government-affairs

Successful mining relies on a partnership with host governments to extract their resources, creating benefits for the countries and communities in which we operate and for our shareholders.

From exploration to construction, operation, and closure, our activities are significantly impacted by the political and regulatory environments of our host countries. We recognize that our mines can play a significant role – economically, socially and politically – in the jurisdictions where we operate.

Our Approach

We take a partnership approach with all our stakeholders, including with our home and host governments. This means we work to align our interests and priorities with those of our government partners to provide real and sustained value from our operations.

Barrick’s executive directors, their teams in-country, and the head office government affairs team work to build constructive relationships and regularly engage with regulators, public-policy makers and non-governmental organizations, either on a face-to-face basis or through our industry associations.

Through an open and transparent approach, we build enduring, mutually beneficial relationships that will lead to sustained value and stability in the long term. Part of this approach includes collaborating with civil society and developing responsible mining standards and guidelines for our industry. For example, Barrick joined with our industry peers, NGOs and the Canadian government to advocate for and develop comprehensive legislation governing transparency in payments to governments.

Political Contributions

In general, we do not contribute funding for politicians or political parties, except on a limited basis as allowed by law and Barrick’s Code of Business Conduct and Ethics and our Anti-Corruption Program.

In 2016, Barrick made a total of $226,000 in political contributions in the United States and $32,200 in political contributions in Canada, all in the province of Ontario.

Dialogue with Government

In 2016, our public policy activities focused on working with our industry associations so that Barrick’s position on important issues was represented. All lobbying activities are compliant with regulations and reported to authorities as required.

Key areas of activity included:

  • Engaging with new administrations in our countries of operation, including Canada (October 2015), Argentina (November 2015), the Dominican Republic (May 2016), Peru (June 2016), Zambia (August 2016), and the United States (November 2016).
  • Barrick, in partnership with industry, engaged extensively with the government of Zambia on amendments to the Mineral Royalty Tax. The changes adjusted the rate to a sliding scale based on the price of copper, from 4% when copper is below $2.04/lb to 6% when above $2.72/lb.
  • Barrick worked closely with Chilean authorities and local communities to receive approval for partial amendment of Pascua-Lama’s environmental permit to better reflect the water quality baseline from 2009.
  • Following the September 8, 2016, incident at Veladero, Barrick engaged extensively with national, provincial and local governments in Argentina after the temporary suspension of operations at the Veladero mine was ordered by the Provincial mining authority and a San Juan Provincial court on September 15, 2016, and September 22, 2016, respectively. On October 4, 2016, following, among other matters, the completion of certain urgent works required by the Provincial mining authority and a judicial inspection of the mine, the San Juan Provincial court lifted the suspension of operations and ordered that mining activities be resumed. Engagement with the government has remained ongoing following the subsequent March 2017 incident.

Industry Associations

Industry associations (national and international) of which Barrick is a member include the following:

  • Cámara Argentina de Empresarios Mineros
  • Cámara Minera de San Juan (Argentina)
  • Cámara Minera y Petrolera de la República Dominicana
  • Consejo Minero (Chile)
  • Chamber of Mines (Zambia)
  • International Council on Mining and Metals
  • Mining Association of Canada
  • Nevada Mining Association
  • Prospectors and Developers Association of Canada
  • Sociedad Nacional de Mineria (Chile)
  • Sociedad Nacional de Mineria, Petroleo y Energia (Peru)
  • World Gold Council
Date Download Description
May 6, 2015 files/design/bodybg/our-approach.jpg
2014 Responsibility Report
Gold  $ 1,296.75 +1.26 +0.1% Volume: October 16, 2017
ABX NYSE  $ 16.24 -0.43 -2.58% Volume: 9,896,438 October 16, 2017
ABX TSX  $ 20.35 -0.45 -2.16% Volume: 1,944,416 October 16, 2017
Gold  $ 1,296.75 +1.26 +0.1% Volume: October 16, 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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