Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick”)
continues to strengthen its reputation as a trusted partner in its
host countries across the world and is actively working to build a
more sustainable mining sector fit to attract the next generation
of industry leaders, says President and Chief Executive Mark
Bristow in the company’s
2019 Sustainability
Report published today.
Bristow says Barrick’s commitment to social and
economic development, health and safety, human rights and the
environment is a key component of its business strategy.
“As a modern mining company, we recognize that
we must be a trusted long-term partner for our stakeholders to be
sustainable, and that we must be sustainable to be successful,” he
says.
Safety is a top priority for Barrick as the
company strives for a zero-harm workplace, as is environmental
management.
In 2019, Barrick operated with zero fatalities
and saw lost time injuries reduce in the Africa and Middle East
region. However, despite these improvements the overall total
reportable injury frequency rate1 for the group rose slightly,
impacted in part by the newly combined assets in Nevada.
Identifying gaps and progressing continuous improvement on safety
at all mines will be a key focus in 2020. The company also recorded
zero major environmental incidents in 2019 and exceeded its water
efficiency target of 70%. It has put in place a long-term strategy
to manage climate risk and protect biodiversity, and remains
vigilant in the monitoring of tailings storage facilities.
Bristow says the most significant contribution a
mining company can make to society is to create long-lasting
economic opportunities and notes that in 2019 Barrick distributed
more than $9.3 billion to host country governments, its workforce,
suppliers, host communities and beyond. It prioritizes local
recruitment and last year directly employed more than 21,800 of its
host country nationals (approximately 97% of employees) and spent
more than $4.4 billion on goods and services from businesses in
host countries.
“At the time of writing we are engaged in
managing the impacts of the coronavirus epidemic on our people and
our business. This includes the implementation of strict hygiene
protocols at our mine gates and across our sites. We are also
working closely with the clinics, hospital and medical
professionals in our communities to ensure that they are properly
resourced should an outbreak occur,” he says.
Also in the report, Barrick’s Sustainability
Executive Grant Beringer says that a sound environmental, social
and governance (“ESG”) strategy should be measurable.
“We believe in transparently measuring and
reporting our performance and to show this we have developed a
sustainability scorecard to rate our ESG performance over the past
year. The scorecard ranks against our peers, where applicable, and
against our own internal metrics and rolls that performance to an
aggregate score. We expect these indicators in the scorecard will
evolve over time, but we believe this is an important first step
for the company and the industry. We believe our grade this year
reflects the improvements in sustainability performance we have
made across the group in 2019 and our progress against many of our
key performance indicators. It also acknowledges that there is
still work to be done,” he says.
“We do not report data because it is popular, or
because others do so. We track our sustainability performance
because it helps us make better decisions, helps to de-risk
projects, discover new opportunities and deliver real value for our
business. Sustainable development is truly at the heart of our
business and our sustainability vision is embedded in every aspect
of what we do — we live it.”
The 2019 Sustainability Report is 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
Endnote 1
Total reportable injury frequency rate (“TRIFR”)
is a ratio calculated as follows: number of reportable injuries x
1,000,000 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 or incorporated by
reference in this press release, including any information as to
our sustainability strategy and vision, 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 “commitment”,
“vision”, “believe”, “expect”, “target”, “plan”, “objective”,
“aim”, “intend”, continue”, “potential”, “may”, “will” 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’s environmental, health and safety,
corporate social responsibility (including social and economic
development, water management, tailings and hazardous waste
management and community relations) and human rights programs,
policies and performance and related sustainability ratings and
scorecards; Barrick’s response to the Covid-19 pandemic and
initiatives to manage the impact of the virus on our people and our
business; Barrick’s climate change strategy and greenhouse gas
emission target; the estimated timing to achieve environmental,
social and energy reduction targets.
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: 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;
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 does or
may carry on business in the future; the risks of operating in
jurisdictions where infectious diseases present major health care
issues; risks associated with the Covid-19 pandemic and its impact
on operations or Barrick’s supply chain; risk of loss due to acts
of war, terrorism, sabotage and civil disturbances; litigation and
legal 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; increased costs and risks related to the
potential impact of climate change; risks associated with illegal
and artisanal mining; fluctuations in the spot and forward price of
gold, copper, or certain other commodities (such as silver, diesel
fuel, natural gas, and electricity); the speculative nature of
mineral exploration and development; changes in mineral production
performance, exploitation, and exploration successes; diminishing
quantities or grades of reserves; increased costs, delays,
suspensions, and technical challenges associated with the
construction of capital projects; operating or technical
difficulties in connection with mining or development activities,
including geotechnical challenges, and disruptions in the
maintenance or provision of required infrastructure and information
technology systems; failure to comply with environmental and health
and safety laws and regulations; timing of receipt of, or failure
to comply with, necessary permits and approvals; and our ability to
successfully close and integrate acquisitions or complete
divestitures. 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.
Barrick Gold Corporation disclaims 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.
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