Barrick Gold Company is an efficient neighbour, a valued stakeholder accomplice and a accountable steward of the setting. It believes these elements are the essential constructing blocks for a contemporary mining firm, as vital in their very own means as geotechnical experience and free money circulate.
The Barrick method to local weather change is pushed by site-specific methods primarily based on science and operational realities, fairly than wishful considering. It’s continually reviewed within the gentle of technological advances. Identification and realisation of the ensuing alternatives have enabled the corporate to replace its 2030 emissions discount goal from a minimum of 10 p.c to 30 p.c versus its 2018 baseline. Barrick’s goal is web zero greenhouse fuel (GHG) emissions by 2050.
The present GHG discount roadmap consists of vitality effectivity measures throughout the group with bold plans for the usage of extra solar energy and improvements such because the battery expertise used to reinforce its hydropower stations within the Democratic Republic of Congo.
Barrick’s environmental technique has paid substantial dividends, recording zero Class 1 environmental incidents for a 3rd consecutive yr, decreasing Class 2 incidents by 38 p.c, and exceeding its goal of reusing or recycling a minimum of 75 p.c of its water in 2020.
With the Covid-19 pandemic driving extra folks beneath the poverty line, Barrick is maximising the social and financial advantages its mines deliver to host international locations and communities.
Barrick’s immediate and efficient response to Covid-19 largely protected its enterprise and folks from the impression of the virus and offered an extra probability for the corporate to reveal its dedication to partnership. Barrick has spent greater than $30m on Covid-19-related neighborhood help and has pay as you go greater than $300m thus far in taxes and royalties to ease the pandemic’s financial strain on some host international locations.
The corporate has established Neighborhood Growth Committees (CDCs) in any respect its operational websites, which put communities on the coronary heart of the decision-making course of in relation to neighborhood funding. There was a Barrick funding of greater than $26m in such tasks throughout 2020.
Barrick Gold Company is a sector-leading gold and copper producer. Its shares commerce on the New York Inventory Trade below the image GOLD and on the Toronto Inventory Trade below the image ABX.
The corporate owns and operates six Tier One gold mines, belongings with the reserve potential to ship a minimal 10-year life, annual manufacturing of a minimum of 500,000 ounces of gold and complete money prices per ounce which can be within the decrease half of the business’s value profile. They’re Cortez, Carlin and Turquoise Ridge in Nevada; Loulo-Gounkoto in Mali; Kibali within the Democratic Republic of Congo; and Pueblo Viejo within the Dominican Republic. Nevada Gold Mines, a three way partnership with Newmont, majority owned and operated by Barrick, is the world’s largest gold mining complicated. Barrick has gold and copper mines and tasks in 17 international locations. Its diversified portfolio spans the world’s most prolific gold districts and is concentrated on high-margin, long-life belongings.