Taxes and Royalties

Mining is a heavily regulated industry; our business depends on strong partnerships with host governments.

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 many of 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 balance our own interests and priorities with those of our government partners, working to ensure that everyone derives real and sustained value from our operations.

Barrick’s executive directors and 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.

Barrick made a total of CAD $29,000 in political contributions in 2015, all in the province of Ontario, Canada.

Dialogue with Government

In 2015, our public policy activities focused on working with our industry associations to ensure 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 Bureau of Land Management and the United States Fish and Wildlife Service to voluntarily mitigate impacts to sage grouse habitat near our mines in Nevada. For further information see here.
  • Formal discussion with the government of Zambia regarding the country’s mining tax regime and Barrick’s rights under the Lumwana mine’s Development Agreement.
  • Engagement with the government of Peru regarding modifications to water quality standards.
  • Working with the Chilean mining authority to file a temporary and partial closure plan for the Pascua-Lama project.
  • Extensive engagement with national, provincial and local governments in Argentina following the identification of a valve failure at the Veladero mine on September 13, 2015, which resulted in a release of cyanide-bearing process solution into a nearby waterway, (see here for further information) to ensure governments were fully briefed on the incident and Barrick’s response.
  • Barrick was proud to supply all of the gold, silver and copper for the athlete medals of the Toronto 2015 Pan Am and Parapan Am Games. The Games were funded by the Government of Canada and the Province of Ontario.

Industry Associations

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

  • Australian Institute of Mining & Metallurgy
  • 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
  • Minerals Council of Australia
  • 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  $ 1,266.38 -3.42 -0.27% Volume: April 27, 2017
ABX NYSE  $ 16.96 +0.00 +0% Volume: 23,683,300 April 26, 2017
ABX TSX  $ 23.05 +0.00 +0% Volume: 4,645,800 April 26, 2017
Gold  $ 1,266.38 -3.42 -0.27% Volume: April 27, 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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