The 2015 Responsibility Report provides information on Barrick’s management of significant issues affecting our license to operate, including environmental, workplace and social issues.
Barrick reports to the Global Reporting Initiative’s (GRI) Sustainability Reporting Guidelines, in accordance with GRI-G4 - Core criteria. Our annual Responsibility Report, based on the GRI framework and the Mining & Metals Supplement, can be used by us, and by our stakeholders, to benchmark our performance against others in our industry.
The 2015 Responsibility Report is located at the Responsibility tab on the Barrick website. It can also be printed off in PDF format.
The GRI Content Index table is located here. We have included a reference index for the 10 Principles of the UN Global Compact and the International Council on Mining and Metals (ICMM) Sustainable Development Principles in the table.
The Responsibility Report is an annual report; it covers the 2015 calendar year, which corresponds to Barrick’s financial year. Reference may be made in this report to an activity that occurred in 2016 if it helps to clarify a particular issue. Barrick’s previous Responsibility Reports have also been annual reports; the 2014 Responsibility Report was published in July 2015. These reports are available on the Barrick website.
This report and accompanying data tables contain information on all of our wholly-owned operations and joint ventures where we are the operator, as well as on our country and corporate offices, projects and closure sites, where this was identified as material in our materiality assessment. We report on 100 percent of the data and significant issues from our joint-venture operations where we are the operator.
Although it is no longer operated by Barrick, we have decided to report on data from the Porgera joint venture in the 2015 Responsibility Report. The Porgera joint venture is operated by Barrick (Niugini) Limited (“BNL”), the joint venture entity, on behalf of Barrick and Zijin Mining Group Company (“Zijin”). Barrick completed the sale of 50% of its interest in the Porgera mine to Zijin on August 31, 2015. Accordingly, all information related to Porgera in this report for the period from September 1, 2015, to December 31, 2015, is based on data provided by BNL.
We also provide limited information on our closure properties and advanced exploration and development projects. We provide information, when material, on subsidiaries, provided they have been under our operational control for at least one year.
We do not report on data from Acacia Mining plc (formerly African Barrick Gold). Barrick and Acacia are parties to a relationship agreement that regulates various aspects of the ongoing relationship between the two companies to ensure that Acacia is capable of carrying on its business independently of Barrick. Consistent with this agreement, Acacia independently manages its corporate social responsibility (CSR) programs and issues its own annual CSR Report. As such, effective as of year-end 2013, our annual Responsibility Report no longer includes Acacia.
Barrick’s Bald Mountain mine was sold to Kinross Gold Corporation on January 11, 2016. Although Barrick owned the mine at year-end 2015, the property is not included in the 2015 Responsibility Report because Barrick did not receive the required environmental, social and employee data prior to the closing of this transaction.
The following chart summarizes Barrick’s interest in its producing mines and projects as of June 2016 and notes whether those properties are included within the scope of this Responsibility Report.
Data included in 2015 Responsibility Report?
Wholly owned Operations
Pierina (in closure)
Joint-venture mines operated by Barrick (2)
Pueblo Viejo (60%)
Turquoise Ridge (75%)
Joint-venture mines not operated by Barrick (1)
Cerro Casale (75%)
Donlin Gold (50%)
Jabal Sayid (50%)
Acacia Mining plc (63.9%)
Barrick’s data is sourced from our sites using a variety of data measurement techniques. Much of the information is entered directly into a global data management system. Data review occurs at the site and corporate level.
In order to provide consistency in reporting across our global operations, for this report and on our website data tables, we calculate and report all Scope 1 GHG emissions using the Intergovernmental Panel on Climate Change (IPCC) 4th Assessment Report emission factors. Thus, our Scope 1 numbers might vary from those reported for the same operation under that operation’s national reporting requirements. Scope 2 emissions (purchased electricity) are calculated using country or electricity provider emission factors.
All currency amounts in this report are expressed in U.S. dollars, unless otherwise indicated. Data are reported using the metric system.
Most data are aggregated within the report. We also publish data tables, which have four years of data, separated by each country of operation and site (where feasible). Data are often presented in two ways: as absolute data and as intensity metrics.
In compiling this report we were guided by our Corporate Social Responsibility Charter, the International Council on Mining and Metals (ICMM) sustainable development framework and principles, the UN Global Compact 10 Principles, and the GRI-G4 indicators, as well as current CSR issues and trends. Seven high-priority material issues were identified for 2015 and are reported on in this report, along with other important corporate responsibility issues.
Due to the decision to exclude Acacia Mining plc from the Responsibility Report, Tanzania is not included in our 2014 or 2015 data. However, Acacia data for 2012–2013 are included in the global totals for data sets where available. Data for divested properties and properties no longer under Barrick’s operational control are also included in the historic global totals for each data set. See “Significant Developments” below for a description of the divestitures and other significant transactions that occurred during 2015 and thus far in 2016.
The 2014 water discharge numbers for Canada closure sites have been updated based on revised data from the site. The 2014 total discharge data for Barrick has been revised per these changes.
In 2015, Barrick reduced its total debt by $3.1 billion, exceeding an original debt reduction target of $3 billion for the year, through a combination of normal course repayments and early debt retirements.
Barrick completed the following transactions in 2015 and 2016 as part of this debt reduction strategy. On July 23, 2015, Barrick completed the sale of the Cowal mine in Australia for cash consideration of $550 million. On August 31, 2015, Barrick completed the sale of 50% of its interest in the Porgera mine in Papua New Guinea to Zijin Mining Group Company (Zijin) for cash consideration of $298 million. On September 29, 2015, Barrick closed a gold and silver streaming transaction with Royal Gold, Inc. (Royal Gold) for production linked to Barrick’s 60 percent interest in the Pueblo Viejo mine in the Dominican Republic. Royal Gold made an up-front cash payment of $610 million and will continue to make cash payments for gold and silver delivered under the agreement. On December 1, 2015, Barrick completed the sale of 50% of its Zaldívar copper mine in Chile to Antofagasta Plc for total consideration of $1.005 billion. Barrick received $950 million upon closing of the transaction, net of $10 million for working capital items, $20 million being held in escrow pending finalization of the working capital adjustment and the remaining $25 million will be received over the next five years. On December 17, 2015, Barrick completed the sale of the Ruby Hill mine and Barrick’s 70% interest in the Spring Valley project, both in Nevada, to Waterton Precious Metals Fund II Cayman, LP for cash consideration of $110 million. On January 11, 2016, Barrick completed the sale of the Bald Mountain mine and Barrick’s 50% interest in the Round Mountain mine, both in Nevada, to Kinross Gold Corporation for cash consideration of $610 million.
Through a combination of acquisitions and its exploration program, Barrick has several projects at varying stages of advancement. In 2015, the Company completed four studies on projects that have the potential to replace or accelerate gold production, one at each of the Cortez mine, Goldrush project, Lagunas Norte mine and Turquoise Ridge mine.
For additional information regarding the 2015 Responsibility Report, please contact:
Peter Sinclair, Chief Sustainability Officer
Barrick Gold Corporation
Brookfield Place, TD Canada Trust Tower
161 Bay Street, Suite 3700
Toronto, ON M5J 2S1
Telephone: 416.861.9911 Toll Free: 800.720.7415
Barrick was listed on the Dow Jones Sustainability World Index in September 2015 for the eighth consecutive year. This is also the ninth year that we have been included on the DJSI North American Index.
Barrick was recognized as a carbon disclosure leader in an annual global survey of companies conducted by the CDP in 2015. Barrick earned the highest disclosure score in the Canadian materials sector, receiving 98 points out of a possible 100 for its detailed responses to a questionnaire about how it manages carbon-related issues, such as governance, strategy, initiatives and greenhouse gas emissions.
1 On December 1, 2015, Barrick completed the sale of 50% of the Zaldívar copper mine in Chile to Antofagasta Plc. Barrick is no longer the operator and therefore is no longer reporting on the site.
2 Bulyanhulu, Buzwagi and North Mara are indirectly owned by Acacia Mining, of which Barrick owns 63.9%.
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