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MATERIAL ACCOUNTING POLICY INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2021
Material accounting policy information [Abstract]  
Schedule of subsidiaries other than 100% owned Barrick subsidiaries
Outlined below is information related to our joint arrangements and entities other than 100% owned Barrick subsidiaries at December 31, 2021: 
Place of business Entity type
Economic interest1      
Method2
Nevada Gold Mines3,4
 United States     Subsidiary 61.5% Consolidation
North Mara3,5
 Tanzania Subsidiary 84% Consolidation
Bulyanhulu3,5
 Tanzania Subsidiary 84% Consolidation
Buzwagi3,5
 Tanzania Subsidiary 84% Consolidation
Loulo-Gounkoto3
 Mali Subsidiary 80% Consolidation
Tongon3
 Côte d’Ivoire Subsidiary 89.7% Consolidation
Pueblo Viejo3
 Dominican Republic Subsidiary 60% Consolidation
Norte Abierto Project Chile JO 50% Our share
Donlin Gold Project United States JO 50% Our share
Porgera Mine6,7
 Papua New Guinea JO 47.5% Our share
Veladero Argentina JO 50% Our share
Kibali8
 Democratic Republic of Congo JV 45% Equity Method
Jabal Sayid8
 Saudi Arabia JV 50% Equity Method
Zaldívar8
 Chile JV 50% Equity Method
1Unless otherwise noted, all of our JOs are funded by contributions made by the parties sharing joint control in proportion to their economic interest.
2For our JOs, we recognize our share of any assets, liabilities, revenues and expenses of the JO.
3We consolidate our interests in Carlin, Cortez, Turquoise Ridge, Phoenix, Long Canyon, North Mara, Bulyanhulu, Buzwagi, Loulo-Gounkoto, Tongon and Pueblo Viejo and record a non-controlling interest for the 38.5%, 38.5%, 38.5%, 38.5%, 38.5%, 16%, 16%, 16%, 20%, 10.3% and 40%, respectively, that we do not own.
4Included within our 61.5% interest in Carlin is Nevada Gold Mines’ (“NGM”) 60% interest in South Arturo. On September 7, 2021, NGM announced it had entered into an Exchange Agreement with i-80 Gold to acquire the 40% interest in South Arturo that NGM did not already own in exchange for the Lone Tree and Buffalo Mountain properties and infrastructure. The exchange transaction closed on October 14, 2021, bringing Barrick’s ownership of South Arturo to 61.5%.
5As part of the Framework Agreement effective January 1, 2020, the Government of Tanzania receives half of the economic benefits from the Tanzanian operations (Bulyanhulu, Buzwagi and North Mara) from taxes, royalties, clearing fees and participation in all cash distributions made by the mines, after the recoupment of capital investments. Earnings are recorded on a proportional basis based on our equity interests each period, with a true-up calculated and recorded annually to ensure the terms of the agreement are being fulfilled.
6We have joint control given that decisions about relevant activities require unanimous consent of the parties to the joint operation.
7We recognize our share of Porgera on a 47.5% interest basis, reflecting Barrick’s undisputed ownership position prior to April 24, 2020, and the ownership position Barrick is asserting in its legal proceedings in the Papua New Guinea (“PNG”) court. On August 16, 2019, the special mining lease (the “SML”) at Porgera was terminated and on April 24, 2020, the PNG government indicated that the SML would not be extended. On April 9, 2021, the PNG government and Barrick Nuigini Limited (“BNL”), the 95% owner and operator of the Porgera joint venture, agreed on a partnership for the future ownership and operation of the mine under a binding Framework Agreement. The Framework Agreement was replaced by the more detailed Commencement Agreement, which became effective on February 3, 2022. Under the terms of the binding Commencement Agreement, ownership of Porgera will be held in a new joint venture owned 51% by PNG stakeholders and 49% by BNL or an affiliate. BNL is jointly owned on a 50/50 basis by Barrick and Zijin Mining Group and therefore Barrick expects to hold a 24.5% interest in the Porgera mine following the implementation of the Commencement Agreement. BNL will retain operatorship of the mine. The parties are working towards the signing of definitive agreements, at which time, full mine recommencement work will begin. For additional information, see note 35.
8Barrick has commitments of $574 million relating to its interest in the joint ventures, including purchase obligations disclosed in note 17 and capital commitments disclosed in note 19.
Schedule of estimated useful lives of major asset categories
Estimated useful lives of Major Asset Categories
Buildings, plant and equipment
1 - 38 years
Underground mobile equipment
3 - 7 years
Light vehicles and other mobile equipment
1 - 7 years
Furniture, computer and office equipment
1 - 7 years