July 25.

Bristow said Barrick’s sustainability strategy was geared to “We believe the mining industry is a catalyst for sociothe United Nations’ Sustainable Development Goals (SDGs), economic development through the infrastructure we build, and in line with its commitment to transparency, its recently the jobs we create, the businesses we support through our published Sustainability Report for 2022 showed how its supply chains and the investments we make in local operations contributed to or impacted on specific SDGs. communities,” Beringer said.

“We believe mining is the flywheel of development and The group’s current key focus areas are: using its purchasing therefore the entire industry is essential to the achievement of power to drive down Scope 3 emissions from suppliers; the SDGs,” he said. developing a tool to measure its contribution to the conservation and regeneration of biodiversity; continuing to Barrick’s Sustainability Executive, Grant Beringer, said the provide ESG raters with the latest sustainability-related group was also making progress towards complete information; and progressing the environmental and social conformance with the latest best practices, including the studies at the giant Reko Diq project in Balochistan, Pakistan, International Council on Mining and Metals’ Performance where it is already delivering on its community development Expectations, the World Gold Council’s Responsible Gold commitments, far ahead of the targeted first production in Mining Principles and the Global Industry Standard on 2028.

Tailings Management. Barrick continues to meet or exceed its environmental targets, including recycling and reusing water “Done right, the mining industry is a powerful force for good in

• up to 83% from 80% in 2021 — and reducing greenhouse the global drive for social and economic development,”

gas emissions by 12% year-on-year and 6% for 2022. Bristow said.

BARRICK SECOND QUARTER 2023 3 PRESS RELEASE

NGM’s operating muscle has been beefed up with the ahead-of-schedule commissioning of the first seven of a new 22-unit Komatsu 930 fleet due this year.

FOCUS ON FLEXIBILITY AT NEVADA

With the completion of major maintenance shutdowns at NGM, and a significantly improved performance from Carlin, the focus on driving flexibility and reducing production risk has intensified.

NGM chairman Mark Bristow says while the superb quality of maintenance management, identifying and implementing the complex’s assets and its enormous untapped potential efficiency initiatives, and tightening control of compliance with make Nevada the value foundation on which operator and mine plans,” he says.

majority shareholder Barrick is growing its business, it has processing constraints which need to be overcome by “Barrick’s mantra is that the best assets need to be managed boosting operational flexibility. by the best people so there’s been an equally strong focus on building a management team and a workforce with the skills “We see at each of the three Tier One assets (Carlin, Cortez and orientation required to make the most of the world’s and Turquoise Ridge) multiple opportunities to strengthen the largest gold mining complex. In this regard, it’s worth noting life of mine with near-mine growth using the current that the training center we established at NGM has already infrastructure in the midterm (Leeville, Ren), new projects that produced more than 170 frontline and support staff can extend the use of the processing facilities (Robertson), graduates.”

and a long-term portfolio targeting significant brownfields and greenfields (Fourmile, Turquoise Ridge Underground) to During the past quarter, NGM’s operating muscle was beefed sustain current production past the 15-year window.” up with the ahead-of-schedule commissioning of the first seven of a new 22-unit Komatsu 930 fleet due this year. The “We’re planning to achieve this by increasing processing and rest of a total of 62 are due to be commissioned over the next mining run times, stepping up development at all the three years.

underground mines, improving and standardizing

BARRICK SECOND QUARTER 2023 4 PRESS RELEASE

WHERE WOMEN SHINE

On June 15, Barrick joined the rest of the industry in celebrating the International Day of Women in Mining. As Mark Bristow notes, however, acknowledging and encouraging the important role women should be playing in this traditionally male-dominated business is an everyday strategic priority for Barrick.

“People are the ultimate resource, and we invest the same amount of attention into finding and developing them as we do in exploring for mineral resources,” Bristow says. “There’s a strong commercial as well as a moral motivation to make gender diversity part of this strategy. The communities in which we operate include large numbers of capable and committed women who just need an opportunity to show what they can contribute.

“That’s why we have recruitment drives and training programs specifically targeted at women as well as initiatives to raise awareness of the value of female economic empowerment in their communities.

“At our Pueblo Viejo mine in the Dominican Republic, for example, women represented 51% of new hires and 35% of internal promotions last year, and 23% of its workforce is now female. Across the group we had almost 3,000 female employees, representing 12% of our global workforce at the end of 2022, with 18% of management positions and 16% of senior management positions being held by women. We’re working hard to make that proportion larger.”

LUMWANA’S BURIED TREASURE HOW BARRICK CREATES VALUE BY UNCOVERING POTENTIAL

Barrick’s post-merger focus on developing a clear understanding of the geological structures underlying its assets has unlocked enormous potential across the group, most recently at the 100% owned Lumwana copper mine in Zambia.

The transformation of this mine into a potential Tier One they will promote Barrick to the premier league of copper operation with a significant free cash flow and a life producers alongside its peerless gold portfolio.

expectancy into the 2060s is well under way, with the accelerated pre-feasibility study scheduled for completion “Both these projects demonstrate Barrick’s unique ability to towards the end of next year. Pre-construction will start in extract every ounce or pound of value from assets already in 2025 with 2028 targeted for first production. Concurrent with its portfolio,” he says.

the expansion, the existing process plant will be upgraded to support the new mine life.

“Resource conversion of the Chimiwungo Super Pit extension has started and the results to date have confirmed the deposit’s potential to provide the foundation for the Lumwana expansion project. Meanwhile resource definition drilling at the near-surface, low-strip Kamisengo deposit has shown that it can support the process plant feed during the stripping phase of the super pit,” says Sebastiaan Bock, chief operating officer of Barrick’s Africa & Middle East region.

Mark Bristow says when the new Lumwana and Reko Diq both come on stream, which is currently expected in 2028,

BARRICK SECOND QUARTER 2023 5 PRESS RELEASE

ORGANIC GROWTH IN MINERAL RESERVES SUPPORTS BARRICK’S 10-YEAR PRODUCTION PROFILE

Exploration continues to be the driving force that sets Barrick apart from its peers by delivering significant and sustained growth in attributable, proven and probable reserves.

“Since the 2019 merger with Randgold, we’ve replaced 125% In Nevada, Barrick continues to work on multiple Tier One of the gold depleted by mining (exclusive of divestments and targets that are expected to materially grow the resource and acquisitions on a gold equivalent basis)¹⁴ by unlocking the full reserve potential of one of the world's most endowed mining value of Barrick’s assets and successfully expanding the complexes. In the Africa & Middle East region, resource asset base through brownfields exploration,” says Simon conversion drilling at Kibali, Yalea at Loulo-Gounkoto and Bottoms, mineral resource management and evaluation Bulyanhulu is expected to again replace depletion this year. executive.

“Looking ahead to 2024, the completion of the prefeasibility “One of the big advantages of having high-quality assets in study on the Lumwana Super Pit expansion project and the the world’s most prospective regions is that we have a long updated feasibility study on the Reko Diq project in Pakistan replacement planning runway. A key group deliverable is the is expected to deliver organic growth over and above annual organic replacement of depletion on a rolling three-year depletion in the group’s mineral reserves. Next year’s reserve basis. Our focus for the rest of this year is on building the growth is also expected to be supported by the completion of mineral resources that will serve as the foundation for future conversion drilling in the greater Leeville complex and conversion into reserves.” elsewhere at NGM,” says Bottoms.

BARRICK SECOND QUARTER 2023 6 PRESS RELEASE

A PROUD HISTORY, A BRIGHT FUTURE

Barrick marked its 40th birthday this year, celebrating its growth from the modest, small-scale operation started by Canadian mining pioneer Peter Munk in the early 1980s.

When Barrick listed on the Toronto Stock Exchange on May 2, 1983, it had a market capitalization of C$100 million and produced 30,000 ounces of gold in its first full year of production. Since its merger with Randgold in 2019, the company aspires to be the world’s most valued gold and copper business with the best assets managed by the best people and delivering the best returns and benefits for all its stakeholders.

Barrick today has a multi billion dollar market capitalization and produced 4.1 million ounces of gold and 440 million pounds of copper in 2022¹ from a mine and project portfolio Ringing the closing bell of the Toronto Stock Exchange to commemorate Barrick’s 40th anniversary. spanning 19 countries.

BRINGING BACK WHITE RHINOS TO THE DRC

Barrick was the sole donor in the recent translocation of 16 southern white rhinos to the Democratic Republic of the Congo’s Garamba National Park, near our Kibali Gold Mine, in collaboration with the Institut Congolais pour la Conservation de la Nature (ICCN), African Parks and &Beyond Phinda Private Game Reserve in Kwazulu-Natal, South Africa, from where the rhinos were sourced. Northern white rhinos were last seen in the park in 2006 and are now considered extinct.

This latest sustainability initiative forms part of Barrick’s long- Additionally, Barrick will fund the translocation of a further 60 standing partnership with African Parks and Garamba, which white rhinos from South Africa to Garamba over the next has seen the company provide more than $2.5 million for three years. The project is aligned with Barrick’s biodiversity tracking collars, fuel for observation planes, rescue and strategy which places importance on restoring and rehabilitation programs as well as improvements to critical conserving areas with high conservation value and the infrastructure such as roads and bridges. species within those habitats.

BARRICK SECOND QUARTER 2023 7 PRESS RELEASE

Barrick president and chief executive Mark Bristow and Pueblo Viejo president Juana Barceló speak to local media during a briefing on July 27.

A COMPREHENSIVE MULTI-YEAR PROCESS EXTENDS THE LIFE OF PUEBLO VIEJO TO BEYOND 2040

The Barrick-operated Pueblo Viejo mine continues to advance the engineering design for the El Naranjo tailings storage facility (TSF) project which will extend its life to 2040 and beyond.¹² The plant expansion and associated new TSF is designed to sustain gold production above 800,000 ounces per year (100% basis) going forward.¹²

Speaking at a local media briefing on July 27, Mark Bristow country and international experts, including an independent said that the comprehensive engineering, environmental and peer review.

community process, conducted over several years, would enable Pueblo Viejo to double the enormous contribution it The company consulted with interested and affected parties had already made to the Dominican Republic’s economy. over the course of four years, including more than 3,000 community engagements and two open public participation In line with its commitment to transparency, Bristow detailed meetings. In line with the company’s commitment to the process leading up to the issuance of the environmental transparency and best practice, open public meetings were licence recently received for the new TSF. This started with a advertised in local and national media and allowed sufficient comprehensive site selection in line with the Global Industry opportunity for all parties to raise concerns, questions and Standard on Tailings Management (GISTM) and in comments throughout the process.

consultation with the Government and communities.

“Mining is the driver for global development and to date, Following the site selection process, an Environmental and Pueblo Viejo has paid a total of $3.2 billion in direct and Social Impact Assessment (ESIA) was completed which indirect taxes since commencing commercial production in considered potential impacts associated with the preferred 2013. The extension of the mine’s life will allow Pueblo Viejo and alternative sites. This involved the completion of to continue being a major creator of value for the Dominican numerous specialist studies undertaken by independent in- Republic and its people far into the future,” Bristow said.

BARRICK SECOND QUARTER 2023 8 PRESS RELEASE

TWIGA TRANSFORMS TANZANIAN MINING, SETS STANDARD FOR INDUSTRY

Twiga Minerals, the joint venture between the Tanzanian government and Barrick, has revitalized the country’s gold mining industry through a partnership that should serve as a model for similar operations, particularly in developing regions, says Mark Bristow.

Briefing media at a visit to the North Mara mine in July, Twiga has also committed $30 million to a Future Forward Bristow said, in 2019, when Barrick took control over North School Program. In partnership with the government, it will Mara and Bulyanhulu — the mines that now form the Twiga build 1,090 classrooms and other facilities across 161 complex – both were rundown and at a virtual standstill due schools nationwide, to accommodate some 49,000 students to a deadlocked dispute between the government and the who started their A-levels in July this year. In addition, it has previous operators. pledged $40 million to construct a 73 kilometre road from Kahama to Kakola.

“We settled the dispute and established Twiga as a 50:50 economic benefits sharing partnership, which also vested a Operationally, Bristow said the Twiga complex was continuing 16% shareholding in each mine with the government. We its strong production performance and was well on track to reinvented the mines which now, as a combined complex, achieve its guidance for the year. Both mines are maintaining produce gold at a Tier One level. So successful are these a strong focus on the health and safety of their workers, and operations that, since Barrick’s buyout of the minority in April Bulyanhulu won the Overall Tanzanian OSHA1 shareholders, they have contributed more than $2.8 billion to Compliance Award for 2023 in the Mining Sector Category the Tanzanian economy in the form of taxes, levies, and North Mara was second runner-up.

dividends, salaries and payments to local suppliers,” Bristow said. Globally, Barrick has a policy of prioritizing local employment and at Twiga this has delivered a workforce which is 96% “Equally important, we have fixed the environmental, land Tanzanian, with almost half drawn from the communities claims and human rights issues that destroyed these mines’ around the mines.

reputations and have restored their social licence to operate as an integral member of their communities. Since its Bristow said conversion drilling at North Mara was establishment, Twiga has invested more than $12.5 million in successfully replacing the reserves depleted by mining and landmark projects — identified in collaboration with the first ore was mined at the mine’s new Gena pit last quarter. community development committees we established at the Additional opportunities for resource conversion have been mines — to provide access to quality healthcare, educational identified at both mines.

facilities, potable water and alternative sources of income.

Among these is an irrigation system which is expected to “Barrick is committed to expanding its presence in Tanzania substantially improve production for more than 2,350 farmers, from our base here. We are currently consolidating key as well as a potable water tower that provides water to nearly prospecting licences in the country with a view to expanding 35,000 residents.” our existing reserves and resources as well as to discovering new world-class gold deposits,” he said.

BARRICK SECOND QUARTER 2023 9 PRESS RELEASE

KIBALI SET TO ROLL OUT NEW 10-YEAR PLAN ON BACK OF PRODUCTION RAMP-UP AND RESERVE REPLACEMENT

Africa’s biggest gold mine, Kibali, stepped up production significantly in the past quarter as part of its planned ramp-up and is well on track to achieve its annual guidance. At the same time, successful exploration is expected to more than replace reserves depleted by mining again this year.

Briefing media in Kinshasa, Mark Bristow said the 10-year-old $4.6 billion to the country in the form of dividends, royalties mine was now rolling out its business plan for the next and taxes. In line with our local procurement policy, Kibali decade, securing its status as one of the company’s elite gives preference to Congolese suppliers and contractors, portfolio of Tier One mines — those capable of producing who to date have received $2.5 billion from the mine,” Bristow 500,000 ounces or more of gold for at least 10 years at a cost said.

below the industry average.

“Barrick’s commitment to the DRC is also evident from the The mine draws most of its power from its three hydropower extensive support we have given the Garamba National Park, stations on the Kibali river. A planned 16MW solar farm, contributing to the conservation of high value biodiversity. designed to back up the hydropower during the Democratic Most recently we led the drive to reintroduce white rhinos to Republic of Congo’s (DRC’s) dry season, is expected to the park, where they were last seen 17 years ago. Last increase the renewable power contribution to the mine’s month 16 of these rhinos were successfully introduced to energy grid from 79% to 88%, with Kibali running entirely on Garamba with a further 60 scheduled for delivery over the renewables during the wet season. next three years.”

Bristow said the creation of a world-class mine and a thriving Kibali’s Cahier des Charges program launched eleven local economy in one of the DRC’s remotest and least projects in 2023 with seven of these scheduled for completion developed regions represented a triumph for the successful this July. The mine is investing $8.9 million in this program partnership between Barrick, the country’s government and over five years. The community development fund is also its host communities. implementing a number of new projects.

“Our stakeholders in the DRC have benefited enormously from Kibali, which over the past 10 years has contributed

BARRICK SECOND QUARTER 2023 10 PRESS RELEASE

SUCCESSFUL EXPLORATION CONTINUES TO EXTEND TONGON’S LIFE OF MINE

Originally scheduled for closure in 2020, the life of Barrick’s Tongon gold mine continues to be extended through successful exploration campaigns.

Tongon general manager Hilaire Diarra says that since now also been awarded a new exploration permit for Tongon poured its first gold in 2010, the mine has contributed Boundiali and drilling is ongoing at the Fonondara conversion $2.2 billion to the Ivorian economy in the form of taxes, project,” he said.

infrastructure development, salaries and payments to local suppliers. “In spite of the fact that throughout its life Tongon has had to contend with serious operational issues, as well as a “Extending its life will help ensure that Tongon is still able to challenging socio-political environment, since pouring first share the value it creates with all its Ivorian stakeholders gold it has never had an unprofitable quarter, which is a continuing its investment in community infrastructure tribute to the dedication of the mine’s successive development and income-generating projects. Exploration management teams. At the halfway mark of this year, it is on has further delivered the Seydou North, Tongon West and track to once again achieve its annual production guidance.” Djinni satellite targets adding to the life of mine. Barrick has

BARRICK SECOND QUARTER 2023 11 PRESS RELEASE

SUCCESSFUL PARTNERSHIP WILL KEEP GOLD SHINING FOR MALI

The 26-year-long partnership between Barrick (previously Randgold) and the state of Mali has built the country’s gold mining industry into a world leader and positioned it strongly for further growth, says Mark Bristow.

Speaking at a media briefing at the Loulo-Gounkoto complex, and delivered sustainable benefits to all stakeholders, Bristow said the complex was one of the world’s top 10 gold including the country’s citizens.”

producers and the biggest business in terms of enterprise value in the whole of West Africa. Together with the Morila In line with Barrick’s global policy of local procurement, mine, the complex has contributed $9.3 billion to the Malian Malian suppliers accounted for 74% of the complex’s economy and accounted for between 5% and 10% of the purchases, amounting to $298 million, during the first half of country’s GDP over the past 10 years. Loulo-Gounkoto is one this year.

of Mali’s largest taxpayers and employers, with a workforce of some 7,000, 97% of whom are Malian nationals. Over the life Turning to Loulo-Gounkoto’s operations, Bristow said the of the complex the state has received more than 70% of the complex was continuing to perform strongly and was on track economic benefits it created. to achieve its production guidance for this year. It remains tightly focused on the safety of its workers and there were no “We are continuing to invest in the future of Loulo-Gounkoto. lost-time injuries again during the past quarter.

Successful exploration is more than replacing the ounces we mine as well as identifying new growth opportunities with the As part of Barrick’s transition to renewable energy, the potential to deliver the next generation of major discoveries in complex is extending its solar power installation by 48MW the Loulo region. The new underground mine at Gounkoto – and battery storage system by 38MVA. The project is already the complex’s third – has developed its first production stopes feeding 10MW into the mines micro-grid and it is expected and the Yalea South cutback is ahead of plan,” Bristow said. that its second phase will be commissioned well ahead of the current end-2024 completion date.

“We foresee that the complex will be a major contributor to the Malian economy for years to come. The achievement of that vision will require the continued commitment to the mutually rewarding partnership which has brought us this far

BARRICK SECOND QUARTER 2023 12 PRESS RELEASE