http://www.marketwatch.com/story/barrick-announces-second-quarter-2012-results-2012-07-26-7173219

PROJECTS IN FEASIBILITY AND PERMITTING

Barrick is evaluating its next tier of projects. Cerro Casale and Donlin Gold do not currently meet our investment criteria, primarily due to their large initial capital investments, and under our disciplined capital allocation framework we would not make a decision to construct them at this time. However, they contain large, long life mineral resources in stable jurisdictions, have significant leverage to the price of gold, and therefore represent valuable long-term opportunities for the company. We will maintain and enhance the option value of these projects by advancing permitting activities at reasonable costs which, in the case of Donlin Gold, will take a number of years. During this time, we will monitor the attractiveness of these projects and evaluate alternatives to improve their economics. This will provide the company with the option to make construction decisions in the future should investment conditions warrant.

Exploration

In Nevada, over 50 drill rigs are currently operating, 12 of which are located at Goldrush. Overall, the robustness and continuity of the Goldrush system continues to be demonstrated. The limits of the entire system still remain open in multiple directions. Based on results to date, a significant increase is expected by 2012 year end to the already defined indicated resource of 1.3 million ounces and inferred resource of 5.7 million ounces(7).

Copper

The Zaldivar copper mine in Chile produced 73 million pounds at C1 cash costs of $1.56 per pound in the second quarter. The Lumwana mine in Zambia produced 36 million pounds of copper at C1 cash costs of $3.53 per pound.