materiality-process

A company of Barrick’s size is faced with myriad social, environmental and economic issues on which it could report.

Under the Global Reporting Initiative G4 Guidelines, organizations focus their reporting on matters that are specifically material to them and provide greater depth on those subjects. This helps ensure we are reporting on issues that matter to and could have a material impact on both our stakeholders and our business. We identify these issues through the following four-step process.

1. Issue Identification

We first identify a range of potential issues in the context of our social, economic and environmental impacts, based on input from internal and external sources.

External Sources

  • CSR Advisory Board
  • Industry and societal trends
  • Investor requests
  • Peer companies
  • Stakeholder engagement

Internal Sources

  • Annual Information Form / Annual Report
  • Issues reported to Board
  • Issues Working Group
  • Site risks identified in Business Plan Reviews (BPRs)
  • Subject matter experts

2. Issue Boundaries

A topic may be material and relevant for reporting as a result of our own activity, including from our operations, closure properties or employee conduct, as well as from external activity, such as from suppliers, peer companies or joint-venture partners.  We therefore consider our full value chain when assessing potential issues to report.

External

  • Contractors
  • Governments
  • Industry Peers
  • NGOs
  • Suppliers
  • Unions

Internal

  • Closure Properties
  • Exploration
  • Offices
  • Operations
  • Projects

3. Prioritization & Validation

Each topic is assessed on a materiality matrix in terms of its importance to our stakeholders and the potential impact on Barrick’s business. We rank the issues based on the frequency with which they are identified by internal and external sources. The ranking of each issue is also reviewed and approved by senior decision-makers at Barrick. This process allows us to prioritize the issues in terms of low, medium and high importance.

Prioritization & Validation

4. Reporting

In 2015, seven material issues of high importance to both Barrick and our stakeholders were identified through this four-step process. An additional eight issues were identified as having medium importance. We report on all of these issues in accordance with the GRI-G4 Core reporting framework. We also report on some additional topics identified to be of low reporting priority where needed, in accordance with regulatory or other reporting requirements.

Reporting

Material Issues Reported in the 2015 Responsibility Report

Communities

Why is this material? Barrick’s operations can have both positive and negative impacts on one of our most important partners—the people living in communities near our mines. A mine can bring increased economic activity, create local jobs and provide tax revenue that helps support local governments in delivering services. Mining can also contribute to unwanted social change, use scarce resources and contribute to an unsustainable influx of people into a community.Our business depends on developing stable and respectful partnerships with the communities near our mines. We believe it is important to report on how we strive to act in a respectful manner, engage in transparent and open dialogue and work to share the benefits of mining. When we get this right, we earn the trust of our community partners, maintain access to resources and help ensure a stable operating environment. 

Read more on Communities

Energy Use & Climate Change

Why is this material? Mining is an energy-intensive business. Energy is used at every stage of the mining process and represents a significant portion of our overall costs. We consider climate change to be a company, community and global concern, and recognize the link between our energy use and this global challenge. When we effectively manage our energy use we can reduce our greenhouse gas (GHG) emissions, achieve more efficient production, reduce our draw from local energy grids and reduce our direct mining costs. For these reasons, we see effective management of our energy use and transparent reporting on our progress as a business imperative.

Read more on Energy Use & Climate Change

Water Management

Why is this material? Mining is a water-intensive industry. All of our partners—and especially local communities, employees, and governments—rightly expect that we will responsibly manage this shared and vital resource. How we do this is guided by stringent government regulations as well as our own robust performance standards and policies. We believe it is important for communities, governments, employees and other partners to understand how we use, manage and conserve water and to provide them with detailed information on our water use. Doing so is consistent with our commitment to transparency and ensures that others understand our progress in managing this important and shared resource.

Read more on Water Management

Tailings Management

Why is this material? Mining involves the removal and processing of ore. After processing, mine tailings may be produced and stored in engineered tailings storage facilities (TSFs). If not properly managed, TSFs can potentially fail and lead to harmful impacts on the environment and communities. This is why we manage our TSFs under rigorous standards and requirements, including design principles, inspection protocols and independent assurance audits. These help us design and monitor TSFs in line with international best practice.

Read more on Tailings Management

Human Rights

Why is this material? Barrick operates mines in highly diverse social, economic and political contexts, including locations where human rights may not be fully recognized or respected. Wherever we operate, we will respect the human rights of all stakeholders impacted by our operations. Both we, and the communities near our operations, benefit when human rights are respected. For communities, the more members experience law and order, the rule of law and other human rights, the more they will demand such rights from governments, companies and others. This in turn can lead to improved livelihoods, personal security, personal freedoms and other rights every person should maintain. For Barrick, this means the risk of disruption to our activities is reduced, reputation damage and legal action are avoided, that we operate in a way that is consistent with our core values of respect and integrity and, most importantly, that we are part of a community defined by mutual respect. It is therefore our belief that responsible economic development has the potential to – and indeed should – contribute to the demand for, and elevation of, human rights.

Read more on Human Rights

Safety and Health

Why is this material? Mining can be dangerous. Exposure to mining equipment, harsh weather conditions, loud noises, potential rock falls, dangerous chemicals, confined spaces, trips and operator error can all contribute to workplace injuries. For Barrick, nothing is more important than the safety, health and well-being of our workers and their families. A safe and healthy workforce goes hand in hand with our operational success. Therefore, we think it is essential to report to our stakeholders—who include our own employees—how we are working to fulfill our commitment of "Every person going home safe and healthy every day."

Read more on Safety and Health

Government Affairs

Why is this material?  Our business depends on strong partnerships with host governments. As a heavily regulated industry, mining-related rules and laws are present at every stage of the mine life cycle—from regulations allowing access to land for exploration, to permits for mining, to royalty and tax regimes.  Barrick’s operational success depends on stable, predictable and fair rules and regulations. Wherever we operate, we work constructively with governments at all levels to understand their priorities and interests. We believe that when we consider our government partners’ interests as our own, everyone—communities, host governments and our shareholders—stands to benefit.

Read more on Government Affairs

Performance Summary

2015 Performance Summary (PDF)

Date Download Description
May 6, 2015 files/design/bodybg/our-approach.jpg
2014 Responsibility Report
February 9, 2015 files/design/bodybg/to2015.jpg
Toronto 2015
January 1, 2013 files/design/bodybg/news.jpg
Inevstors > News
January 1, 2013 files/design/bodybg/presentations.jpg
Investors > Presentation
January 1, 2013 files/design/bodybg/news-details.jpg
Investors > News Details
January 1, 2013 files/design/bodybg/presentation-details.jpg
Investors > Presentation Details
January 1, 2013 files/design/bodybg/quarterly-reports.jpg
Investors > Quarterly Reports
January 1, 2013 files/design/bodybg/regulatory-filings.jpg
Investors > Regulatory Filings
January 1, 2013 files/design/bodybg/regulatory-filings.jpg
Investors > Regulatory Filing Details
January 1, 2013 files/design/bodybg/2012-annual-report.jpg
Investors > Annual Report 2012
January 1, 2013 files/design/bodybg/2012-annual-report.jpg
Investors > Message from the Founder and Chairman
January 1, 2013 files/design/bodybg/2012-annual-report.jpg
Investors > Financial Highlights
January 1, 2013 files/design/bodybg/2012-annual-report.jpg
Investors > Message from the President and CEO
January 1, 2013 files/design/bodybg/2012-annual-report.jpg
Investors > Focus on Free Cash Flow
January 1, 2013 files/design/bodybg/2012-annual-report.jpg
Investors > World Class Assets
January 1, 2013 files/design/bodybg/2012-annual-report.jpg
Investors > Exploration
January 1, 2013 files/design/bodybg/2012-annual-report.jpg
Investors > Corporate Responsibility
January 1, 2013 files/design/bodybg/2012-annual-report.jpg
Investors > Ethical Business Practices
January 1, 2013 files/design/bodybg/manage-your-shares.jpg
Investors > Manage Your Shares
January 1, 2013 files/design/bodybg/glossary.jpg
Investors > Tax Information – PDG Shareholders
January 1, 2013 files/design/bodybg/operations.jpg
Operations
January 1, 2013 files/design/bodybg/north-america.jpg
Operations > North America
January 1, 2013 files/design/bodybg/hemlo.jpg
Operations > North America > Hemlo
January 1, 2013 files/design/bodybg/pueblo-viejo.jpg
Operations > North America > Pueblo Viejo
January 1, 2013 files/design/bodybg/bald-mountain.jpg
Operations > North America > Bald Mountain
January 1, 2013 files/design/bodybg/cortez.jpg
Operations > North America > Cortez
January 1, 2013 files/design/bodybg/golden-sunlight.jpg
Operations > North America > Golden Sunlight
January 1, 2013 files/design/bodybg/goldstrike.jpg
Operations > North America > Goldstrike
January 1, 2013 files/design/bodybg/marigold.jpg
Operations > North America > Marigold
January 1, 2013 files/design/bodybg/round-mountain.jpg
Operations > North America > Round Mountain
January 1, 2013 files/design/bodybg/ruby-hill.jpg
Operations > North America > Ruby Hill
January 1, 2013 files/design/bodybg/turquoise-ridge.jpg
Operations > North America > Turquoise Ridge
January 1, 2013 files/design/bodybg/south-america.jpg
Operations > South America
January 1, 2013 files/design/bodybg/veladero.jpg
Operations > South America > Veladero
January 1, 2013 files/design/bodybg/lagunas-norte.jpg
Operations > South America > Lagunas Norte
January 1, 2013 files/design/bodybg/australia-pacific.jpg
Operations > Australia Pacific
January 1, 2013 files/design/bodybg/cowal.jpg
Operations > Australia Pacific > Cowal
January 1, 2013 files/design/bodybg/kalgoorlie.jpg
Operations > Australia Pacific > Kalgoorlie
January 1, 2013 files/design/bodybg/kanowna.jpg
Operations > Australia Pacific > Kanowna
January 1, 2013 files/design/bodybg/plutonic.jpg
Operations > Australia Pacific > Plutonic
January 1, 2013 files/design/bodybg/yilgarn.jpg
Operations > Australia Pacific > Yilgarn South
January 1, 2013 files/design/bodybg/porgera.jpg
Operations > Australia Pacific > Porgera
January 1, 2013 files/design/bodybg/copper.jpg
Operations > Cooper
January 1, 2013 files/design/bodybg/zaldivar.jpg
Operations > Cooper > Zaldívar
January 1, 2013 files/design/bodybg/jabal-sayid.jpg
Operations > Cooper > Jabal Sayid
January 1, 2013 files/design/bodybg/lumwana.jpg
Operations > Cooper > Lumwana
January 1, 2013 files/design/bodybg/pascua-lama.jpg
Operations > Projects > Pascua-Lama
January 1, 2013 files/design/bodybg/pascua-lama.jpg
Operations > Projects > Pascua-Lama FAQ's
January 1, 2013 files/design/bodybg/pascua-lama.jpg
Operations > Projects > Pascua-Lama > Photos — Project Overview
January 1, 2013 files/design/bodybg/pascua-lama.jpg
Operations > Projects > Pascua-Lama > Photos — Project Overview
January 1, 2013 files/design/bodybg/pascua-lama.jpg
Operations > Projects > Pascua-Lama > Photos — November 2012
January 1, 2013 files/design/bodybg/pascua-lama.jpg
Operations > Projects > Pascua-Lama > Photos — December 2012
January 1, 2013 files/design/bodybg/pascua-lama.jpg
Operations > Projects > Pascua-Lama > Photos — January 2013
January 1, 2013 files/design/bodybg/pascua-lama.jpg
Operations > Projects > Pascua-Lama > Photos — February 2013
January 1, 2013 files/design/bodybg/cerro-casale.jpg
Operations > Projects > Cerro Casale
January 1, 2013 files/design/bodybg/reko-diq.jpg
Operations > Projects > Reko Diq
January 1, 2013 files/design/bodybg/kabanga.jpg
Operations > Projects > Kabanga
January 1, 2013 files/design/bodybg/donlin-gold.jpg
Operations > Projects > Donlin Gold
January 1, 2013 files/design/bodybg/responsibility.jpg
Responsibility
January 1, 2013 files/design/bodybg/our-approach.jpg
Responsibility > CSR Advisory Board
January 1, 2013 files/design/bodybg/our-approach.jpg
Responsibility > Our Commitment
January 1, 2013 files/design/bodybg/people.jpg
Responsibility > Community
January 1, 2013 files/design/bodybg/our-approach.jpg
Responsibility > Heart of Gold Fund
January 1, 2013 files/design/bodybg/safety.jpg
Responsibility > Safety & Health
January 1, 2013 files/design/bodybg/human-rights.jpg
Responsibility > Human Rights
January 1, 2013 files/design/bodybg/ethics.jpg
Responsibility > Ethics
January 1, 2013 files/design/bodybg/reporting.jpg
Responsibility > Reporting
January 1, 2013 files/design/bodybg/profile.jpg
Company > About Us
January 1, 2013 files/design/bodybg/management.jpg
Company > Management
January 1, 2013 files/design/bodybg/governance.jpg
Company > Governance
January 1, 2013 files/design/bodybg/history.jpg
Company > History
January 1, 2013 files/design/bodybg/glossary.jpg
Company > Glossary
January 1, 2013 files/design/bodybg/careers.jpg
Careers
January 1, 2013 files/design/bodybg/careers.jpg
Careers > Co-op/New Grads
January 1, 2013 files/design/bodybg/careers.jpg
Careers > Why Barrick?
January 1, 2013 files/design/bodybg/careers.jpg
Careers > FAQs
January 1, 2013 files/design/bodybg/video.jpg
Careers > Remarkable people in Nevada
January 1, 2013 files/design/bodybg/video.jpg
Careers > Remarkable people at Barrick
January 1, 2013 files/design/bodybg/video.jpg
Careers > Remarkable people in South America
January 1, 2013 files/design/bodybg/video.jpg
Careers >Remarkable people in Australia
January 1, 2013 files/design/bodybg/suppliers.jpg
Suppliers
January 1, 2013 files/design/bodybg/contact-us.jpg
Contact Us
January 1, 2013 files/design/bodybg/legal.jpg
Legal & Privacy
January 1, 2013 files/design/bodybg/search-results.jpg
Search Results
January 1, 2013 files/design/bodybg/responsibility.jpg
Page Not Found
January 1, 2013 files/design/bodybg/exploration.jpg
Operations > Exploration
January 1, 2013 files/design/bodybg/pierina.jpg
Operations > Pierina
January 1, 2013 files/design/bodybg/environment.jpg
Responsibility > Environment
January 1, 2013 files/design/bodybg/security.jpg
Responsibility > Security
January 1, 2013 files/design/bodybg/stock-performance.jpg
Investors > Share Price & Dividend
January 1, 2013 files/design/bodybg/investor-relations.jpg
Investors Page
January 1, 2013 files/design/bodybg/home-barrick-gold.jpg
Home Page
January 1, 2013 files/design/bodybg/bod.jpg
Company > Board of Directors
January 1, 2013 files/design/bodybg/goldrush.jpg
Operations > Projects
January 1, 2013 files/design/bodybg/quarterly-reports.jpg
Investors > Annual Meeting of Shareholders
Gold  $ 1,254.09 +0.89 +0.07% Volume: March 29, 2017
ABX NYSE  $ 19.19 +0.11 +0.58% Volume: 7,267,372 March 29, 2017
ABX TSX  $ 25.57 +0.02 +0.08% Volume: 2,034,226 March 29, 2017
Gold  $ 1,254.09 +0.89 +0.07% Volume: March 29, 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 Member

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