World Vision and Barrick Launch Partnership for Community Development in Peru

October 08, 2003
    TORONTO--(BUSINESS WIRE)--Oct. 8, 2003--

    All amounts in United States dollars

Barrick Gold Corporation (NYSE:ABX) (TSX:ABX) (LSE:ABX) (PARIS:ABX) (Swiss:ABX) and World Vision Canada today announced an initiative to support child-centered, sustainable community development in northern Peru. The development program will last approximately 12 years and involve social investments in the region.

The program, which is among the first major corporate/charitable development partnerships in the region, will rely on community meetings to set priorities in such areas as improving education, health care and nutrition, providing drinking water and developing micro-enterprises that benefit the well-being of whole communities. It will serve about 7,800 people, half under 18 years of age, living in the mountainous region of Ancash, in north-central Peru. The area has a high incidence of child malnutrition and low literacy levels, as well as low crop productivity among subsistence farmers.

The initiative is based on Barrick's and World Vision's shared emphasis on the well-being of children, community self-determination and sustainable social and economic development. It complements Barrick's existing contributions to community development work in the area, where the Pierina Mine is located. Last year, Barrick's investment in community causes and charities totaled more than $700,000.

"Our partnership with World Vision is a natural extension of Barrick's commitment to mining responsibly, and sharing lasting benefits with the communities and countries where we operate," said Barrick President and Chief Executive Officer Greg Wilkins. "We teamed up with World Vision on this project because of their global track record as a relief and development organization in close to 100 countries. We know they have the knowledge and skills to help build stronger, more resilient communities."

World Vision partners with corporations who maintain positive and ethical business practices. "Barrick's interest in the well-being of the local people is evident; they have demonstrated it by funding or building health care facilities, schools, and roads, as well as by providing skills training and hundreds of jobs," said World Vision Canada Chief Executive Officer, David Toycen. "Canadians, who have been asking for this kind of social responsibility from corporations, can make a statement of support by joining the partnership through sponsorship of a Peruvian child." World Vision estimates that there are at least 2,000 children who need sponsors in these communities.

World Vision Canada is a Christian humanitarian relief and development organization, which invites Canadians to share their resources to empower people living in poverty. World Vision works in partnership with the world's disadvantaged to build stronger, more resilient communities. Through partnership with World Vision International, it works in over 90 countries around the world providing help to more than 85 million people each year. In the Latin American and Caribbean regions, World Vision works in 14 countries, including Peru.

Barrick is one of the world's leading gold producers, with operations and development projects on four continents, and a commitment to mining responsibly. The Company has one of the largest gold reserves, at 87 million ounces, and the industry's only A-rated balance sheet.

To sponsor a child call 1-800-268-5528 or visit

    CONTACT: Barrick Gold Corporation
             Vincent Borg, 416-307-7477
             Fax: 416-861-1509
             World Vision Canada
             Eusis Dougan-McKenzie, 905-565-6200 ext. 2727

    SOURCE: Barrick Gold Corporation

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