Welcome!

News Feed Item

Barrick 2016 Responsibility Report Now Available

All amounts expressed in U.S. dollars

TORONTO, ONTARIO -- (Marketwired) -- 05/19/17 -- Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) ("Barrick" or the "Company") has published its 2016 Responsibility Report, which provides a detailed and candid look at the Company's environmental and social performance. The full report is available on Barrick's website at www.barrick.com/responsibility.

"At Barrick, we partner with host governments and communities to transform their natural resources into sustainable benefits and mutual prosperity," said Peter Sinclair, Barrick's Chief Sustainability Officer. "Managing our social and environmental performance in a transparent, collaborative, and responsible manner is one of the most important ways that we can generate value for all of our partners for the long term. As we move forward, we will increasingly leverage new digital technologies and innovation to improve our social and environmental performance, and increase transparency with our partners."

Sharing the benefits of mining

Barrick extracts metals that belong to nations and their people. Consistent with our Sustainability Vision, we recognize that we will only succeed if we work with host community and government partners to transform these resources for mutual benefit.


--  In 2016, the Company contributed more than $5.2 billion to national
    economies in the countries where we operate. This included more than
    $220 million in goods and services from local suppliers, nearly $1.4
    billion in salaries and benefits to employees, and more than $1.1
    billion in taxes and royalties. In addition, the Company invested almost
    $22 million in local communities - including nearly $8 million in
    education initiatives and nearly 1,500 scholarships. 
--  In 2016, more than half of our employees came from local communities,
    and 97 percent of our people are citizens of the countries where we
    operate. 
--  In 2016, we created a program to make every employee at Barrick a
    shareholder. In doing so, we became a company of owners with the
    emotional and financial engagement that this implies. 
--  Additional information on how we are sharing the benefits of mining with
    our partners is available in data tables on our website. 

People and environment

For Barrick, mining done right means maximizing benefits while carefully managing the risks - both social and environmental - of our activities.


--  As our most valued asset, nothing is more important than the safety,
    health, and well-being of our people. In 2016, Barrick met its target
    for a total recordable injury frequency rate (TRIFR)(1) of 0.40 at our
    mines - the lowest TRIFR in the Company's history. This performance was
    tragically overshadowed by the death of Meckson Kakompe, a haul truck
    driver at our Lumwana mine in Zambia. Our goal remains the same: that
    all of our people go home safe and healthy every day. 
--  In 2016, the Company launched a cross-functional Climate Change
    Committee and we joined the Carbon Pricing Leadership Coalition - the
    first Canadian gold mining company to do so - which will expose us to
    new and innovative thinking from other industry leaders. 
--  The Company developed a new Water Management Framework in 2016. The
    cornerstone of the Framework is an enterprise-wide approach to water
    stewardship that rests on three pillars: assess, assure, and
    collaborate. 
--  Over the past two years, we've experienced three incidents involving
    processing solution at the Veladero mine's heap leach pad in spite of
    continuing efforts to implement additional monitoring and environmental
    protections. We are now working with local authorities to implement a
    plan to significantly strengthen and improve the mine's operating
    systems, including major modifications to the heap leach facility. 

Working respectfully with others

Relationships built on trust and respect are at the heart of our ability to operate successfully - relationships between our employees, with communities and governments, with industry peers, civil society, and others.


--  We are finding more ways to leverage digital technology to bring our
    operations and our host communities closer together. At our Pascua-Lama
    project, located on the border of Chile and Argentina, we now publicly
    share real-time water monitoring data from Chile's Estrecho River. In
    the future, we intend to make other real-time performance metrics
    publicly available, along with virtual site tours to bring information
    about our mining activities to as many people as possible. 
--  Our community environmental monitoring programs in five countries
    continue to bring Barrick employees together with local community
    members to monitor water quality, air quality, and other environmental
    factors. 
--  Our sustainability performance is open to third-party scrutiny,
    including through the ISO 14001 re-certification process, International
    Cyanide Management Code audits, annual third-party human rights impact
    assessments, and independent assurance of the 2016 Responsibility
    Report. 

While there is still work to be done, Barrick's efforts are being acknowledged. In 2016, the Company was listed in the Dow Jones Sustainability World Index for the ninth consecutive year. Barrick was also included in the Euronext Vigeo Index: World 120 in 2016. This index distinguishes the 120 most advanced companies from Europe, North America, and the Asia Pacific region for their environmental, social, and governance performance.

Barrick's complete 2016 Responsibility Report is available at www.barrick.com/responsibility.

(1) Total reportable incident frequency rate (TRIFR) is a ratio calculated as follows: number of reportable injuries x 200,000 hours divided by the total number of hours worked. Reportable injuries include fatalities, lost time injuries, restricted duty injuries, and medically treated injuries.

CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION

Certain information contained in this press release, including any information as to our strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. The words "plan", "objective", "intend", "goal", "continue", "will", "can", and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: (i) Barrick's environmental, health and safety, corporate social responsibility (including sustainable development, community relations and security matters), and human rights programs, policies and performance; (ii) the estimated timing to achieve environmental, social and energy reduction targets; and (iii) the potential impact and benefits of Barrick's digital transformation.

Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as at the date of this press release in light of management's experience and perception of current conditions and expected developments, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: failure to comply with environmental and health and safety laws and regulations; damage to the Company's reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Company's handling of environmental matters or dealings with community groups, whether true or not; risks associated with the implementation of Barrick's digital transformation initiative; timing of receipt of, or failure to comply with, necessary permits and approvals; changes in national and local government legislation, taxation, controls or regulations and/or changes in the administration of laws, policies and practices; risks associated with working with partners in jointly controlled assets; increased costs and physical risks, including extreme weather events and resource shortages, related to climate change. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks).

Many of these uncertainties can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick's ability to achieve the expectations set forth in the forward-looking statements contained in this press release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to ov...
SYS-CON Events announced today that Outscale will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outscale's technology makes an automated and adaptable Cloud available to businesses, supporting them in the most complex IT projects while controlling their operational aspects. You boost your IT infrastructure's reactivity, with request responses that only take a few seconds.
SYS-CON Events announced today that Progress, a global leader in application development, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Enterprises today are rapidly adopting the cloud, while continuing to retain business-critical/sensitive data inside the firewall. This is creating two separate data silos – one inside the firewall and the other outside the firewall. Cloud ISVs ofte...
SYS-CON Events announced today that Interoute has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Interoute is the owner operator of Europe's largest network and a global cloud services platform, which encompasses over 70,000 km of lit fiber, 15 data centers, 17 virtual data centers and 33 colocation centers, with connections to 195 additional partner data centers. Our full-service Unifie...
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
SYS-CON Events announced today that Enzu will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive ad...
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus intern...
SYS-CON Events announced today that Twistlock, the leading provider of cloud container security solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Twistlock is the industry's first enterprise security suite for container security. Twistlock's technology addresses risks on the host and within the application of the container, enabling enterprises to consistently enforce security policies, monitor...
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and valu...
This talk centers around how to automate best practices in a multi-/hybrid-cloud world based on our work with customers like GE, Discovery Communications and Fannie Mae. Today’s enterprises are reaping the benefits of cloud computing, but also discovering many risks and challenges. In the age of DevOps and the decentralization of IT, it’s easy to over-provision resources, forget that instances are running, or unintentionally expose vulnerabilities.
Everywhere we turn in our industry we can find strong opinions about the direction, type and nature of cloud’s impact on computing and business. Another word that is used in every context in our industry is “hybrid.” In his session at 20th Cloud Expo, Alvaro Gonzalez, Director of Technical, Partner and Field Marketing at Peak 10, will use a combination of a few conceptual props and some research recently commissioned by Peak 10 to offer a real-world consideration of how the various categories of...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
Detecting internal user threats in the Big Data eco-system is challenging and cumbersome. Many organizations monitor internal usage of the Big Data eco-system using a set of alerts. This is not a scalable process given the increase in the number of alerts with the accelerating growth in data volume and user base. Organizations are increasingly leveraging machine learning to monitor only those data elements that are sensitive and critical, autonomously establish monitoring policies, and to detect...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.