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Barrick Raises US$50 Million in Debt Securities for Lagunas Norte Project in Peru.


TORONTO -- All amounts in United States dollars

Barrick Gold Corporation (NYSE:ABX ABX - Abstracting
ABX - Airborne Express
ABX - Albury, New South Wales, Australia - Albury (Airport Code)
ABX - Antibiotics
ABX - Automatic Branch Exchange
ABx - Non-Antibiotics
)(TSX:ABX)(LSE:BGD BGD - Air Bangladesh (ICAO code)
BGD - Bangladesh (ISO Country code)
BGD - Belgrade/Beograd
BGD - Black Gangster Disciple (gangs)
BGD - Brassica Genome Database
BGD - Brigade
)(SWX:ABX)(BOURSE
Bourse
Any European stock exchange.

Notes:
This French term can be used to refer to any European exchange however, it is most often used in reference to the Paris Stock Exchange.
See also: Exchange, Market
:ABX) announced today that its wholly owned subsidiary, Minera Barrick Misquichilca S.A. ("MBM MBM - Magnetic Bubble Memory
MBM - Manual Berthing Mechanism
MBM - Market Based Management
MBM - Market Basket Measure
MBM - Market-By-Market
MBM - Married Black Male
MBM - Marusyk, Miller & Swain (intellectual property law firm; Canada)
MBM - Meat and Bone Meal (feed)
MBM - Meat Beat Manifesto (band)
MBM - Microbial Benthos Method
MBM - Mission-Based Management
MBM - Motherboard Monitor
MBM - Multi-Buoy Mooring
"), has successfully completed the issuance of $50 million of debt securities in the Peruvian capital markets. The net proceeds from this offering will be used to partially fund the construction of Barrick's Lagunas Norte Project located in the Alto Chicama district.

Lagunas Norte is expected to be the second of Barrick's new generation of mines that will contribute to the targeted 40 percent increase in its production profile by 2007. (Tulawaka in Tanzania commenced production on March 15, 2005.) Lagunas Norte is expected to commence operations in the third quarter 2005 and produce 545,000 - 550,000 ounces of gold this year at a cash cost of $110 - $120 per ounce.

"Lagunas Norte will be Barrick's second Peruvian mine, and capitalizes on our experience and success at the Pierina Mine," said Igor Gonzales, Barrick's Regional Vice President, Peru. "We are pleased that the debt issue was so well received and oversubscribed by Peruvian investors."

The bonds are due in 2013, bear interest on a floating rate basis at six-month Libor +1.72%, trade on the Lima Stock Exchange
Lima Stock Exchange
Peru's major securities market.
 and are solely the obligation of MBM. The sale of the bonds is under MBM's shelf prospectus that allows for the issuance of debt securities in an aggregate amount up to U.S.$150 million.

Barrick is building a new generation of mines around the globe and has the lowest total cash costs among the major gold producers. Its vision is to be the world's best gold company by finding, developing and producing quality reserves in a profitable and socially responsible manner. The Company's shares are traded on the Toronto, New York, London and Swiss stock exchanges and the Paris Bourse
Paris Bourse
National stock market of France.
.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Barrick Gold Corporation (PARIS:ABX) (NYSE:ABX) (TSX:ABX) (Swiss:ABX) (LSE:BGD)
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1CANA
Date:Apr 15, 2005
Words:378
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