Lagunas Norte

Beginning as the largest greenfields discovery for the gold industry in the last decade, Lagunas Norte is now one of the few gold mines in the world with the capability to produce over one million ounces in a year, and is one of Barrick’s lowest cost operations. The mine 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.

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In 2007, Lagunas Norte produced 1.1 million ounces of gold at total cash costs of $105 per ounce¹, exceeding expectations. Proven and probable mineral reserves as of December 31, 2007 are estimated at 8.7 million ounces of gold².