INVESTMENTS

Equity Accounting Method Investment Continuity



	Kabanga			Jabal Sayid		Zaldívar			GNX			Total
At January 1, 2017		$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
Equity pick-up (loss) from equity investees	—			39		14			(7		)	46
Funds invested	—			—		—			5			5
Impairment charges	(30		)	—		—			—			(30		)
At December 31, 2018		$—			$245		$989			$—			$1,234
Publicly traded	No			No		No			No



Summarized Equity Investee Financial Information
	Jabal Sayid						Zaldívar
For the years ended December 31	2018			2017			2018			2017
Revenue		$296			$214			$599			$649
Cost of sales (excluding depreciation)	158			116			404			375
Depreciation	39			33			118			111
Finance expense	2			3			—			1
Other expense (income)	9			2			25			—
Income from continuing operations before tax		$88			$60			$52			$162
Income tax expense	(10		)	(8		)	(24		)	(40		)
Income from continuing operations after tax		$78			$52			$28			$122
Total comprehensive income		$78			$52			$28			$122
Summarized Balance Sheet
	Jabal Sayid						Zaldívar
For the years ended December 31	2018			2017			2018			2017
Cash and equivalents		$128			$50			$129			$72
Other current assets¹	68			70			602			563
Total current assets		$196			$120			$731			$635
Non-current assets	482			485			1,927			1,582
Total assets		$678			$605			$2,658			$2,217
Current financial liabilities (excluding trade, other payables & provisions)		$48			$12			$18			$19
Other current liabilities	41			35			85			110
Total current liabilities		$89			$47			$103			$129
Non-current financial liabilities (excluding trade, other payables & provisions)	331			379			12			20
Other non-current liabilities	14			13			546			99
Total non-current liabilities		$345			$392			$558			$119
Total liabilities		$434			$439			$661			$248
Net assets		$244			$166			$1,997			$1,969


¹	Zaldívar other current assets include inventory of $533 million (2017: $451 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		$166		$1,969
Income for the period	78		28
Dividend	—		—
Closing net assets, December 31		$244		$1,997
Barrick's share of net assets (50%)	122		999
Equity earnings adjustment	—		(10		)
Goodwill recognition	123		—
Carrying value		$245		$989


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).