Argentina
Advancing.
Together.
Economic Investments Report | 2015
The Mining Context in Argentina
6%
National
exports
derived from
mining (2015)
Source: INDEC, KPMG
3.7B
$
Estimated
value of
mineral
exports in
Argentina
(2015)
15th
32%
Argentina’s
global ranking
in gold
production
and reserves
(2015)
Argentine gold
production
that comes
from the
Veladero mine
(2015)
Barrick in Argentina
Veladero
 Operational since 2005
 Produced 602,000 ounces of gold in
2015
 Accounted for 9.8% of Barrick’s total
gold production in 2015
 All-In Sustaining Costs = $946/ounce
 7.5 million ounces of gold in proven and
probable reserves
 3,123 employees and contractors
 ISO 14001 and Cyanide Code certified
Pascua-Lama
 Project, temporarily suspended
 Reserves of 15.4 million ounces of gold,
674 million ounces of silver
CHILE
ARGENTINA
Pascua-Lama
Veladero
La Serena
San
Juan
0 miles
100
San Juan
200
300
400
Barrick’s Economic Investment
in Argentina
In Argentina, where does this money go?
$490M
$656M
$110M
91% of Barrick’s spending
stayed in Argentina in 2015
($656M)
EXPENDITURES
In country
Out of country
Total in 2015
$53M
$1.9M
$656 M
$64 M
$720 M
Purchases
from Argentine
businesses
Employee
wages &
benefits
Note: Total in-county spend includes $1M in Royalties Paid to Third Parties and Land Use & Compensation Payments
Taxes, royalties
to the Argentine
government
Community
investments
Investing in Argentine Business
$490M
Purchases
from Argentine
businesses
86%
$3.8B
Percentage of Veladero suppliers
based in San Juan or other
Argentine provinces
Amount Barrick has
purchased from Argentine
businesses since 2010
Local, National and International Purchases, 2015
Barrick’s partnership with
Silver Wheaton, a silver
streaming company, and
local water users to develop
drip irrigation projects has
saved more than 140,000m3
of water and increased the
amount of land under
cultivation.
$63.81M
International Purchases
Local Purchases
$246.88M
$243.42M
National Purchases
Our Employees in Argentina
$110M
Employee
wages & benefits
1:3
0.32
Every job that a mine creates is
estimated to result in a further
three new jobs for the Argentine
economy
Barrick’s Total Reportable Injury
Frequency Rate in 2015, below
the company-wide average of
0.46 and half the rate in 2013
Source: KPMG
Local & National Employment, 2015
Barrick directly employed
3,123 employees and
contractors in 2015,
nearly all of whom are
from Argentina.
96.3%
78.3%
60.0%
Workforce from
Argentina
Workforce from San
Juan
Mine Management from
Argentina
Taxes and Royalties Paid in Argentina
$53M
Taxes, royalties
to the Argentine
government
80%
$1.6B
Percent of mineral royalties
collected by the San Juan
government that were paid by
Barrick
Amount Barrick has paid in
royalties & taxes since 2010
Source: Universidad Tecnologica Nacional
Taxes and Royalties, 2015
Following the
elimination of export
duties for mining in
2016, an estimated
$14.5 billion in mining
projects may be ready
to move forward in the
next several years.
Source: BNamericas
$5.32M
Government Royalties
Other Taxes
$20.52M
$27.10M
Income Taxes
Investing in Argentine Communities
$1.9M
Community
investments
$31M
100
Number of adult students that
gained a secondary diploma
through Barrick’s education
programs in 2015
Amount Barrick has
invested in community
programs since 2005
Community Investments, 2015
The Veladero mine is one
of the largest private
sector employers in the
province of San Juan,
creating opportunities for
thousands of Sanjuaninos.
$.05M
$.06M
$.08M
Economic Development
Infrastructure
$.41M
Education
$1.26M
Community Engagement
Arts, Culture & Sports
Argentina
Advancing.
Together.
Economic Investments Report | 2015