All amounts expressed in U.S. dollars
TORONTO, June 05, 2018 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) (“Barrick” or the “Company”) has published its annual Sustainability Report, which provides a detailed and transparent look at the Company’s environmental and social performance over the past year. To view the report, please visit www.barrick.com.
“At Barrick, our sustainability strategy emphasizes partnerships with host governments and communities, to transform their natural resources into sustainable benefits and mutual prosperity,” said Peter Sinclair, Chief Sustainability Officer. “Doing so helps us gain local trust and confidence, leave a positive legacy, keep our operations running smoothly, and protect our ability to grow. Our Sustainability Report, now in its 16th year, is an important way to update our partners on the progress we made in 2017, and what we aim to achieve in 2018 and beyond.”
Safety and Environment
The safety of people and protecting the environment are our top priorities. In support of this, we are integrating digital technology and innovation to manage our operations according to international standards and partner expectations.
- In 2017, Barrick’s total reportable injury frequency rate of 0.351 was the lowest in the Company’s history. This was tragically overshadowed by the deaths of Eulogio Gutierrez at the Hemlo mine in Canada, and Williams Garrido at the Pascua-Lama project in Chile. We continue to work to meet our goal of every person going home safe and healthy every day, with a redoubled focus on life-saving controls in 2018.
- In 2017, the Company developed a climate change strategy that includes a goal of reducing our greenhouse gas emissions by 30 percent by 2030 from our 2016 baseline.
Share the Benefits
Our business runs on long-term and trust-based partnerships, and sharing the benefits of our operations is an important way to facilitate this. That is why, at the invitation of governments and communities, we partner to transform resources into long-term value, through buying and hiring locally, investing in community priorities, and paying our fair share of taxes.
- In 2017, the Company contributed more than $5.1 billion to national economies in the countries where we operate. This included more than $350 million in goods and services purchased from small-scale suppliers living near our sites, and more than $1.1 billion in taxes and royalties paid to governments.
- In 2017, 97 percent of the people who work at our operations came from the communities and countries where we operate, with over 60 percent coming from the local communities closest to our mines.
Additional information on how we are sharing the benefits of mining with our partners is available in the data tables on our website.
Engage with Respect
Having the support and confidence of our host communities and governments is essential to our operational success. To build this trust, we believe in engaging transparently and openly with all of our partners.
- Six Barrick-operated sites run community water monitoring programs. We believe that inviting the community in, and making them part of the process, is the best way to build and sustain trust.
- Our sustainability performance is open to third-party scrutiny, including through the ISO 14001 process, International Cyanide Management Code audits, annual third-party human rights impact assessments, and independent assurance of the 2017 Sustainability Report.
Join our Sustainability Briefing
The Company will be hosting a Sustainability Briefing tomorrow at 10:00 am ET. To watch the webcast, please visit www.barrick.com.
Senior Vice President
Telephone: +1 416 307-7474
Senior Vice President
Telephone: +1 416 307-7414
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 “strategy”, “aim”, “goal”, “continue”, “believe”, “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 integrating digital technology and innovation.
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.
Barrick 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.