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Sustainability > Our Approach

Our Sustainability Strategy

At Barrick, we aim to be the leading mining company focused on gold, growing our free cash flow per share from a portfolio of high-quality assets through disciplined capital allocation and operational excellence. Sustainability is at the heart of this.

Gaining the trust and confidence of communities and governments is one of the best ways we can “de-risk” a project, keep our operations running smoothly, and protect our ability to grow the business.

We do this in three ways:

MANAGE OUR IMPACTS

Nothing is more important than the safety and health of our people and their families. Our next priority must always be the environment. While mining inevitably will have some impacts on the environment, our partners rightly expect that we will manage and minimize these according to international standards and stakeholder expectations.

SHARE THE BENEFITS

Host governments and communities deserve to benefit from the extraction of their resources. We do this by committing to local hiring and contracting, investing in community priorities, and paying our fair share of taxes.

ACT WITH RESPECT

We must treat our partners with dignity and respect their human rights. This means listening and responding to concerns, providing remedy if we do something wrong, and involving people in the decisions that will affect them.

By acting on these priorities, we earn the trust of our partners and maintain our license to operate throughout the life of a mine.

Sustainability Vision

We partner with host governments and communities to transform their natural resources into sustainable benefits and mutual prosperity.

We aim to be a welcome and trusted partner of host governments and communities, the most sought-after employer, and the natural choice for long-term investors.

Our Strategy in Action

We put our sustainability strategy into action through a decentralized operating model. All our mine sites are managed locally, with Barrick’s head office in Toronto primarily responsible for setting policy and standards and allocating capital, both human and financial. Maintaining our license to operate is therefore the joint responsibility of Barrick’s mine General Managers (GMs) and country Executive Directors (EDs). Barrick’s unique ED/GM management structure reflects our belief that mining relies as much on our ability to build and sustain positive relationship with communities and governments as it does on our technical know-how. To help incentives align, GMs and EDs are compensated on the same metrics, which include both operational and sustainability criteria.

In fact, all of our people have a portion of their annual incentive compensation tied to Barrick’s sustainability performance. In 2017, 15% of this compensation was driven by the Company’s performance on safety, environment, anti-corruption, human rights, and community relations. Doing so helps bring sustainability to the forefront of our day-to-day decision making.

Next: Responsible Mining Governance