Environment

Mining for a Resilient Future

Mining has been central to human progress since the Stone Age. However, the extraction of the minerals and metals that drive this advancement inevitably impacts the natural environment from which they are sourced.

Gold and copper have long been the backbone of human development and are even more essential to the modern, low-carbon and poverty alleviated world of the future — powering renewable energy technologies and driving economic growth in developing regions. Their value extends beyond extraction, with mining playing a critical role in building resilience for people, businesses and ecosystems.

To make this a reality, the mining sector must be climate-smart, water-conscious and biodiversity-focused — not just mitigating risks but actively maintaining and restoring ecological balance while creating lasting shared value for host communities.

At Barrick, we embrace this responsibility at every stage of the mining lifecycle, from how we plan, operate and close our mines. Our approach is:

• Holistic – Recognizing that water, biodiversity, climate and community dependencies are interconnected, not isolated challenges.
• Science-based – Aligning climate and biodiversity targets with life-of-mine plans and expansion strategies through data-driven assessments.
• Action-oriented – Moving beyond pledges to tangible action, ensuring every commitment comes with a clear roadmap for real-world impact.

By investing in cleaner energy, efficient water use, ecosystem restoration and climate adaptation, we are future-proofing our business while strengthening the resilience of the environments and communities where we operate.
 

Sustainability in Action

At Barrick, environmental responsibility goes beyond compliance. We work to protect, conserve and, where practicable, strengthen the natural resources we all depend on. Our approach includes:

• Water stewardship – We integrate water management throughout our mine planning, striving to safeguard shared water sources, optimize use and, where possible, enhance availability for local communities.
• Climate resilience – We embed climate risks into our operational, regional and group-level strategies. This allows us to mitigate, adapt and prepare for a changing climate while protecting assets and strengthening local resilience.
• Clean energy leadership – For more than a decade, we have been introducing and then scaling renewable energy solutions into the energy mixes of our operations. This ensures reliable power for operations and often nearby communities as well. At the same time, it helps drive down our greenhouse gas emissions. In the past five years, our investments in solar production, hydropower and improving fuel efficiency have cut our scope 1 and 2 emissions by nearly 10% against our 2018 baseline.
• Biodiversity beyond compliance – Over the past two years, we have been developing our industry-leading Biodiversity Residual Impact Assessment (BRIA) tool, a critical step in quantifying and understanding the impact of our activities. This reflects our commitment to no net loss and ensures biodiversity considerations are embedded in decision-making. Beyond impact management, we actively support conservation efforts — restoring ecosystems, protecting species and enhancing biodiversity resilience. A key example is our partnership with African Parks, where we played an instrumental role in the reintroduction of white rhinos to Garamba National Park in the DRC, a milestone for species conservation in the region.
  

Environment – Sustainability Report 2024