our-approach
Our Approach to Responsible Mining

Barrick is committed to building, operating, and closing our mines in a safe and responsible manner.

We make this commitment with a firm belief that our mining activities can create sustained progress and prosperity when we manage our social, economic, and environmental impacts, with our stakeholders’ interests always in mind.

To do this, we put a priority on creating mutually beneficial and long-term partnerships—between our own people, with the countries and communities where we operate, and with our shareholders.

When we get this right, we earn the trust of our partners and maintain our license to operate throughout the life of a mine. In turn, our mining activities are in the best position to create mutual and lasting prosperity for all of our partners, so that we can all advance, together.

Strategy

Sustainability Strategy

In early 2017, Barrick introduced a new sustainability vision in support of this commitment:

We partner with host governments and communities to transform their natural resources into sustainable benefits and mutual prosperity.

We aim to be a welcome and trusted partner of host governments and communities, the most sought-after employer, and the natural choice for long-term investors.

This vision stems from our corporate Vision and Values, particularly our values of Partnership and Responsibility and Accountability. It intentionally challenges preconceived ideas about mining – that, by definition, it is an industry that only extracts value. Instead, our sustainability vision compels us to be a company that seeks out opportunities to add value and create prosperity for our employees, our government and community partners, and our shareholders.

Three core principles help put this vision into practice:

  1. Put people and the environment first in everything we do. We must manage and mitigate the impacts—both social and environmental—of our activities.
  2. Ensure our partners share in the benefits of mining. We do this through local hiring and contracting, investing in community priorities, and paying our fair share of taxes.
  3. Engage respectfully with others. We treat our partners as we would expect to be treated, and involve people in the decisions that will affect them.

Delivering on this vision is just good business sense. When we get it right—and do it well—we earn the trust of our host communities and governments, employees, and others, and are in the best position to create value for all of our partners for the long term.

Governance

Responsible Mining Governance

Our commitment to responsible mining is supported by a robust governance framework, setting out the Company’s approach to and expectations for employees, suppliers, and contractors in the conduct of their daily work.

At the core of this framework is the Code of Business Conduct and Ethics and supporting management systems, programs, and policies. These provide a common standard by which we expect all sites to operate, from community, health, environmental, safety, security, human rights, and ethical perspectives, and help bring Barrick’s Vision and Values to life.

The Code of Business Conduct and Ethics and its supporting systems and programs are complemented by Board- and executive-level oversight, as well as expert advice from our external CSR Advisory Board, to help keep us true to our commitment to mining in a responsible manner.

Barrick’s Corporate Responsibility Committee assists the Board of Directors in overseeing the Company’s environmental, safety and health, corporate social responsibility, and human rights programs, policies and performance.
Read its mandate.

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Non-Managed Operations

Non-Managed Operations

Barrick holds interests in a number of companies and joint ventures (JVs) which it does not operate. As part of our commitment to partnership, we believe in working with our JV partners to foster, support, and encourage sustainable business practices. While our programs and policies do not formally extend to those sites and operations, we seek to influence management action, for example, through contractual rights and Board membership. That may mean conducting or advocating for audits and assessments, pressing for compensation structures to reflect our priorities, seeking reports on incidents, engaging over aspects of JV’s human rights programs, seeking regular progress reports, asking for details on trainings and stakeholder engagements, and other efforts.

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Ethics

Ethical Business Conduct

With thousands of employees, suppliers, and contractors working in highly diverse countries, our possibility of exposure to potential incidents of bribery and corruption is real, which can present risks to companies like ours that operate around the globe.

Each year, Barrick conducts a global risk assessment of 100% of Barrick-operated sites for risks related to corruption.

Not only is corruption contrary to our values of integrity and responsibility, it also erodes the social fabric of the communities where we operate.

At Barrick, we insist that all of our interactions are conducted in an ethical, honest and accountable manner and in accordance with all applicable laws and regulations. We have a Code of Business Conduct and Ethics, which identifies our obligations, as a company and as individuals, directors, officers, employees, and contractors, to comply with all applicable laws and to avoid and report bribery and corruption wherever we work.

Barrick also has a global Anti-Corruption Policy and Compliance Program that help our conduct adhere to Canada’s Corruption of Foreign Public Officials Act, the U.S. Foreign Corrupt Practices Act, and applicable anti-bribery and anti-corruption laws in other countries where we operate.

1,400 employees received live anti-corruption training; an additional 3,000 employees received online training in 2016.

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Transparency

Transparency & Reporting

At Barrick, we believe that transparency—whether through disclosing payments to governments, reporting on our energy and water use, voluntarily opening ourselves to third-party scrutiny, or otherwise—is essential to being an honest and trusted partner to the communities and governments where we operate.

Barrick was the first Canadian mining company to be a signatory to the Extractive Industries Transparency Initiative. Since 2006, we have voluntarily reported detailed country-by-country information, including environmental and social data and the taxes and royalties we have paid to governments around the world. In 2017, Barrick will be publishing the payments it makes to governments in accordance with Canada’s Extractives Sector Transparency Measures Act. We also participate in the annual CDP Climate Change and Water Disclosure process, providing investors and other interested stakeholders with information on our water and energy use and greenhouse gas emission data.

We also open our social and environmental performance to third-party scrutiny, including through the ISO 14001 re-certification process, International Cyanide Management Code audits, annual human rights impact assessments, and an annual assurance against the International Council on Mining and Metal’s Sustainable Development Framework.

Detailed reports and data tables on our performance are available on Barrick’s Transparency Hub.

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CSR Advisory Board

CSR Advisory Board

Barrick’s Corporate Social Responsibility Advisory Board (the Advisory Board) was formed in 2012 and acts as an external sounding board on a range of corporate responsibility issues, including community relations, sustainable development, water, energy, climate change, security, and human rights.

We benefit from the insight of several world-renowned experts in human rights, sustainability and international development, currently including Aron Cramer, Robert Fowler and Gare Smith. John Ruggie, author of the United Nations Guiding Principles on Business and Human Rights, serves as a Special Consultant to the Advisory Board.

MEETING SUMMARIES

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Heart of Gold Fund

Heart of Gold Fund

At the corporate level, Barrick's Heart of Gold Fund supports Canadian non-profit organizations and other charitable endeavors with mandates that contribute to economic and social development. Barrick’s corporate philanthropic policy reflects our commitment to corporate social responsibility, with a specific focus on the following key areas:

  • Education
  • Health and environment
  • Culture and recreation
  • Economic development
  • Community capacity building and leadership.

Each of Barrick’s operations can make significant and meaningful contributions to the social and economic development of host governments and communities.

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Date Download Description
May 6, 2015 files/design/bodybg/our-approach.jpg
2014 Responsibility Report
Gold  $ 1,251.80 +3.95 +0.32% Volume: June 28, 2017
ABX NYSE  $ 16.08 +0.00 +0% Volume: 9,862,000 June 27, 2017
ABX TSX  $ 21.16 +0.00 +0% Volume: 2,301,000 June 27, 2017
Gold  $ 1,251.80 +3.95 +0.32% Volume: June 28, 2017

Our vision is the generation of wealth through responsible mining — wealth for our owners, our people, and the countries and communities with which we partner.

World Gold Council MemberMember of ICMM

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