Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) is committed to being
a good neighbour, a responsible corporate citizen and a
conscientious caretaker of the environment. We believe
these traits are the very foundation on which to build a modern
mining company and are as important as geotechnical expertise and
free cash flow, president and chief executive Mark Bristow says in
the company’s
2020 Sustainability Report,
published today.
Bristow said Barrick’s approach to climate risk was
led by site-specific strategies based on science and operational
realities, rather than hopeful aspirations, and it was constantly
reviewed in the light of technological advances. Identification and
realization of the opportunities these offered enabled the company
to update its 2030 emissions reduction target from 10% to 30%
against its 2018 baseline. Barrick’s ultimate aim is to achieve net
zero emissions by 2050.
In 2020, Barrick’s environmental strategy paid real
dividends, from improved water management in Tanzania to innovative
rehabilitation plans in North America. At the group level, Barrick
recorded zero Class 1 environmental incidents for the third
consecutive year, reduced Class 2 incidents by 38% year-on-year and
exceeded its target of reusing or recycling at least 75% of its
water.1
“Our current roadmap includes energy efficiency
measures across the group and ambitious plans for more solar power
in Mali and Nevada, and the conversion of a power station in Nevada
from coal to natural gas. It also details our achievements to date
with new battery technology installed to augment our hydropower
stations in the Democratic Republic of Congo, and the conversion of
our power station in the Dominican Republic from heavy fuel oil to
cleaner energy sources,” he said.
Bristow says, with the Covid-19 pandemic driving
more people below the poverty line, Barrick is maximizing the
social and economic benefits its mines inject into their host
countries and communities. In 2020, the company established
community-led development committees at all its operational sites.
These committees currently oversee an investment of more than $26
million in projects ranging from digital education programs in
Nevada to water treatment initiatives in Argentina to the ongoing
funding of the Paiam hospital in Papua New Guinea.
Barrick’s prompt and effective response to Covid-19
largely protected its business and people from the impact of the
virus – the mines in Nevada as well as the Africa and Middle East
region did not lose a single shift to the pandemic – and it also
provided a further opportunity for the company to demonstrate its
commitment to partnerships. Barrick spent more than $30 million on
Covid-19-related community support measures in 2020 and has prepaid
more than $300 million to date in taxes and royalties to ease the
pandemic’s economic pressure on some host countries.
The company’s 2019 Sustainability Report was the
first in the industry to publish a detailed ESG scorecard, based on
key metrics and rating Barrick against its peers. The scorecard,
says group sustainability executive Grant Beringer, provides the
market with a transparent overview of the company’s performance and
also drives improvement at site level.
“In 2020, there was a marked improvement against
most metrics and we improved our overall score. The fact that we
still gave ourselves a B grade shows we realize that we still have
some way to go and that there is no room for complacency. In
keeping with our target of continued improvement, this year’s
scorecard includes additional metrics which will be used to assess
our 2021 performance,” he said.
Barrick’s 2020 Sustainability Report is now
available at www.barrick.com/sustainability.
Enquiries:
Mark BristowPresident and CEO+1
647 205 7694+ 44 788 071 1386
Kathy du PlessisInvestor and Media
Relations+44 20 7557 7738Email: barrick@dpapr.com
Website: www.barrick.com
Endnotes
- Class 1 - High Significance is defined
as an incident that causes significant negative impacts on human
health or the environment or an incident that extends onto publicly
accessible land and has the potential to cause significant adverse
impact to surrounding communities, livestock or wildlife.Class 2 -
Medium Significance is defined as an incident that has the
potential to cause negative impact on human health or the
environment but is reasonably anticipated to result in only
localized and short-term environmental or community impact
requiring minor remediation.
Cautionary Statement on Forward-Looking
Information
Certain information contained or incorporated by
reference 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 “committed to”, “belief”,
“strategies”, “opportunities”, “target”, “aim”, “roadmap”, “plans”,
“maximizing”, “improvement”, “may”, “will”, “can”, “could”, “would”
and similar expressions identify forward-looking statements. In
particular, this press release contains forward-looking statements
including, without limitation, with respect to: Barrick’s
sustainability strategy and vision; Barrick climate strategy and
approach to managing climate risks; Barrick’s greenhouse gas
emission reduction targets and ultimate aim to achieve net zero
emissions by 2050; Barrick’s environmental, health and safety,
corporate social responsibility and human rights programs, policies
and performance; initiatives undertaken by Barrick to mitigate the
impact of Covid-19 on our operations, local communities and other
stakeholders; and Barrick’s Sustainability Scorecard and 2021
sustainability performance.
Forward-looking statements are necessarily based
upon a number of estimates and assumptions including material
estimates and assumptions related to the factors set forth below
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;
non-renewal of key licences by governmental authorities; changes in
national and local government legislation, taxation, controls or
regulations and/or changes in the administration of laws, policies
and practices; expropriation or nationalization of property and
political or economic developments in Canada, the United States and
other jurisdictions in which the Company or its affiliates do or
may carry on business in the future; timing of receipt of, or
failure to comply with, necessary permits and approvals; lack of
certainty with respect to foreign legal systems, corruption and
other factors that are inconsistent with the rule of law; risks
associated with illegal and artisanal mining; risks associated with
new diseases, epidemics and pandemics, including the effects and
potential effects of the global Covid-19 pandemic; 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; risk of loss due to acts of
war, terrorism, sabotage and civil disturbances; litigation and
administrative proceedings; contests over title to properties,
particularly title to undeveloped properties, or over access to
water, power and other required infrastructure; risks associated
with working with partners in jointly controlled assets; employee
relations including loss of key employees; and increased costs and
physical risks, including extreme weather events and resource
shortages, related to climate change. Barrick also cautions that
its 2021 guidance may be impacted by the unprecedented business and
social disruption caused by the spread of Covid-19. 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 and contingencies 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.
We disclaim any intention or obligation to update
or revise any forward-looking statements whether as a result of new
information, future events or otherwise, except as required by
applicable law.
Barrick Gold (NYSE:GOLD)
Historical Stock Chart
From Apr 2024 to May 2024
Barrick Gold (NYSE:GOLD)
Historical Stock Chart
From May 2023 to May 2024