Lagunas Norte
In addition to being one of the largest greenfields gold discoveries in the last decade, Lagunas Norte is also one of the few gold mines in the world to produce over one million ounces a year. The mine is located on the Alto Chicama property in north-central Peru, 140 kilometres east of the coastal city of Trujillo, and 175 kilometres 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 metres above sea level. The Lagunas Norte mine is an open-pit, crush, valley-fill heap leach operation.
Lagunas Norte is Barrick’s lowest cost operation and in 2008, the mine produced 1.2 million ounces of gold at total cash costs of $125 per ounce1, exceeding expectations. Proven and probable mineral reserves as of December 31, 2008 are estimated at 8.9 million ounces of gold2.