Barrick Gold Corporation

05/04/2022 | Press release | Distributed by Public on 05/04/2022 04:40

Q1 Mine Statistics

Barrick Q1 2022 Mine Statistics

Summary QTD

Summary of Operations
For the three months ended March 31, 2022 2021
Gold produced (000s ozs 100% basis) Gold produced (000s ozs attributable share) Gold sold (000s ozs attributable share) Total costs of sales ($/oz) Total cash costs ($/oz)1 All-In sustaining costs ($/oz)1 Gold produced (000s ozs 100% basis) Gold produced (000s ozs attributable share) Gold sold (000s ozs attributable share) Total costs of sales ($/oz) Total cash costs ($/oz)1 All-In sustaining costs ($/oz)1
Carlin (61.5%)2 373 229 230 1,015 829 1,139 373 229 231 950 766 1,045
Cortez (61.5%) 187 115 118 1,113 784 1,150 163 100 102 1,251 860 1,203
Turquoise Ridge (61.5%) 109 67 64 1,436 1,030 1,281 149 92 92 1,007 647 741
Phoenix (61.5%) 37 23 21 2,253 835 1,027 41 25 24 2,051 346 530
Long Canyon (61.5%) 41 25 25 1,093 342 366 63 39 39 511 79 156
Nevada Gold Mines LLC (61.5%)3 747 459 458 1,169 820 1,118 789 485 488 1,047 686 932
Hemlo 31 31 31 1,727 1,503 1,982 47 47 47 1,610 1,324 1,840
North America 778 490 489 1,205 863 1,173 836 532 535 1,097 742 1,013
Pueblo Viejo (60%) 174 104 104 1,077 682 948 229 137 141 816 507 689
Veladero (50%) 92 46 39 1,348 847 1,588 64 32 31 1,151 736 2,104
Porgera (47.5%)4 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Latin America & Asia Pacific 266 150 143 1,176 728 1,133 293 169 172 903 548 954
Loulo-Gounkoto (80%) 172 138 137 1,088 721 982 193 154 151 974 608 920
Kibali (45%) 168 76 73 1,137 744 996 192 86 86 1,065 691 856
Tongon (89.7%) 39 35 38 2,036 1,667 1,803 54 48 48 1,510 995 1,062
North Mara (84%) 66 56 58 852 709 874 74 62 56 1,061 832 1,038
Bulyanhulu (84%) 53 45 55 1,216 847 984 39 33 28 1,211 865 957
Buzwagi (84%) - 0 - 0 - 0 - 0 - 0 - 0 20 17 17 1,486 1,450 1,467
Africa & Middle East 498 350 361 1,178 842 1,053 572 400 386 1,114 763 968
Total Gold 1,542 990 993 1,190 832 1,164 1,701 1,101 1,093 1,073 716 1,018
For the three months ended March 31, 2022 2021
Copper produced (Mlbs 100% basis) Copper produced (Mlbs attributable share) Copper sold (Mlbs attributable share) Total costs of sales ($/lb) C1 cash costs ($/lb)5 All-In sustaining costs ($/lb)5 Copper produced (Mlbs 100% basis) Copper produced (Mlbs attributable share) Copper sold (Mlbs attributable share) Total costs of sales ($/lb) C1 cash costs ($/lb)5 All-In sustaining costs ($/lb)5
Zaldívar (50%) 51 25 26 2.85 2.15 2.64 48 24 27 3.03 2.25 2.47
Lumwana 57 57 70 2.20 1.86 3.16 51 51 69 1.97 1.48 2.37
Jabal Sayid (50%) 38 19 17 1.30 1.10 1.17 36 18 17 1.21 1.06 1.22
Total Copper 146 101 113 2.21 1.81 2.85 135 93 113 2.11 1.60 2.26
1 Total cash costs per ounce and all-in sustaining costs per ounce are non-GAAP financial performance measures with no standard meaning under IFRS. For further information, please see endnote #1.
2 These results include NGM's interest in South Arturo. On September 7, 2021, NGM announced it had entered into an Exchange Agreement with i-80 Gold Corp. to acquire the 40% interest in South Arturo that NGM did not already own in exchange for the Lone Tree and Buffalo Mountain properties and infrastructure. Operating results within our 61.5% interest in Carlin includes NGM's 60% interest in South Arturo up until May 30, 2021, and 100% interest thereafter, reflecting the terms of the Exchange Agreement which closed on October 14, 2021. Refer to our Q1 2022 Report for further information.
3 These results represent our 61.5% interest in Carlin (including NGM's interest in South Arturo), Cortez, Turquoise Ridge, Phoenix and Long Canyon.
4 On April 25, 2020, Porgera was placed on care and maintenance after the Government of Papua New Guinea communicated on April 24, 2020 that the Special Mining Lease would not be extended. Refer to our Q1 2022 Report for further information.
5 C1 cash costs per pound and all-in sustaining costs per pound are non-GAAP financial performance measures with no standard meaning under IFRS. For further information, please see endnote #2.
BARRICK FIRST QUARTER 2022 1 MINE STATISTICS

Minestats1

Mine Statistics (Gold)
Carlin (61.5%)1 Cortez (61.5%) Turquoise Ridge (61.5%) Phoenix (61.5%) Long Canyon (61.5%) Nevada Gold Mines LLC (61.5%)2 Hemlo
For the three months ended March 31, 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021
Tonnes mined (thousands) 18,634 18,898 17,895 20,923 211 3,569 6,361 6,822 2,330 3,945 45,431 54,157 330 319
Open Pit Ore 957 882 1,623 1,818 - 0 1,158 2,753 3,286 773 1,026 6,106 8,170 n/a n/a
Open Pit Waste 16,841 17,215 15,994 18,800 - 0 2,215 3,608 3,536 1,557 2,919 38,000 44,685 n/a n/a
Underground 836 801 278 305 211 196 n/a n/a n/a n/a 1,325 1,302 330 319
Strip Ratio 17.60 19.52 9.85 10.34 n/a 1.91 1.31 1.08 2.02 2.85 6.22 5.47 n/a n/a
Cost per tonne mined ($/tonne)3
Open Pit 2.32 2.02 2.67 1.90 n/a 2.66 2.72 2.29 2.72 2.18 2.54 2.06 n/a n/a
Underground 105.34 95.66 101.96 75.82 168.18 145.85 n/a n/a n/a n/a 114.65 98.56 115.45 127.65
Tonnes processed (thousands) 2,973 3,026 2,014 2,335 539 967 2,776 2,558 773 1,139 9,075 10,025 272 453
Oxide Mill 593 749 664 556 93 105 1,604 1,761 n/a n/a 2,954 3,171 272 453
Roasters 1,122 1,058 272 339 n/a n/a n/a n/a n/a n/a 1,394 1,397 n/a n/a
Autoclave 540 525 n/a n/a 446 668 n/a n/a n/a n/a 986 1,193 n/a n/a
Heap Leach 718 694 1,078 1,440 - 0 194 1,172 797 773 1,139 3,741 4,264 n/a n/a
Cost per tonne processed ($/tonne)3
Oxide Mill 21.22 16.85 11.36 13.24 14.23 9.56 11.24 8.99 n/a n/a 13.37 11.61 24.11 15.37
Roasters 27.72 24.12 27.51 37.85 n/a n/a n/a n/a n/a n/a 27.68 27.44 n/a n/a
Autoclave 43.90 48.23 n/a n/a 60.28 28.06 n/a n/a n/a n/a 51.30 36.97 n/a n/a
Heap Leach 8.12 6.31 4.28 2.41 - 0 4.60 1.70 3.14 0.97 0.80 3.72 2.85 n/a n/a
G&A cost per tonne processed ($/tonne)3 6.10 5.11 4.33 3.81 11.77 6.31 1.49 1.61 1.04 1.11 4.20 3.64 9.04 10.53
Average grade (grams per tonne)4
Open Pit mined 0.97 0.95 1.01 0.84 n/a 1.87 0.41 0.54 1.12 2.58 0.75 1.09 n/a n/a
Underground mined 7.87 8.75 9.17 8.51 11.87 11.64 n/a n/a n/a n/a 8.79 9.22 3.89 5.86
Processed 3.39 3.49 1.76 1.81 4.65 3.42 0.36 0.42 1.12 2.33 1.98 2.18 3.61 3.28
Recovery rate (percent) 77% 78% 80% 81% 79% 82% 70% 68% n/a n/a 77% 79% 95% 94%
Oxide Mill5 n/a n/a 72% 77% 79% 87% 70% 68% n/a n/a 71% 74% 95% 94%
Roasters 85% 86% 87% 84% n/a n/a n/a n/a n/a n/a 85% 86% n/a n/a
Autoclave 46% 45% n/a n/a 79% 81% n/a n/a n/a n/a 65% 68% n/a n/a
Production (thousands of ounces) 229 229 115 100 67 92 23 25 25 39 459 485 31 47
Oxide Mill 9 7 35 36 3 5 23 23 n/a n/a 70 71 31 47
Roasters 183 188 49 53 n/a n/a n/a n/a n/a n/a 232 241 n/a n/a
Autoclave 25 25 n/a n/a 62 84 n/a n/a n/a n/a 87 109 n/a n/a
Heap Leach 12 9 31 11 2 3 n/a 2 25 39 70 64 n/a n/a
Sales (thousands of ounces) 230 231 118 102 64 92 21 24 25 39 458 488 31 47
Cost of sales per ounce ($/oz) 1,015 950 1,113 1,251 1,436 1,007 2,253 2,051 1,093 511 1,169 1,047 1,727 1,610
Costs per ounce ($/oz)
Royalties and production taxes 33 24 104 72 - - - - - - 43 27 143 313
Depreciation 185 182 323 388 402 342 523 518 750 432 305 298 202 275
Total cash costs6 829 766 784 860 1,030 647 835 346 342 79 820 686 1,503 1,324
All-in sustaining costs6 1,139 1,045 1,150 1,203 1,281 741 1,027 530 366 156 1,118 932 1,982 1,840
Capital expenditures ($ millions)7
Minesite sustaining6 69 61 41 33 16 9 3 4 - 2 130 113 13 22
Projects6 - - 12 10 6 11 - - - - 30 21 - -
Total capital expenditures ($ millions)7 69 61 53 43 22 20 3 4 - 2 160 134 13 22
1 These results include NGM's interest in South Arturo. On September 7, 2021, NGM announced it had entered into an Exchange Agreement with i-80 Gold Corp. to acquire the 40% interest in South Arturo that NGM did not already own in exchange for the Lone Tree and Buffalo Mountain properties and infrastructure. Operating results within our 61.5% interest in Carlin includes NGM's 60% interest in South Arturo up until May 30, 2021, and 100% interest thereafter, reflecting the terms of the Exchange Agreement which closed on October 14, 2021. Refer to our Q1 2022 Report for further information.
2 These results represent our 61.5% interest in Carlin (including NGM's interest in South Arturo), Cortez, Turquoise Ridge, Phoenix and Long Canyon.
3 Cost per tonne mined ($/tonne), cost per tonne processed ($/tonne) and G&A cost per tonne processed ($/tonne) are supplementary financial measures. For further information please refer to endnote #4
4 At Phoenix, stated grades relate to material slated for processing at the oxide mill.
5 Excludes the Gold Quarry (Mill 5) concentrator.
6 Total cash costs per ounce, all-in sustaining costs per ounce, minesite sustaining capital expenditures and project capital expenditures are non-GAAP financial performance measures with no standard meaning under IFRS. For further information please refer to endnotes #1 and #3.
7 Capital expenditures are presented on a cash basis and are reported at Barrick's share.
BARRICK FIRST QUARTER 2022 2 MINE STATISTICS

Minestats2

Mine Statistics (Gold)
Pueblo Viejo (60%) Veladero (50%) Porgera (47.5%)1
For the three months ended March 31, 2022 2021 2022 2021 2022 2021
Tonnes mined (thousands) 4,318 6,636 7,886 9,550 - -
Open Pit Ore 1,199 2,137 2,606 1,311 - -
Open Pit Waste 3,119 4,499 5,280 8,239 - -
Underground n/a n/a n/a n/a - -
Strip Ratio 2.60 2.11 2.03 6.28 - -
Cost per tonne mined ($/tonne)2
Open Pit 3.43 2.59 4.15 2.89 - -
Underground n/a n/a n/a n/a - -
Tonnes processed (thousands) 1,511 1,349 3,506 1,305 - -
Autoclave 1,511 1,349 n/a n/a - -
Heap Leach n/a n/a 3,506 1,305 - -
Cost per tonne processed ($/tonne)2
Autoclave 36.42 37.06 n/a n/a - -
Heap Leach n/a n/a 3.95 6.81 - -
G&A cost per tonne processed ($/tonne)2 5.82 6.11 2.30 2.62 - -
Average grade (grams per tonne)
Open Pit mined 2.46 2.46 0.80 0.78 - -
Underground mined n/a n/a n/a n/a - -
Processed 2.47 3.55 0.67 0.85 - -
Recovery rate (percent) 87% 88% n/a n/a - -
Autoclave 87% 88% n/a n/a - -
Production (thousands of ounces) 104 137 46 32 - -
Autoclave 104 137 n/a n/a - -
Heap Leach n/a n/a 46 32 - -
Sales (thousands of ounces) 104 141 39 31 - -
Cost of sales per ounce ($/oz) 1,077 816 1,348 1,151 - -
Costs per ounce
Royalties and production taxes 62 60 176 205 - -
Depreciation 333 263 481 369 - -
Total cash costs3 682 507 847 736 - -
All-in sustaining costs3 948 689 1,588 2,104 - -
Capital expenditures ($ millions)4
Minesite sustaining3 26 24 28 41 - -
Projects3 47 35 8 - - -
Total capital expenditures ($ millions)4 73 59 36 41 - -
1 On April 25, 2020, Porgera was placed on care and maintenance after the Government of Papua New Guinea communicated on April 24, 2020 that the Special Mining Lease would not be extended. Refer to our Q1 2022 Report for further information.
2 Cost per tonne mined ($/tonne), cost per tonne processed ($/tonne) and G&A cost per tonne processed ($/tonne) are supplementary financial measures. For further information please refer to endnote #4.
3 Total cash costs per ounce, all-in sustaining costs per ounce, minesite sustaining capital expenditures and project capital expenditures are non-GAAP financial performance measures with no standard meaning under IFRS. For further information, please refer to endnotes #1 and #3.
4 Capital expenditures are presented on a cash basis and are reported at Barrick's share.
BARRICK FIRST QUARTER 2022 3 MINE STATISTICS

Minestats3

Mine Statistics (Gold)
Loulo-Gounkoto (80%) Kibali (45%) Tongon (89.7%) North Mara (84%) Bulyanhulu (84%) Buzwagi (84%)
For the three months ended March 31, 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021
Tonnes mined (thousands) 9,325 9,009 3,806 3,409 9,514 6,573 1,412 248 231 125 - n/a
Open Pit Ore 735 149 376 261 435 488 709 n/a n/a n/a - n/a
Open Pit Waste 7,797 8,313 3,079 2,694 9,079 6,085 379 n/a n/a n/a - n/a
Underground 793 547 351 454 n/a n/a 324 248 231 125 - n/a
Strip Ratio 10.61 55.79 8.19 10.32 20.87 12.47 0.53 n/a n/a n/a - n/a
Cost per tonne mined ($/tonne)1
Open Pit 3.07 3.00 3.51 3.64 3.22 3.34 6.83 n/a n/a n/a - n/a
Underground 41.92 52.55 55.98 39.11 n/a n/a 57.09 76.14 98.38 101.41 - n/a
Tonnes processed (thousands) 995 984 781 894 912 964 598 642 193 110 - 827
Cost per tonne processed ($/tonne)1 22.81 19.82 20.41 16.75 21.96 19.33 22.27 15.66 55.52 60.19 - 16.86
G&A cost per tonne processed ($/tonne)1 8.88 8.92 9.26 7.98 4.34 5.89 15.17 11.45 28.98 42.05 - 2.98
Average grade (grams per tonne)
Open Pit mined 1.73 2.82 1.43 2.55 1.56 2.25 2.13 n/a n/a n/a - n/a
Underground mined 4.91 4.61 5.88 5.18 n/a n/a 5.84 3.94 8.25 9.78 - n/a
Processed2 4.74 5.38 3.37 3.33 1.44 1.82 3.31 3.31 7.76 9.90 - 0.72
Recovery rate (percent) 91% 91% 89% 90% 83% 85% 88% 90% 92% 94% - 87%
Production (thousands of ounces) 138 154 76 86 35 48 56 62 45 33 - 17
Sales (thousands of ounces) 137 151 73 86 38 48 58 56 55 28 - 17
Cost of sales per ounce ($/oz) 1,088 974 1,137 1,065 2,036 1,510 852 1,061 1,216 1,211 - 1,486
Costs per ounce
Royalties and production taxes 113 107 86 85 75 53 150 152 134 140 - 117
Depreciation 367 366 388 370 366 515 138 222 261 351 - 65
Total cash costs3 721 608 744 691 1,667 995 709 832 847 865 - 1,450
All-in sustaining costs3 982 920 996 856 1,803 1,062 874 1,038 984 957 - 1,467
Capital expenditures ($ millions)4
Minesite sustaining3 33 43 15 11 4 2 7 11 7 2 - -
Projects3 18 12 4 - - - 11 5 4 9 - -
Total capital expenditures ($ millions)4 51 55 19 11 4 2 18 16 11 11 - -
1 Cost per tonne mined ($/tonne), cost per tonne processed ($/tonne) and G&A cost per tonne processed ($/tonne) are supplementary financial measures. For further information please refer to endnote #4.
2 Includes stockpile processing for Buzwagi.
3 Total cash costs per ounce, all-in sustaining costs per ounce, minesite sustaining capital expenditures and project capital expenditures are non-GAAP financial performance measures with no standard meaning under IFRS. For further information, please refer to endnotes #1 and #3.
4 Capital expenditures are presented on a cash basis and are reported at Barrick's share.
BARRICK FIRST QUARTER 2022 4 MINE STATISTICS

Minestats4

Mine Statistics (Copper)
Copper - Total Lumwana Zaldívar (50%) Jabal Sayid (50%)
For the three months ended March 31, 2022 2021 2022 2021 2022 2021 2022 2021
Tonnes mined (thousands) 28,666 29,212 18,645 19,113 9,633 9,770 388 329
Open Pit Ore 9,752 11,458 4,566 6,357 5,186 5,101 n/a n/a
Open Pit Waste 18,526 17,425 14,079 12,756 4,447 4,669 n/a n/a
Underground 388 329 n/a n/a n/a n/a 388 329
Strip Ratio 1.90 1.52 3.08 2.01 0.86 0.92 n/a n/a
Tonnes processed (thousands) 9,776 11,107 5,785 6,355 3,636 4,413 355 339
Average grade 0.63% 0.62% 0.48% 0.44% 0.53% 0.52% 2.64% 2.68%
Recovery rate (percent) 94% 94% 94% 92% n/a n/a 93% 93%
Production (millions of pounds) 101 93 57 51 25 24 19 18
Sales (millions of pounds) 113 113 70 69 26 27 17 17
Cost of sales per pound ($/lb) 2.21 2.11 2.20 1.97 2.85 3.03 1.30 1.21
Costs per pound
C1 Cash Costs1 1.81 1.60 1.86 1.48 2.15 2.25 1.10 1.06
Depreciation 0.54 0.64 0.54 0.69 0.70 0.78 0.28 0.18
All-in sustaining costs1 2.85 2.26 3.16 2.37 2.64 2.47 1.17 1.22
Capital expenditures ($ millions)2
Minesite sustaining1 67 42 57 37 9 3 1 2
Projects1 8 11 - - 6 11 2 -
Total capital expenditures ($ millions)2 75 53 57 37 15 14 3 2
1 C1 cash costs per pound, all-in sustaining costs per pound, minesite sustaining capital expenditures and project capital expenditures are non-GAAP financial performance measures with no standard meaning under IFRS. For further information, please refer to endnotes #2 and #3.
2 Capital expenditures are presented on a cash basis and are reported at Barrick's share.
BARRICK FIRST QUARTER 2022 5 MINE STATISTICS

Endnote

TECHNICAL INFORMATION
The scientific and technical information contained in this document has been reviewed and approved by Craig Fiddes, SME-RM, Manager - Resource Modeling, Nevada Gold Mines; Chad Yuhasz, P.Geo, Mineral Resource Manager, Latin America & Asia Pacific; Simon Bottoms, CGeol, MGeol, FGS, FAusIMM, Mineral Resources Manager: Africa & Middle East; Rodney Quick, MSc, Pr. Sci.Nat, Mineral Resource Management and Evaluation Executive; John Steele, CIM, Metallurgy, Engineering and Capital Projects Executive; and Rob Krcmarov, FAusIMM, Technical Advisor to Barrick - each a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. All mineral reserve and mineral resource estimates are estimated in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Unless otherwise noted, such mineral reserve and mineral resource estimates are as of December 31, 2021.
ENDNOTE #1
""Total cash costs" per ounce and "All-in sustaining costs" per ounce are non-GAAP financial performance measures. "Total cash costs" start with our cost of sales related to gold production and removes depreciation, the non-controlling interest of cost of sales and includes by-product credits. "All-in sustaining costs" start with "total cash costs" and includes minesite sustaining capital expenditures, sustaining leases, general and administrative costs, minesite exploration and evaluation costs and reclamation cost accretion and amortization. These additional costs reflect the expenditures made to maintain current production levels. "Total cash costs" per ounce and "All-in sustaining costs" per ounce are intended to provide additional information only and do not have any standardized meaning under IFRS. Although a standardized definition of all-in sustaining costs was published by the World Gold Council (a market development organization for the gold industry comprised of and funded by gold mining companies from around the world, including Barrick), it is not a regulatory organization, and other companies may calculate this measure differently. These measures should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS. Further details including a detailed reconciliation on these non-GAAP measures to their most directly comparable financial measures disclosed in Barrick's financial statements are incorporated by reference and provided starting on page #SectionPage# in the Fourth Quarter and Year End 2021 Report filed on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.
ENDNOTE #2
"C1 cash costs" per pound and "All-in sustaining costs" per pound are non-GAAP financial performance measures. "C1 cash costs" per pound is based on cost of sales but excludes the impact of depreciation and royalties and includes treatment and refinement charges. "All-in sustaining costs" per pound begins with "C1 cash costs" per pound and adds further costs which reflect the additional costs of operating a mine, primarily sustaining capital expenditures, sustaining leases, general & administrative costs and royalties. Barrick believes that the use of "C1 cash costs" per pound and "all-in sustaining costs" per pound will assist investors, analysts, and other stakeholders in understanding the costs associated with producing copper, understanding the economics of copper mining, assessing our operating performance, and also our ability to generate free cash flow from current operations and to generate free cash flow on an overall Company basis. "C1 cash costs" per pound and "All-in sustaining costs" per pound are intended to provide additional information only, do not have any standardized meaning under IFRS, and may not be comparable to similar measures of performance presented by other companies. These measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Further details including a detailed reconciliation of these non-GAAP measures to their most directly comparable financial measures disclosed in Barrick's financial statements are incorporated by reference and provided starting on page #SectionPage# in the Fourth Quarter and Year End 2021 Report filed on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.
ENDNOTE #3
"Minesite sustaining capital expenditures" and "project capital expenditures" are non-GAAP financial performance measures. Capital expenditures are classified into minesite sustaining capital expenditures or project capital expenditures depending on the nature of the expenditure. Minesite sustaining capital expenditures is the capital spending required to support current production levels. Project capital expenditures represent the capital spending at new projects and major, discrete projects at existing operations intended to increase net present value through higher production or longer mine life. These measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Further details on these non-GAAP measures are incorporated by reference and provided starting on page #SectionPage# in the Fourth Quarter and Year End 2021 Report filed on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.
ENDNOTE #4
"Cost per tonne mined ($/tonne)", "Cost per tonne processed ($/tonne)" and "G&A cost per tonne processed ($/tonne)" are supplementary financial measures. These metrics provide a measure of period operating costs, before capitalization of waste stripping and allocation to inventory, divided by the number of tonnes mined/processed in the period.
BARRICK FIRST QUARTER 2022 6 MINE STATISTICS