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Social & Economic Development

Communities & People

Our goal is to help build resilient economies and thriving communities that extend well beyond the life of a mine.

Mining as a Catalyst for Enduring Economic Growth

At Barrick, we know and have demonstrated that responsible mining drives long-term, sustainable socio-economic development.

More than that, we believe mining should leverage national assets to help build diverse, thriving economies, resilient enough to endure long after mining operations cease.

Our approach is grounded in a simple but fundamental principle: a country’s mineral wealth should benefit its people. We strive to be the partner of choice in unlocking that value, ensuring that mining supports, grows and sustains communities.

Our commitment to community resilience, climate resilience and nature stewardship is embedded in our Sustainable Development Policy and Social Performance Policy. These policies, along with further details on our Community Development and Relations approach, are publicly available on our website. This commitment is more than a statement — it is reflected in the way we work, invest and build lasting partnerships.
 

Turning Resources into Lasting Impact

Mining is more than an industry, it is an opportunity to create lasting economic and social value. At Barrick, responsible mining is about working alongside governments, communities and local businesses to ensure the benefits of resource development extend well beyond the mine itself.

Through our partnerships, we help drive economic diversification, strengthen local supply chains and support industries that will sustain livelihoods long after mining operations conclude. The economic impact of mining extends far beyond the mine site. Studies suggest that for every dollar generated in mining output, between two and five dollars are created elsewhere in the economy as jobs, businesses and infrastructure emerge to support and sustain the industry.

Communities & People Sustainability Report 2024

Our Contribution to Society in 2024

We're proud of the contributions we make to society, particularly the countries and communities in which we operate.

The image shows an infographic about economic value distribution across different categories. It features colorful panels with financial figures and icons representing different sectors.

Our Community Investment by Theme

In 2024, Barrick invested $48.9 million in community development across our global operations. This investment was not top-down. It was driven by local voices and shaped by the people who know their communities best.

The image shows a treemap visualization of budget allocations across different sectors. The largest allocation is for Infrastructure at $9,525,583 (shown in bright green on the left). The next largest areas are Economic Development at $9,288,474 (light green) and Education at $9,854,208 (dark blue). Other significant allocations include Health at $7,956,256, Other development spend including integrated categories at $8,240,363, Arts, Culture and Sports at $2,522,521, Community Engagement at $882,694, Environment at $729,090, and Water Infrastructure at $817,833. Each category is represented by a colored rectangle with its name and dollar amount displayed, with the size of each rectangle proportional to its budget allocation.