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NON-CONTROLLING INTERESTS (Tables) | 12 Months Ended
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Dec. 31, 2019
Interests In Other Entities [Abstract] |
Non-controlling interests | Outlined below is information related to our joint arrangements and entities other than 100% owned Barrick subsidiaries at December 31, 2019:
| Place of business | Entity type | Economic interest 1 | Method 2
Nevada Gold Mines 3,4,5,6,7 | United States | Subsidiary | 61.5% | Consolidation
Loulo-Gounkoto 3 | Mali | Subsidiary | 80% | Consolidation
Tongon 3 | Côte d’Ivoire | Subsidiary | 89.7% | Consolidation
Pueblo Viejo 3 | Dominican Republic | Subsidiary | 60% | Consolidation
Norte Abierto Project | Chile | JO | 50% | Our share
Donlin Gold Project | United States | JO | 50% | Our share
Porgera Mine 8 | Papua New Guinea | JO | 47.5% | Our share
Veladero | Argentina | JO | 50% | Our share
Kibali 9 | Democratic Republic of Congo | JV | 45% | Equity Method
Morila 9 | Mali | JV | 40% | Equity Method
GNX 9,10 | Chile | JV | 50% | Equity Method
Jabal Sayid 9 | Saudi Arabia | JV | 50% | Equity Method
Kabanga Project 9,10 | Tanzania | JV | 50% | Equity Method
Zaldívar 9 | Chile | JV | 50% | Equity Method
1 | Unless otherwise noted, all of our joint arrangements are funded by contributions made by the parties sharing joint control in proportion to their economic interest.
2 | For our JOs, we recognize our share of any assets, liabilities, revenues and expenses of the JO.
3 | We consolidate our interests in Carlin, Cortez, Turquoise Ridge, Phoenix, Long Canyon, Loulo-Gounkoto, Tongon and Pueblo Viejo and record a non-controlling interest for the 38.5%, 38.5%, 38.5%, 38.5%, 38.5%, 20%, 10.3% and 40%, respectively, that we do not own. On September 17, 2019, Barrick acquired all of the shares of Acacia it did not own, bringing our ownership from 63.9% to 100%. When the Government of Tanzania’s 16% free-carried interest is made effective, which is expected to be as of January 1, 2020, our ownership will be brought down to 84%.
4 | On July 1, 2019, Barrick’s Goldstrike (including 60% of South Arturo) and Newmont’s Carlin were contributed to Nevada Gold Mines, a joint venture with Newmont, and are now referred to as Carlin. This brought our ownership to 61.5% of Carlin (including 36.9% of South Arturo).
5 | On July 1, 2019, Cortez was contributed to Nevada Gold Mines bringing our ownership down to 61.5%.
6 | Barrick owned 75% of Turquoise Ridge through to the end of the second quarter of 2019, with our joint venture partner, Newmont, owning the remaining 25%. Turquoise Ridge was proportionately consolidated on the basis that the joint venture partners that have joint control have rights to the assets and obligations for the liabilities relating to the arrangement. On July 1, 2019, Barrick’s 75% interest in Turquoise Ridge and Newmont’s Twin Creeks and 25% interest in Turquoise Ridge were contributed to Nevada Gold Mines. This brought our ownership to 61.5% of Turquoise Ridge and Twin Creeks, now referred to as Turquoise Ridge.
7 | Phoenix and Long Canyon were acquired as a result of the formation of Nevada Gold Mines on July 1, 2019, resulting in an ownership of 61.5%.
8 | We have joint control given that decisions about relevant activities require unanimous consent of the parties to the joint operation.
9 | Barrick has commitments of $324 million relating to its interest in the joint ventures.
10 | These JVs are early stage exploration projects and, as such, do not have any significant assets, liabilities, income, contractual commitments or contingencies.
| Nevada Gold Mines | Pueblo Viejo | Loulo-Gounkoto | Tongon
| As at December 31, 2019 |  | As at December 31, 2018 |  | As at December 31, 2019 |  | As at December 31, 2018 |  | As at December 31, 2019 |  | As at December 31, 2018 |  | As at December 31, 2019 |  | As at December 31, 2018 |
Current assets |  | $10,977 |  |  | $— |  |  | $500 |  |  | $520 |  |  | $406 |  |  | $— |  |  | $158 |  |  | $— |
Non-current assets | 15,909 |  | — |  | 4,303 |  | 3,469 |  | 4,662 |  | — |  | 424 |  | — |
Total assets |  | $26,886 |  |  | $— |  |  | $4,803 |  |  | $3,989 |  |  | $5,068 |  |  | $— |  |  | $582 |  |  | $— |
Current liabilities | 466 |  | — |  | 428 |  | 720 |  | 234 |  | — |  | 59 |  | — |
Non-current liabilities | 1,217 |  | — |  | 932 |  | 402 |  | 634 |  | — |  | 106 |  | — |
Total liabilities |  | $1,683 |  |  | $— |  |  | $1,360 |  |  | $1,122 |  |  | $868 |  |  | $— |  |  | $165 |  |  | $— |
| Nevada Gold Mines 1 | Pueblo Viejo | Loulo-Gounkoto | Tongon
For the years ended December 31 | 2019 |  | 2018 |  | 2019 |  | 2018 |  | 2019 |  | 2018 |  | 2019 |  | 2018 |
Revenue |  | $2,707 |  |  | $— |  |  | $1,409 |  |  | $1,333 |  |  | $1,007 |  |  | $— |  |  | $384 |  |  | $— |
Income (loss) from continuing operations after tax | 739 |  | — |  | 708 |  | 206 |  | 158 |  | — |  | (29 | ) | — |
Other comprehensive income (loss) | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total comprehensive income (loss) |  | $739 |  |  | $— |  |  | $708 |  |  | $206 |  |  | $158 |  |  | $— |  |  | ($29 | ) |  | $— |
Dividends paid to NCI |  | $236 |  |  | $— |  |  | $158 |  |  | $— |  |  | $16 |  |  | $— |  |  | $11 |  |  | $— |
Summarized Statements of Cash Flows |  |  |  |  |  |  |  |
| Nevada Gold Mines 1 | Pueblo Viejo | Loulo-Gounkoto | Tongon
For the years ended December 31 | 2019 |  | 2018 |  | 2019 |  | 2018 |  | 2019 |  | 2018 |  | 2019 |  | 2018 |
Net cash provided by (used in) operating activities |  | $1,296 |  |  | $— |  |  | $504 |  |  | $272 |  |  | $259 |  |  | $— |  |  | $129 |  |  | $— |
Net cash used in investing activities | (539 | ) | — |  | (107 | ) | (144 | ) | (130 | ) | — |  | 61 |  | — |
Net cash used in financing activities | (379 | ) | — |  | (397 | ) | (108 | ) | (80 | ) | — |  | (107 | ) | — |
Net increase (decrease) in cash and cash equivalents |  | $378 |  |  | $— |  |  | $— |  |  | $20 |  |  | $49 |  |  | $— |  |  | $83 |  |  | $— |
| Nevada Gold Mines |  | Pueblo Viejo |  | Acacia |  | Loulo-Gounkoto |  | Tongon |  | Other |  | Total |
NCI in subsidiary at December 31, 2019 | 38.5 | % | 40 | % | — | % | 20 | % | 10.3 | % | Various |  |
At January 1, 2018 |  | $— |  |  | $1,290 |  |  | $480 |  |  | $— |  |  | $— |  |  | $11 |  |  | $1,781 |
Share of income (loss) | — |  | 89 |  | 22 |  | — |  | — |  | (1 | ) | 110 |
Cash contributed | — |  | — |  | — |  | — |  | — |  | 24 |  | 24 |
Disbursements | — |  | (108 | ) | — |  | — |  | — |  | (15 | ) | (123 | )
At December 31, 2018 |  | $— |  |  | $1,271 |  |  | $502 |  |  | $— |  |  | $— |  |  | $19 |  |  | $1,792 |
Acquisitions 1 | 5,910 |  | — |  | — |  | 887 |  | 61 |  | (76 | ) | 6,782 |
Share of income (loss) | 275 |  | 311 |  | (7 | ) | 30 |  | (3 | ) | (1 | ) | 605 |
Cash contributed | 90 |  | — |  | — |  | — |  | — |  | 50 |  | 140 |
Decrease in non-controlling interest 1 | — |  | — |  | (495 | ) | — |  | — |  |  |  | (495 | )
Disbursements | (236 | ) | (158 | ) | — |  | (16 | ) | (11 | ) | (8 | ) | (429 | )
At December 31, 2019 |  | $6,039 |  |  | $1,424 |  |  | $— |  |  | $901 |  |  | $47 |  |  | ($16 | ) |  | $8,395 |

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