The Jabal Sayid project, a 50-50 joint venture with Saudi Arabian Mining Company (Ma'aden), commenced commercial production on July 1, 2016.
Jabal Sayid produced 30 million pounds of copper in 2016 (Barrick's share), at a cost of sales of $2.33 per pound, and all-in sustaining costs of $2.98 per pound.1 Barrick's share of proven and probable copper reserves as of December 31, 2016, was 627 million pounds2 (11.3 million tonnes, grading 2.51%).
Barrick's share of production in 2017 is anticipated to be 35-45 million pounds, at a cost of sales of $2.10-$2.80 per pound, and all-in sustaining costs of $2.10-$2.60 per pound.1