INVESTMENTS

Equity Accounting Method Investment Continuity



	Kabanga			Jabal Sayid		Zaldívar			GNX			Total
At January 1, 2016		$30			$178		$990			$1			$1,199
Equity pick-up (loss) from equity investees	(1		)	2		27			(8		)	20
Funds invested	1			—		—			8			9
Working capital adjustments	—			—		6			—			6
Impairment charges	—			—		(49		)	—			(49		)
At December 31, 2016		$30			$180		$974			$1			$1,185
Equity pick-up (loss) from equity investees	(1		)	26		61			(10		)	76
Funds invested	1			—		—			11			12
Dividend	—			—		(60		)	—			(60		)
At December 31, 2017		$30			$206		$975			$2			$1,213
Publicly traded	No			No		No			No



Summarized Equity Investee Financial Information
	Jabal Sayid					Zaldívar
For the years ended December 31	2017			2016		2017			2016
Revenue		$214			$80		$649			$518
Cost of sales (excluding depreciation)	116			65		375			354
Depreciation	33			12		111			87
Finance expense	3			—		1			2
Other expense (income)	2			—		—			(5		)
Income from continuing operations before tax		$60			$3		$162			$80
Income tax expense	(8		)	—		(40		)	(25		)
Income from continuing operations after tax		$52			$3		$122			$55
Total comprehensive income		$52			$3		$122			$55
Summarized Balance Sheet
	Jabal Sayid					Zaldívar
For the years ended December 31	2017			2016		2017			2016
Cash and equivalents		$50			$14		$72			$102
Other current assets¹	70			56		563			482
Total current assets		$120			$70		$635			$584
Non-current assets	485			473		1,582			1,603
Total assets		$605			$543		$2,217			$2,187
Current financial liabilities (excluding trade, other payables & provisions)		$12			$—		$19			$23
Other current liabilities	35			27		110			84
Total current liabilities		$47			$27		$129			$107
Non-current financial liabilities (excluding trade, other payables & provisions)	379			391		20			33
Other non-current liabilities	13			11		99			80
Total non-current liabilities		$392			$402		$119			$113
Total liabilities		$439			$429		$248			$220
Net assets		$166			$114		$1,969			$1,967


¹	Zaldívar other current assets include inventory of $451 million (2016: $429 million).

The information above reflects the amounts presented in the financial information of the joint venture adjusted for differences between IFRS and local GAAP.



Reconciliation of Summarized Financial Information to Carrying Value
	Jabal Sayid¹		Zaldívar
Opening net assets		$114		$1,967
Income for the period	52		122
Dividend	—		(120		)
Closing net assets, December 31		$166		$1,969
Barrick's share of net assets (50%)	83		985
Equity earnings adjustment	—		(10		)
Goodwill recognition	123		—
Carrying value		$206		$975


¹	A $165 million non-interest bearing shareholder loan due from the Jabal Sayid JV is presented as part of Other Assets (see note 22).