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Wikipedia

Barrick Gold

February 16, 2024

Barrick Gold Corporation is a mining company that produces gold and copper with 16 operating sites in 13 countries.[4] It is headquartered in Toronto, Ontario, Canada.[5] It has mining operations in Argentina, Canada, Chile, Côte d'Ivoire, Democratic Republic of the Congo, Dominican Republic, Mali, Papua New Guinea, Saudi Arabia, Tanzania, the United States and Zambia.[6] In 2019, it produced 5.5 million ounces of gold at all-in sustaining costs of $894/ounce[7] and 432 million pounds of copper at all-in sustaining costs of $2.52/pound.[8] As of 31 December 2019, the company had 71 million ounces of proven and probable gold reserves.[9]

Barrick Gold
Barrick Hemlo mine in Ontario, Canada
Company typePublic
IndustryMetals and mining
Founded1983; 41 years ago (1983)
FounderPeter Munk
Headquarters
Toronto, Ontario
,
Canada
Key people
ProductsGold, silver, copper
RevenueUS$11.013 billion (Fiscal Year Ended December 31, 2022)[1]
US$3.481 billion (Fiscal Year Ended December 31, 2022)[1]
US$432 million (Fiscal Year Ended December 31, 2022)[1]
Total assetsUS$45.695 billion (Fiscal Year Ended December 31, 2022)[2]
Total equityUS$31.289 billion (Fiscal Year Ended December 31, 2022)[1]
Number of employees
18,421[3]
Websitewww.barrick.com/English/home/default.aspx

Barrick has met or beaten market consensus on its financial and operating results for eleven consecutive quarters as of Q3 2021.[10]

Barrick had been the world's largest gold mining company until Newmont acquired Goldcorp in 2019.[11] Barrick expects to produce between 4.6 and five million ounces of gold and between 440 and 500 million pounds of copper in 2020.[12]

Chief executive Mark Bristow said in 2020 that Barrick has debated moving its primary stock listing to the New York Stock Exchange from the Toronto Stock Exchange, broadening its exposure to potential investors.[13]

History edit

Founding and early years edit

Barrick Resources edit

Barrick Gold Corporation evolved from a privately held North American oil and gas company,[14] Barrick Resources.[15] After suffering financial losses in oil and gas,[16] founder Peter Munk (1927–2018) decided to refocus the company on gold.[17] Barrick Resources Corporation became a publicly traded company on May 2, 1983,[18] listing on the Toronto Stock Exchange.[19]

The company was set up not as a conventional mining company, but a mergers and acquisitions entity that bought mining companies.[20]

1986 to 2005 edit

Goldstrike edit

Main article: Goldstrike mine

In the 1980s, Barrick Gold purchased Goldstrike, which was a rapid success making Barrick one of the biggest gold mining companies globally.

American Barrick edit

Reflecting its identity as a North American producer, distinct from its South African competitors, the company's name was changed to American Barrick Resources in 1986.[21] It was listed on the New York Stock Exchange in February 1987.[22] Its name was changed to Barrick Gold Corporation in 1995.[23]

Barrick Gold Corporation edit

American Barrick became the third-largest gold mining company in the world when it acquired Lac Minerals in 1994, which owned mining properties in North and South America.[24] Two years later, in 1996, Arequipa Resources, owner of properties including the Pierina mine in Peru, accepted a takeover offer from the renamed Barrick Gold Corporation. A third acquisition followed in early 1999, when Barrick Gold acquired Sutton Resources Ltd., assuming ownership of properties in Tanzania.[25] In 2001, Barrick acquired Homestake Mining Company for $2.3 billion in stock, then one of the oldest mining companies in the United States.[26] The purchase made Barrick the second-largest gold producer in the world.[26]

Placer Dome acquisition edit

In December 2005, Barrick launched a hostile takeover bid valued at US$9.2 billion for rival Canadian gold miner Placer Dome.[27] The $10.4 billion transaction closed in December 2006.[28][29] The procurement made Barrick the owner of the Porgera Gold Mine in Papua New Guinea.[20] Shortly after the merger, Barrick, seeking increased profitability, terminated many of the staff at Placer Dome who led the community relations work.[20]

2006 to present edit

African Barrick Gold edit

In February 2010, Barrick Gold announced plans to create a separate company to hold its assets in Tanzania, called African Barrick Gold.[30] Barrick Gold would retain majority ownership in the new company, after its listing on the London Stock Exchange (LSE).[30] African Barrick Gold was listed on the London Stock Exchange in mid-March 2010, with an IPO valuation at US$3.6 billion.[31] The shares offered on the LSE raised just more than 500 million pounds.[32] In June the company was admitted to the FTSE 100 Index.[33]

Equinox Minerals edit

In April 2011, Barrick beat a takeover offer for Equinox Minerals by China Minmetals.[34][35]

Shandong Gold edit

In 2018, John L. Thornton orchestrated a strategic “trust-based relationship” between Barrick Gold and Shandong Gold Group, a Chinese state-owned enterprise, establishing joint ownership of the Veladero mine to capitalize on Shandong's investor base, capital suppliers, political connections, and regional influence. In the press release announcing the partnership, Thornton said that Barrick and Shandong were looking forward to “sharing... capital in ways that will create added value for our respective owners, and our government and community partners in San Juan province”.[36]

Randgold Resources edit

In September 2018, Barrick Gold announced an all-stock merger with Randgold Resources in a deal valued at $6.5 billion.[37][38] Immediately following the announcement of the merger, Randgold shares rose 6% and Barrick shares rose 5.6%.[39] The deal created the world's largest gold producer with the new company listed on the Toronto Stock Exchange and New York Stock Exchange.[39] The companies began talking about a combination in 2015 and the deal was orchestrated by Barrick Executive Chairman John L. Thornton and Randgold Founder and CEO Mark Bristow, who became CEO of the merged company.[40]

Newmont Corporation edit

In February 2019, Barrick Gold announced a hostile $19 billion bid to acquire Newmont.[41][42] It was estimated that a merger could create $7 billion of value in operational synergies and would result in a 14% rise in Newmont's net asset value per share.[43] The deal would have created a gold mining company with a market value of about $42 billion that some said would be a long-overdue restructuring of the global gold industry.[44] Merging gold companies could make the industry more attractive to general investors as gold reserves are shrinking across the globe so fewer competitors could boost growth prospects.[45] Newmont rejected the takeover offer and instead suggested the two companies' operations in Nevada, USA, be merged with Newmont CEO Gary Goldberg insisting that the joint venture be operated by Newmont with the two companies dividing the ownership equally.[46] A joint venture was subsequently announced in March 2019 with Barrick as the operator owning 61.5% of the business.[47]

Nevada Gold Mines edit

On July 1, 2019, Barrick and Newmont launched Nevada Gold Mines.[48][49][50] The combined operation is the single largest gold mining complex in the world and employs more than 7,000 people.[51] It combined the mines Goldstrike, Cortez, Turquoise Ridge, and Goldrush from Barrick and Newmont's Carlin, Twin Creeks, Phoenix, Long Canyon sites, plus the associated processing plants and infrastructure of both companies.[52] The joint venture was created after Barrick gave up a takeover bid for Newmont in early 2019.[53]

Nevada Gold Mines in total comprises 10 underground and 12 opencast mines, two autoclave facilities, two roasting facilities, four oxide mills, a flotation plant and five heap leach facilities.[54] Barrick owns 61.5% of the joint venture and operates the business, while Newmont owns 38.5%.[55] It was estimated that $500 million could be saved by creating the joint venture in average annual synergies during the first five years of operating the joint venture.[56] After its first year of operation, $35 million in operating and management costs were saved.[51] Over 20 years, it is estimated that $4.7 billion of total savings will be realised.[56]

Reko Diq Project edit

Pakistan plans to grant Barrick a mining lease, exploration license and surface rights to restart the Reko Diq copper-gold project, it was announced in March 2022.[57] The project when in production has the potential to be one of the top five gold-copper mines in the world.[58] It has the potential to produce 250,000 ounces of gold and 200,000 tons of copper every year for more than half a century and could be in production by 2027.[57] It was estimated that the project site contains up to 42 million ounces of gold and 54 billion pounds of copper in a study done in 2010.[59] The mineral deposit was discovered at the foot of an extinct volcano in the 2000s.[60] Work on the project was stopped in 2011 when a mining license to develop the Reko Diq mine was refused to be granted by Pakistani authorities.[58] Ownership of the mine is to be split evenly between Pakistan and Barrick, which are investing about $10 billion in the project, which is the single largest investment in the country.[58] About 8,000 jobs are expected to be created and about $1 billion will be invested in a new mining technical school along with hospital, schools and roads in the province of Balochistan, which is poor and sparsely populated.[58] Construction of the mine will take place in two phases beginning with a processing plant with the capacity of 40 million tonnes per year and doubling five years after being commissioned.[61]

The federal government of Pakistan and provincial government of Baluchistan have called the agreement with Barrick Gold to develop the Reko Diq copper-gold project the largest investment pact they have ever made.[62] The agreement signed in December 2022 has the province of Baluchistan owning 10% of the project on a free carried basis,[62] 15% on a fully funded basis,[62] 25% by three state-owned enterprises,[62] and 50% by Barrick Gold.[62] Next steps to ramp-up the project include completing the updated feasibility study by the end of 2024[63] with first production of gold and copper to occur in 2028.[63]

Berkshire Hathaway edit

Berkshire Hathaway disclosed that it purchased $562 million in shares of Barrick during the second quarter of 2020, immediately making it the eleventh-largest shareholder in the company.[64] The new position is 20.9 million shares, which is 1.2% of the company's outstanding stock.[65] Berkshire CEO Warren Buffett and his key business partner Charlie Munger have a history of dismissing gold as an attractive investment, saying a fine business run by good managers with cash flows and paying dividends is more productive than the precious metal.[66] Buffett has previously said owning shares of quality companies is more valuable than owning gold itself.[67] Buffett later sold his entire stake in the company in 2021.[68]

Carbon footprint edit

Barrick Gold reported Total CO2e emissions (Direct + Indirect) for 31 December 2020 at 7,351 Kt.[69] It has set a greenhouse gas emissions reduction target of 30% and will be net-zero carbon emissions by 2050.[70] At its operations in the United States, Barrick is transitioning away from coal to natural gas and solar power, in an effort to reduce emissions.[71] Mining companies had been coming under pressure from climate-focused investors to set decarbonization targets.[72] The global mining industry including its biggest companies like Rio Tinto, BHP and Anglo American is responsible for 4% to 7% of greenhouse gas emissions globally.[73]

Operations edit

Gold edit

Property Country Ownership Mine Type 2023 Gold Production (ounces)[1] 2022 Gold Production (ounces)[1] 2022 Gold Reserves (ounces)[1]
Veladero   Argentina 50% Open Pit 160,000 – 180,000 195,000 1.9 million
Hemlo   Canada 100% Open Pit, Underground 150,000 – 170,000 133,000 1.7 million
Tongon   Côte d'Ivoire 89.7% Open Pit 180,000 – 210,000 180,000 560,000
Pueblo Viejo   Dominican Republic 60% Open Pit 470,000 – 520,000 428,000 12 million
Loulo-Gounkoto   Mali 80% Open Pit, Underground 510,000 – 560,000 547,000 6.7 million
Kibali   Democratic Republic of Congo 45% Open Pit, Underground 320,000 – 360,000 337,000 4.6 million
Porgera   Papua New Guinea 47.5% Open Pit, Underground n/a n/a 1.2 million
North Mara   Tanzania 100% Open Pit, Underground 230,000 – 260,000 263,000 3.0 million
Bulyanhulu   Tanzania 100% Underground 160,000 – 190,000 196,000 2.7 million
Nevada Gold Mines   United States 61.5% Open Pit, Underground 1.9 – 2.1 million 1.86 million 29.6 million

Copper edit

Property Country Ownership Mine Type 2023 Copper Production (pounds)[1] 2022 Copper Production (pounds)[1] 2022 Copper Reserves (pounds)[1]
Zaldívar   Chile 50% Open Pit 100 – 110 million 98 million 1.9 billion
Jabal Sayid   Saudi Arabia 50% Underground 65 – 75 million 75 million 670 million
Lumwana   Zambia 100% Open Pit 260 – 290 million 267 million 6.2 billion

Former operations edit

Mining practices edit

Environmental and human rights violations have taken place around a number of mining operations that are now closed or were previously operated by a different company, including violence in Papua New Guinea and Tanzania.[74][75][76] Forty people were arrested in Chile following a demonstration against the potential environmental impacts of a mining project that has not been built.[77] Executives of Acacia Mining, which had mining operations in Tanzania and was acquired in 2019, had faced charges of bribery, conspiracy, forgery, money-laundering, tax-evasion and environmental damage.[78][79][80][81] There has also been small groups of opposition in the Dominican Republic.[82]

Voluntary Principles on Security and Human Rights edit

In 2010, Barrick Gold Corporation became the 18th company to join the Voluntary Principles on Security and Human Rights[83] which provides "guidance to extractives companies on maintaining the security of their operations in a manner that respects human rights and fundamental freedoms."[84] Admission follows an eight step process that requires approval by the Voluntary Principles plenary,[85] the main decision-making body, consisting of all active members, drawn from participating governments, companies and non-governmental organizations.[86] Barrick Gold participates in a number of corporate social responsibility programs, such as the United Nations Global Compact.[87] The company is a signatory to the Extractive Industries Transparency Initiative.[88] It also participates in , Business for Social Responsibility[89] and The Global Business Coalition on HIV/Aids, Tuberculosis and Malaria.[90] On September 7, 2007, Barrick was added to the Dow Jones Sustainability Index.[91] The company is a member of The International Leadership Council (ILC) of The Nature Conservancy.[92] In Papua New Guinea, the Porgera Joint Venture participated in the development of a wildlife conservation area in the Kaijende Highlands.[93]

Argentina edit

Environment edit

Between 2015 and 2017, three separate incidents occurred where processing solution escaped the leach pad area.[94] In September 2015, 1,072m3 of processing solution was released from a faulty valve on a pipe going to the heap leach pad and was not diverted to the tailings storage facility because of a malfunctioning gate.[95] In September 2016, a pipe carrying processing solution was struck by falling ice that had rolled down a slope,[96] and in March 2017, a pipe carrying a mixture of rocks came loose.[97] After the first accident in 2015, local judge Pablo Oritja of Argentina indicted nine employees, and a fine of $9.8 million was levied.[98] Authorities in San Juan province responded with plans to re-engineer some operational and environmental processes at the mine, which were audited by local and international experts.[99] The National Observer obtained court documents with allegations from a former employee that his employment was terminated soon after concerns were raised about health and safety and environmental practices in 2014.[100]

2016 Class Action Lawsuit edit

A U.S. class-action lawsuit was launched in 2016 accusing the company of fraudulently inflating its market value by concealing problems at Pascua Lama, a South American mine under development.[101] Development of the mine was indefinitely halted on October 31, 2013, and people who purchased shares between May 7, 2009, and November 1, 2013, were part of the class-action lawsuit.[102] Development was halted for a number of issues including cost overruns, environmental concerns and the falling price of gold that would have made the operation less economical.[102] A $140 million settlement was reached two months later with no charges of wrongdoing or liability and the company stating the claims alleged by the lead plaintiffs are unfounded.[101]

Canada edit

Talonbooks edit

In February 2010, lawyers for Barrick Gold threatened to sue the Canadian publisher Talonbooks for defamation if it proceeded with plans to publish the book Imperial Canada Inc.: Legal Haven of Choice for the World's Mining Industries by Alain Deneault.[103] Publisher Karl Siegler described this as "libel chill," pointing out that since the book had not yet been published, Barrick Gold could not know whether or not its contents actually constituted defamation.[104] Subsequently, Talon decided to publish the work (ISBN 9780889226357)[105] and "issued a statement saying they 'intend to show the complete manuscript to Barrick prior to the book's release, to allow Barrick the opportunity to "correct" any "falsehoods" about how they conduct their business affairs, worldwide, that they feel it may contain.'"[103]

Noir Canada edit

A 2011 decision in Quebec Superior Court had ruled that Barrick Gold had to pay $143,000 to authors Alain Deneault, Delphine Abadie, William Sacher, and publisher Les Éditions Écosociété Inc to prepare their defense in a "seemingly abusive" strategic lawsuit against public participation. Despite the Québec ruling, a book "Noir Canada" documenting the relationship between Canadian mining corporations, armed conflict, and political actors in Africa was never published as part of a settlement which, according to the authors, was only made for the sole purpose of resolving the three-and-a-half year legal battle.[106]

Papua New Guinea - Porgera Gold Mine edit

Main article: Porgera Gold Mine

Human Rights Abuses edit

In 2011, Human Rights Watch, a New York City-based international non-governmental organization that conducts research on human rights, found a pattern of abuses perpetrated by private and public law-enforcement personnel in 2009 and 2010 in the Porgera Gold Mine in Papua New Guinea.[107] Human Rights Watch says that violent insecurity is a “chronic problem” around Porgera due to people engaging in illegal mining and continuously raiding various areas of the mining property including the open pit, stockpile areas for rock, waste dumps, and underground tunnels.[108] Human Rights Watch said the government of Papua New Guinea has “consistently failed” to maintain law and order in the area and that responsible government regulation was the one essential component still lacking to manage the unstable social situation in the area.[107] On the same day Human Rights Watch published its report, the company said it had been working with Human Rights Watch for six months on a series of actions in response to the investigation, which included improvements to the security environment, enhanced human rights training, and grievance mechanisms.[109] A “remedy framework” called the Porgera Remedy Framework was set up as an alternative to the local judicial system to deliver compensation packages.[110]

In June 2014, Amnesty International reported that local police forced evictions by way of arson from land adjacent to the mine.[111] The report said that community leaders presumed the alleged actions by the police were an effort to prevent illegal mining.[112]

In 2022 Canadaland reported that hundreds of women reported being raped at the mine by security contractors.[20] According to journalist Richard Poplak, interviewed by Canadland in 2022, guards at the mine used sexual violence against women as a policy to deter them from the mine.[20] The policy, according to Poplak, started in 2003 or 2004 (before Barrick's ownership) and increased in implementation after Barrick bought the mine.[20]

Peter Munk prevented intervention by a shareholder proxy from speaking at the 2008 shareholder meeting about her reports of deadly violence and sexual violence from security contractors and took until 2010 to accept the reports were true.[20] A compensation scheme was set up and paid 119 survivors of sexual violence around CAD$8,000 per person on the condition that they agreed not to sue Barrick Gold.[20]

Ownership edit

Soon after the Human Rights Watch 2011 publication, the mine, which was owned jointly by Barrick, Zijin Mining Group of China, and local landowners through Mineral Resources Enga, was nationalized by the government of Papua New Guinea under Prime Minister James Marape when the government did not renew the mining lease, and it expired in August 2019.[113] The gold mine, which contributes about 10% of Papua New Guinea's total exports, was seen by Prime Minister James Marape as a way for the country to get a greater share of its major natural resource projects.[114] In response, Barrick Gold sued the government in the Papua New Guinea courts and in an industrial tribunal.[20] The government backed down after negotiating a greater ownership share in the joint venture.[20]

Environmental concerns edit

At the Porgera Joint Venture in Papua New Guinea, the material that remains after extracting gold from ore is processed into tailings and sent off the mining property.[115] Critics say the tailings disposal method could release harmful materials in a way that would not be allowed under the water quality expectations of a developed country.[115] The Porgera Joint Venture is one of three large mines that dispose of tailings in this way in the country.[115]

Peru edit

In February 2021, Barrick Gold announced it would sell its Lagunas Norte mine in Peru.[116] The mine is sold to Boroo Pte Ltd. for up to US$81 million.

Water edit

The BBC reported in September 2012 that one person was killed and at least four more were injured at the Barrick Pierina mine in the northern Ancash region of Peru in clashes between national police and members of a neighboring community who were protesting the mine's alleged over-consumption and contamination of local water sources during a drought.[117] Villagers from the communities of Mareniyoc and San Isidro blocked an access road to the mine and entered the property by forcing open the mine gate.[118] Community members asked that the mine provide the communities with drinking water.[119] Operations at the mine resumed after two days.[118]

United States edit

Cortez Hills edit

Through 2009 and into 2010, Barrick Gold's Cortez Hills project was the subject of litigation in Nevada, seeking to block the project.[120] Opponents appealed to the United States Court of Appeals for the Ninth Circuit, challenging a ruling in the United States District Court for the District of Nevada, which denied the bid to block the project.[121] The Appeals Court "upheld a federal judge's finding that opponents of the mine failed to prove they were likely to prevail on claims the mine would cause visual harm to Mount Tenabo and create a substantial burden on the tribes' ability to exercise their religion" but ruled the U.S. Bureau of Land Management's previous environmental review of water and air pollution impacts "was inadequate under the National Environmental Policy Act" and ordered the District Court to provide "appropriate" injunctive relief while the Bureau of Land Management conducted further study.[122] In March 2011 the Bureau of Land Management approved a subsequent study on environmental impacts, allowing the mine to operate as originally proposed.[123]

Western Shoshone edit

In 2008, the company negotiated an agreement with four of five regional Western Shoshone tribes, providing financial resources for education and wellness initiatives, including a long-term scholarship program, allocated at the Tribes' discretion.[124] A former tribal chairman of the Duck Valley Shoshone spoke of the company as "a pretty progressive entity."[125] In British Columbia the Tahltan Nation has thanked the company for encouraging local sustainable development while operating the Eskay Creek mine from 2001 to 2008.[126][127]

See also edit

References edit

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Further reading edit

  • Rohmer, Richard (1997). Golden Phoenix: The Biography of Peter Munk. Toronto: Key Porter Books. ISBN 1-55013-912-6.

External links edit

 
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February 16, 2024
barrick, gold, corporation, mining, company, that, produces, gold, copper, with, operating, sites, countries, headquartered, toronto, ontario, canada, mining, operations, argentina, canada, chile, côte, ivoire, democratic, republic, congo, dominican, republic,. Barrick Gold Corporation is a mining company that produces gold and copper with 16 operating sites in 13 countries 4 It is headquartered in Toronto Ontario Canada 5 It has mining operations in Argentina Canada Chile Cote d Ivoire Democratic Republic of the Congo Dominican Republic Mali Papua New Guinea Saudi Arabia Tanzania the United States and Zambia 6 In 2019 it produced 5 5 million ounces of gold at all in sustaining costs of 894 ounce 7 and 432 million pounds of copper at all in sustaining costs of 2 52 pound 8 As of 31 December 2019 update the company had 71 million ounces of proven and probable gold reserves 9 Barrick GoldBarrick Hemlo mine in Ontario CanadaCompany typePublicTraded asTSX ABX S amp P TSX 60 component NYSE GOLDIndustryMetals and miningFounded1983 41 years ago 1983 FounderPeter MunkHeadquartersToronto Ontario CanadaKey peopleJohn L Thornton Executive Chairman Mark Bristow President and Chief Executive Officer ProductsGold silver copperRevenueUS 11 013 billion Fiscal Year Ended December 31 2022 1 Operating incomeUS 3 481 billion Fiscal Year Ended December 31 2022 1 Net incomeUS 432 million Fiscal Year Ended December 31 2022 1 Total assetsUS 45 695 billion Fiscal Year Ended December 31 2022 2 Total equityUS 31 289 billion Fiscal Year Ended December 31 2022 1 Number of employees18 421 3 Websitewww wbr barrick wbr com wbr English wbr home wbr default wbr aspxBarrick has met or beaten market consensus on its financial and operating results for eleven consecutive quarters as of Q3 2021 10 Barrick had been the world s largest gold mining company until Newmont acquired Goldcorp in 2019 11 Barrick expects to produce between 4 6 and five million ounces of gold and between 440 and 500 million pounds of copper in 2020 12 Chief executive Mark Bristow said in 2020 that Barrick has debated moving its primary stock listing to the New York Stock Exchange from the Toronto Stock Exchange broadening its exposure to potential investors 13 Contents 1 History 1 1 Founding and early years 1 1 1 Barrick Resources 1 2 1986 to 2005 1 2 1 Goldstrike 1 2 2 American Barrick 1 2 3 Barrick Gold Corporation 1 3 Placer Dome acquisition 1 4 2006 to present 1 4 1 African Barrick Gold 1 4 2 Equinox Minerals 1 4 3 Shandong Gold 1 4 4 Randgold Resources 1 4 5 Newmont Corporation 1 4 6 Nevada Gold Mines 1 4 7 Reko Diq Project 2 Berkshire Hathaway 3 Carbon footprint 4 Operations 4 1 Gold 4 2 Copper 4 3 Former operations 5 Mining practices 5 1 Voluntary Principles on Security and Human Rights 5 2 Argentina 5 2 1 Environment 5 2 2 2016 Class Action Lawsuit 5 3 Canada 5 3 1 Talonbooks 5 3 2 Noir Canada 5 4 Papua New Guinea Porgera Gold Mine 5 4 1 Human Rights Abuses 5 4 2 Ownership 5 4 3 Environmental concerns 5 5 Peru 5 5 1 Water 5 6 United States 5 6 1 Cortez Hills 5 6 2 Western Shoshone 6 See also 7 References 8 Further reading 9 External linksHistory editFounding and early years edit Barrick Resources edit Barrick Gold Corporation evolved from a privately held North American oil and gas company 14 Barrick Resources 15 After suffering financial losses in oil and gas 16 founder Peter Munk 1927 2018 decided to refocus the company on gold 17 Barrick Resources Corporation became a publicly traded company on May 2 1983 18 listing on the Toronto Stock Exchange 19 The company was set up not as a conventional mining company but a mergers and acquisitions entity that bought mining companies 20 1986 to 2005 edit Goldstrike edit Main article Goldstrike mine In the 1980s Barrick Gold purchased Goldstrike which was a rapid success making Barrick one of the biggest gold mining companies globally American Barrick edit Reflecting its identity as a North American producer distinct from its South African competitors the company s name was changed to American Barrick Resources in 1986 21 It was listed on the New York Stock Exchange in February 1987 22 Its name was changed to Barrick Gold Corporation in 1995 23 Barrick Gold Corporation edit American Barrick became the third largest gold mining company in the world when it acquired Lac Minerals in 1994 which owned mining properties in North and South America 24 Two years later in 1996 Arequipa Resources owner of properties including the Pierina mine in Peru accepted a takeover offer from the renamed Barrick Gold Corporation A third acquisition followed in early 1999 when Barrick Gold acquired Sutton Resources Ltd assuming ownership of properties in Tanzania 25 In 2001 Barrick acquired Homestake Mining Company for 2 3 billion in stock then one of the oldest mining companies in the United States 26 The purchase made Barrick the second largest gold producer in the world 26 Placer Dome acquisition edit In December 2005 Barrick launched a hostile takeover bid valued at US 9 2 billion for rival Canadian gold miner Placer Dome 27 The 10 4 billion transaction closed in December 2006 28 29 The procurement made Barrick the owner of the Porgera Gold Mine in Papua New Guinea 20 Shortly after the merger Barrick seeking increased profitability terminated many of the staff at Placer Dome who led the community relations work 20 2006 to present edit African Barrick Gold edit In February 2010 Barrick Gold announced plans to create a separate company to hold its assets in Tanzania called African Barrick Gold 30 Barrick Gold would retain majority ownership in the new company after its listing on the London Stock Exchange LSE 30 African Barrick Gold was listed on the London Stock Exchange in mid March 2010 with an IPO valuation at US 3 6 billion 31 The shares offered on the LSE raised just more than 500 million pounds 32 In June the company was admitted to the FTSE 100 Index 33 Equinox Minerals edit In April 2011 Barrick beat a takeover offer for Equinox Minerals by China Minmetals 34 35 Shandong Gold edit In 2018 John L Thornton orchestrated a strategic trust based relationship between Barrick Gold and Shandong Gold Group a Chinese state owned enterprise establishing joint ownership of the Veladero mine to capitalize on Shandong s investor base capital suppliers political connections and regional influence In the press release announcing the partnership Thornton said that Barrick and Shandong were looking forward to sharing capital in ways that will create added value for our respective owners and our government and community partners in San Juan province 36 Randgold Resources edit In September 2018 Barrick Gold announced an all stock merger with Randgold Resources in a deal valued at 6 5 billion 37 38 Immediately following the announcement of the merger Randgold shares rose 6 and Barrick shares rose 5 6 39 The deal created the world s largest gold producer with the new company listed on the Toronto Stock Exchange and New York Stock Exchange 39 The companies began talking about a combination in 2015 and the deal was orchestrated by Barrick Executive Chairman John L Thornton and Randgold Founder and CEO Mark Bristow who became CEO of the merged company 40 Newmont Corporation edit In February 2019 Barrick Gold announced a hostile 19 billion bid to acquire Newmont 41 42 It was estimated that a merger could create 7 billion of value in operational synergies and would result in a 14 rise in Newmont s net asset value per share 43 The deal would have created a gold mining company with a market value of about 42 billion that some said would be a long overdue restructuring of the global gold industry 44 Merging gold companies could make the industry more attractive to general investors as gold reserves are shrinking across the globe so fewer competitors could boost growth prospects 45 Newmont rejected the takeover offer and instead suggested the two companies operations in Nevada USA be merged with Newmont CEO Gary Goldberg insisting that the joint venture be operated by Newmont with the two companies dividing the ownership equally 46 A joint venture was subsequently announced in March 2019 with Barrick as the operator owning 61 5 of the business 47 Nevada Gold Mines edit On July 1 2019 Barrick and Newmont launched Nevada Gold Mines 48 49 50 The combined operation is the single largest gold mining complex in the world and employs more than 7 000 people 51 It combined the mines Goldstrike Cortez Turquoise Ridge and Goldrush from Barrick and Newmont s Carlin Twin Creeks Phoenix Long Canyon sites plus the associated processing plants and infrastructure of both companies 52 The joint venture was created after Barrick gave up a takeover bid for Newmont in early 2019 53 Nevada Gold Mines in total comprises 10 underground and 12 opencast mines two autoclave facilities two roasting facilities four oxide mills a flotation plant and five heap leach facilities 54 Barrick owns 61 5 of the joint venture and operates the business while Newmont owns 38 5 55 It was estimated that 500 million could be saved by creating the joint venture in average annual synergies during the first five years of operating the joint venture 56 After its first year of operation 35 million in operating and management costs were saved 51 Over 20 years it is estimated that 4 7 billion of total savings will be realised 56 Reko Diq Project edit Pakistan plans to grant Barrick a mining lease exploration license and surface rights to restart the Reko Diq copper gold project it was announced in March 2022 57 The project when in production has the potential to be one of the top five gold copper mines in the world 58 It has the potential to produce 250 000 ounces of gold and 200 000 tons of copper every year for more than half a century and could be in production by 2027 57 It was estimated that the project site contains up to 42 million ounces of gold and 54 billion pounds of copper in a study done in 2010 59 The mineral deposit was discovered at the foot of an extinct volcano in the 2000s 60 Work on the project was stopped in 2011 when a mining license to develop the Reko Diq mine was refused to be granted by Pakistani authorities 58 Ownership of the mine is to be split evenly between Pakistan and Barrick which are investing about 10 billion in the project which is the single largest investment in the country 58 About 8 000 jobs are expected to be created and about 1 billion will be invested in a new mining technical school along with hospital schools and roads in the province of Balochistan which is poor and sparsely populated 58 Construction of the mine will take place in two phases beginning with a processing plant with the capacity of 40 million tonnes per year and doubling five years after being commissioned 61 The federal government of Pakistan and provincial government of Baluchistan have called the agreement with Barrick Gold to develop the Reko Diq copper gold project the largest investment pact they have ever made 62 The agreement signed in December 2022 has the province of Baluchistan owning 10 of the project on a free carried basis 62 15 on a fully funded basis 62 25 by three state owned enterprises 62 and 50 by Barrick Gold 62 Next steps to ramp up the project include completing the updated feasibility study by the end of 2024 63 with first production of gold and copper to occur in 2028 63 Berkshire Hathaway editBerkshire Hathaway disclosed that it purchased 562 million in shares of Barrick during the second quarter of 2020 immediately making it the eleventh largest shareholder in the company 64 The new position is 20 9 million shares which is 1 2 of the company s outstanding stock 65 Berkshire CEO Warren Buffett and his key business partner Charlie Munger have a history of dismissing gold as an attractive investment saying a fine business run by good managers with cash flows and paying dividends is more productive than the precious metal 66 Buffett has previously said owning shares of quality companies is more valuable than owning gold itself 67 Buffett later sold his entire stake in the company in 2021 68 Carbon footprint editBarrick Gold reported Total CO2e emissions Direct Indirect for 31 December 2020 at 7 351 Kt 69 It has set a greenhouse gas emissions reduction target of 30 and will be net zero carbon emissions by 2050 70 At its operations in the United States Barrick is transitioning away from coal to natural gas and solar power in an effort to reduce emissions 71 Mining companies had been coming under pressure from climate focused investors to set decarbonization targets 72 The global mining industry including its biggest companies like Rio Tinto BHP and Anglo American is responsible for 4 to 7 of greenhouse gas emissions globally 73 Operations editGold edit Property Country Ownership Mine Type 2023 Gold Production ounces 1 2022 Gold Production ounces 1 2022 Gold Reserves ounces 1 Veladero nbsp Argentina 50 Open Pit 160 000 180 000 195 000 1 9 millionHemlo nbsp Canada 100 Open Pit Underground 150 000 170 000 133 000 1 7 millionTongon nbsp Cote d Ivoire 89 7 Open Pit 180 000 210 000 180 000 560 000Pueblo Viejo nbsp Dominican Republic 60 Open Pit 470 000 520 000 428 000 12 millionLoulo Gounkoto nbsp Mali 80 Open Pit Underground 510 000 560 000 547 000 6 7 millionKibali nbsp Democratic Republic of Congo 45 Open Pit Underground 320 000 360 000 337 000 4 6 millionPorgera nbsp Papua New Guinea 47 5 Open Pit Underground n a n a 1 2 millionNorth Mara nbsp Tanzania 100 Open Pit Underground 230 000 260 000 263 000 3 0 millionBulyanhulu nbsp Tanzania 100 Underground 160 000 190 000 196 000 2 7 millionNevada Gold Mines nbsp United States 61 5 Open Pit Underground 1 9 2 1 million 1 86 million 29 6 millionCopper edit Property Country Ownership Mine Type 2023 Copper Production pounds 1 2022 Copper Production pounds 1 2022 Copper Reserves pounds 1 Zaldivar nbsp Chile 50 Open Pit 100 110 million 98 million 1 9 billionJabal Sayid nbsp Saudi Arabia 50 Underground 65 75 million 75 million 670 millionLumwana nbsp Zambia 100 Open Pit 260 290 million 267 million 6 2 billionFormer operations edit Asset CountryBald Mountain mine nbsp United StatesRound Mountain Gold Mine 50 nbsp United StatesRuby Hill nbsp United StatesKalgoorlie Super Pit nbsp AustraliaPlutonic Gold Mine nbsp AustraliaCowal New South Wales nbsp AustraliaDarlot Gold Mine nbsp AustraliaPierina Ancash nbsp PeruTulawaka nbsp TanzaniaMining practices editEnvironmental and human rights violations have taken place around a number of mining operations that are now closed or were previously operated by a different company including violence in Papua New Guinea and Tanzania 74 75 76 Forty people were arrested in Chile following a demonstration against the potential environmental impacts of a mining project that has not been built 77 Executives of Acacia Mining which had mining operations in Tanzania and was acquired in 2019 had faced charges of bribery conspiracy forgery money laundering tax evasion and environmental damage 78 79 80 81 There has also been small groups of opposition in the Dominican Republic 82 Voluntary Principles on Security and Human Rights edit In 2010 Barrick Gold Corporation became the 18th company to join the Voluntary Principles on Security and Human Rights 83 which provides guidance to extractives companies on maintaining the security of their operations in a manner that respects human rights and fundamental freedoms 84 Admission follows an eight step process that requires approval by the Voluntary Principles plenary 85 the main decision making body consisting of all active members drawn from participating governments companies and non governmental organizations 86 Barrick Gold participates in a number of corporate social responsibility programs such as the United Nations Global Compact 87 The company is a signatory to the Extractive Industries Transparency Initiative 88 It also participates in The Global Reporting Initiative Business for Social Responsibility 89 and The Global Business Coalition on HIV Aids Tuberculosis and Malaria 90 On September 7 2007 Barrick was added to the Dow Jones Sustainability Index 91 The company is a member of The International Leadership Council ILC of The Nature Conservancy 92 In Papua New Guinea the Porgera Joint Venture participated in the development of a wildlife conservation area in the Kaijende Highlands 93 Argentina edit Environment edit Between 2015 and 2017 three separate incidents occurred where processing solution escaped the leach pad area 94 In September 2015 1 072m3 of processing solution was released from a faulty valve on a pipe going to the heap leach pad and was not diverted to the tailings storage facility because of a malfunctioning gate 95 In September 2016 a pipe carrying processing solution was struck by falling ice that had rolled down a slope 96 and in March 2017 a pipe carrying a mixture of rocks came loose 97 After the first accident in 2015 local judge Pablo Oritja of Argentina indicted nine employees and a fine of 9 8 million was levied 98 Authorities in San Juan province responded with plans to re engineer some operational and environmental processes at the mine which were audited by local and international experts 99 The National Observer obtained court documents with allegations from a former employee that his employment was terminated soon after concerns were raised about health and safety and environmental practices in 2014 100 2016 Class Action Lawsuit edit A U S class action lawsuit was launched in 2016 accusing the company of fraudulently inflating its market value by concealing problems at Pascua Lama a South American mine under development 101 Development of the mine was indefinitely halted on October 31 2013 and people who purchased shares between May 7 2009 and November 1 2013 were part of the class action lawsuit 102 Development was halted for a number of issues including cost overruns environmental concerns and the falling price of gold that would have made the operation less economical 102 A 140 million settlement was reached two months later with no charges of wrongdoing or liability and the company stating the claims alleged by the lead plaintiffs are unfounded 101 Canada edit Talonbooks edit In February 2010 lawyers for Barrick Gold threatened to sue the Canadian publisher Talonbooks for defamation if it proceeded with plans to publish the book Imperial Canada Inc Legal Haven of Choice for the World s Mining Industries by Alain Deneault 103 Publisher Karl Siegler described this as libel chill pointing out that since the book had not yet been published Barrick Gold could not know whether or not its contents actually constituted defamation 104 Subsequently Talon decided to publish the work ISBN 9780889226357 105 and issued a statement saying they intend to show the complete manuscript to Barrick prior to the book s release to allow Barrick the opportunity to correct any falsehoods about how they conduct their business affairs worldwide that they feel it may contain 103 Noir Canada edit A 2011 decision in Quebec Superior Court had ruled that Barrick Gold had to pay 143 000 to authors Alain Deneault Delphine Abadie William Sacher and publisher Les Editions Ecosociete Inc to prepare their defense in a seemingly abusive strategic lawsuit against public participation Despite the Quebec ruling a book Noir Canada documenting the relationship between Canadian mining corporations armed conflict and political actors in Africa was never published as part of a settlement which according to the authors was only made for the sole purpose of resolving the three and a half year legal battle 106 Papua New Guinea Porgera Gold Mine edit Main article Porgera Gold Mine Human Rights Abuses edit In 2011 Human Rights Watch a New York City based international non governmental organization that conducts research on human rights found a pattern of abuses perpetrated by private and public law enforcement personnel in 2009 and 2010 in the Porgera Gold Mine in Papua New Guinea 107 Human Rights Watch says that violent insecurity is a chronic problem around Porgera due to people engaging in illegal mining and continuously raiding various areas of the mining property including the open pit stockpile areas for rock waste dumps and underground tunnels 108 Human Rights Watch said the government of Papua New Guinea has consistently failed to maintain law and order in the area and that responsible government regulation was the one essential component still lacking to manage the unstable social situation in the area 107 On the same day Human Rights Watch published its report the company said it had been working with Human Rights Watch for six months on a series of actions in response to the investigation which included improvements to the security environment enhanced human rights training and grievance mechanisms 109 A remedy framework called the Porgera Remedy Framework was set up as an alternative to the local judicial system to deliver compensation packages 110 In June 2014 Amnesty International reported that local police forced evictions by way of arson from land adjacent to the mine 111 The report said that community leaders presumed the alleged actions by the police were an effort to prevent illegal mining 112 In 2022 Canadaland reported that hundreds of women reported being raped at the mine by security contractors 20 According to journalist Richard Poplak interviewed by Canadland in 2022 guards at the mine used sexual violence against women as a policy to deter them from the mine 20 The policy according to Poplak started in 2003 or 2004 before Barrick s ownership and increased in implementation after Barrick bought the mine 20 Peter Munk prevented intervention by a shareholder proxy from speaking at the 2008 shareholder meeting about her reports of deadly violence and sexual violence from security contractors and took until 2010 to accept the reports were true 20 A compensation scheme was set up and paid 119 survivors of sexual violence around CAD 8 000 per person on the condition that they agreed not to sue Barrick Gold 20 Ownership edit Soon after the Human Rights Watch 2011 publication the mine which was owned jointly by Barrick Zijin Mining Group of China and local landowners through Mineral Resources Enga was nationalized by the government of Papua New Guinea under Prime Minister James Marape when the government did not renew the mining lease and it expired in August 2019 113 The gold mine which contributes about 10 of Papua New Guinea s total exports was seen by Prime Minister James Marape as a way for the country to get a greater share of its major natural resource projects 114 In response Barrick Gold sued the government in the Papua New Guinea courts and in an industrial tribunal 20 The government backed down after negotiating a greater ownership share in the joint venture 20 Environmental concerns edit At the Porgera Joint Venture in Papua New Guinea the material that remains after extracting gold from ore is processed into tailings and sent off the mining property 115 Critics say the tailings disposal method could release harmful materials in a way that would not be allowed under the water quality expectations of a developed country 115 The Porgera Joint Venture is one of three large mines that dispose of tailings in this way in the country 115 Peru edit In February 2021 Barrick Gold announced it would sell its Lagunas Norte mine in Peru 116 The mine is sold to Boroo Pte Ltd for up to US 81 million Water edit The BBC reported in September 2012 that one person was killed and at least four more were injured at the Barrick Pierina mine in the northern Ancash region of Peru in clashes between national police and members of a neighboring community who were protesting the mine s alleged over consumption and contamination of local water sources during a drought 117 Villagers from the communities of Mareniyoc and San Isidro blocked an access road to the mine and entered the property by forcing open the mine gate 118 Community members asked that the mine provide the communities with drinking water 119 Operations at the mine resumed after two days 118 United States edit Cortez Hills edit Through 2009 and into 2010 Barrick Gold s Cortez Hills project was the subject of litigation in Nevada seeking to block the project 120 Opponents appealed to the United States Court of Appeals for the Ninth Circuit challenging a ruling in the United States District Court for the District of Nevada which denied the bid to block the project 121 The Appeals Court upheld a federal judge s finding that opponents of the mine failed to prove they were likely to prevail on claims the mine would cause visual harm to Mount Tenabo and create a substantial burden on the tribes ability to exercise their religion but ruled the U S Bureau of Land Management s previous environmental review of water and air pollution impacts was inadequate under the National Environmental Policy Act and ordered the District Court to provide appropriate injunctive relief while the Bureau of Land Management conducted further study 122 In March 2011 the Bureau of Land Management approved a subsequent study on environmental impacts allowing the mine to operate as originally proposed 123 Western Shoshone edit In 2008 the company negotiated an agreement with four of five regional Western Shoshone tribes providing financial resources for education and wellness initiatives including a long term scholarship program allocated at the Tribes discretion 124 A former tribal chairman of the Duck Valley Shoshone spoke of the company as a pretty progressive entity 125 In British Columbia the Tahltan Nation has thanked the company for encouraging local sustainable development while operating the Eskay Creek mine from 2001 to 2008 126 127 See also edit nbsp Companies portalGregory Charles Wilkins Porgera Gold Mine Pueblo Viejo mine Veladero mineReferences edit a b c d e f g h i j Annual Report 2022 PDF Barrick Gold Corporation March 17 2023 Archived PDF from the original on April 1 2023 Retrieved March 23 2023 Annual Report 2022 PDF Barrick Gold Corporation March 17 2023 Retrieved March 23 2023 Forbes com Forbes Archived from the original on October 24 2020 Retrieved September 20 2020 2019 Annual Report PDF Barrick Gold Corporation Archived from the original PDF on October 8 2021 Retrieved July 24 2020 1 Archived December 8 2022 at the Wayback Machine Barrick Gold Corporation Operations Archived from the original on December 20 2016 Retrieved December 19 2016 Barrick Gold Corporation Company Archived from the original on June 1 2016 Retrieved December 19 2016 Barrick tops profit forecasts on higher gold prices hikes dividend The Globe and Mail February 12 2020 Archived from the original on April 1 2023 Retrieved February 12 2020 Barrick beats forecasts hikes dividend by 40 as gold prices soar Mining com February 12 2020 Archived from the original on February 12 2020 Retrieved February 12 2020 Barrick Gold 4Q Earnings Top Estimates Dividend Hiked Kitco News February 12 2020 Archived from the original on February 12 2020 Retrieved February 12 2020 Creamer Martin November 4 2021 Barrick Installing Solar Power in Nevada Eliminating Coal Fired Power Mining Weekly Archived from the original on November 10 2021 Retrieved February 14 2022 McNish Jacquie MacDonald Alistair January 14 2019 Newmont to Buy Goldcorp Creating World s Largest Gold Miner Wall Street Journal Archived from the original on July 21 2020 Retrieved July 24 2020 Jamasmie Cecilia May 6 2020 Barrick Cuts 2020 Guidance Faces 191M Bill in PNG Mining com Archived from the original on August 15 2022 Retrieved February 14 2022 MacDonald Alistair August 5 2020 Canada s Barrick Gold Considers Switching Primary Stock Listing to NYSE The Wall Street Journal Archived from the original on August 5 2020 Retrieved August 5 2020 Rohmer pp 191 192 Rohmer p 193 Rohmer p 198 Rohmer p 197 Abrams Ovid May 19 2008 Barrick grows from zero to 8 million oz of output in 25 years Metals Week Mining Claim Abstract Transaction Listing Ontario Ministry of Northern Development Mines and Forestry July 14 1984 Archived from the original on July 6 2011 Retrieved September 29 2009 a b c d e f g h i j MINING 7 Barrick and the Cruelty of Gold CANADALAND Archived from the original on March 18 2022 Retrieved February 26 2022 Rohmer pp 232 233 Rohmer p 235 Rohmer p 291 Farnsworth Clyde H August 25 1994 Lac Minerals Agrees to Friendly Takeover The New York Times Archived from the original on July 4 2015 Retrieved September 16 2009 Barrick Gold to Buy Sutton Resources for 350 Million The New York Times February 19 1999 Archived from the original on February 10 2016 Retrieved September 16 2009 a b DePalma Anthony June 26 2001 Canadian Company to Buy A U S Miner for 2 3 Billion The New York Times Archived from the original on March 23 2012 Retrieved September 16 2009 Barrick launches bid for Placer Dome Canadianminingjournal com October 31 2005 Archived from the original on August 3 2017 Retrieved December 31 2018 Placer Dome accepts Barrick s sweetened 10 4B US takeover bid CBC News December 22 2005 Archived from the original on August 9 2007 Retrieved October 1 2009 Choy Leng Yeong August 2 2006 Barrick Profit Surges to Record as Gold Price Rallies Update2 Bloomberg Archived from the original on April 1 2023 Retrieved October 1 2009 a b Bieshuevel Thomas February 18 2010 Barrick Spinoff to Create Biggest UK Gold Miner Update 3 Business Week Bloomberg Archived from the original on July 9 2013 Retrieved July 9 2013 African Barrick Gold IPO priced at 575 pence Reuters March 19 2010 Retrieved August 16 2010 Ku Daisy Crust Julie March 20 2010 African Barrick s IPO bought up fully in London The Star Toronto Archived from the original on March 23 2010 Retrieved August 16 2010 African Barrick Gold and Essar Energy to join FTSE 100 June 9 2010 Archived from the original on June 14 2011 Retrieved August 16 2010 Equinox rejects Minmetals April 11 2011 Archived from the original on March 18 2012 Retrieved April 11 2011 Barrick Gold beats Minmetals to buy Equinox Minerals BBC News April 25 2011 Archived from the original on April 26 2011 Retrieved April 25 2011 Barrick Announces Strategic Cooperation Agreement with Shandong Gold barrick com April 6 2017 Archived from the original on December 6 2019 Retrieved December 6 2019 Shabalala Zandi and Justin George Varghese and Clara Denina September 24 2018 Canada s Barrick Gold to buy Randgold for 6 5 billion Reuters Archived from the original on August 1 2019 Retrieved September 24 2018 Shabalala Zandi Varghese Justin George Denina Clara Canada s Barrick Gold to buy Randgold Resources in 18 3 billion deal U S Archived from the original on August 1 2019 Retrieved September 24 2018 a b Shabalala Zandi Varghese Justin George Denina Clara September 24 2018 Canada s Barrick Gold to buy Randgold for 6 5 billion Reuters Archived from the original on February 5 2022 Patterson Scott McNish Jacquie September 24 2018 Gold Giant Barrick Agrees to Buy Rival Randgold for 6 Billion The Wall Street Journal Archived from the original on September 24 2018 Newmont Goldcorp or Barrick Gold Who is Winning the Gold War Forbes September 30 2019 Archived from the original on November 22 2019 Retrieved December 6 2019 Sprouse William February 25 2019 Barrick Gold Proposes Merger with Newmont CFO com Archived from the original on December 6 2019 Retrieved December 6 2019 Franck Thomas DiChristopher Tom February 25 2019 Barrick Gold launches unsolicited bid to acquire Newmont in all stock mining deal CNBC Archived from the original on January 17 2022 Vella Heidi April 2 2019 Wrestle mania inside the Goldcorp Newmont Barrick mega deal Mining Technology Archived from the original on December 6 2019 Scheyder Ernest February 25 2019 Barrick CEO defends 18 billion hostile Newmont bid as logical tie up Reuters Archived from the original on September 10 2022 MacDonald Alistair McNish Jacquie March 4 2019 Nevada s Gold Is at Center of Barrick vs Newmont Fight The Wall Street Journal Archived from the original on September 23 2021 Friedman Gabriel March 11 2019 Is the Barrick Newmont joint venture a stepping stone to a bigger deal Financial Post Archived from the original on May 18 2022 Barrick and Newmont Goldcorp Launch New Company Nevada Gold Mines Mining Technology July 1 2019 Archived from the original on July 2 2019 Retrieved July 2 2019 Singh Vandana July 1 2019 Barrick Newmont launch Nevada Gold Mines Seeking Alpha Archived from the original on October 23 2021 Retrieved February 14 2022 Barrick Gold and Newmont Goldcorp launch Nevada Gold Mines MiningGlobal com Archived from the original on July 2 2019 Retrieved July 2 2019 a b Havenner Nathan July 1 2020 Nevada Gold Mines celebrates first anniversary Elko Daily Free Press Archived from the original on July 20 2020 Retrieved July 27 2020 Jamasmie Cecilia April 22 2019 Barrick Newmont JV completed world s largest gold complex is born Mining com Archived from the original on October 29 2021 Retrieved July 27 2020 Barrick Newmont joint venture to be named Nevada Gold Mines The Associated Press May 8 2019 Archived from the original on July 27 2020 Retrieved July 27 2020 Chuddihy Claire July 8 2019 Barrick Gold and Newmont launch Nevada Gold Mines Global Mining Review Archived from the original on July 27 2020 Retrieved July 27 2020 Nevada U S Newmont Corporation Archived from the original on August 3 2020 Retrieved July 27 2020 a b Barrick Newmont tear down fences to create biggest gold producer yet The Canadian Press March 11 2019 Archived from the original on July 27 2020 Retrieved July 27 2020 a b Spezzati Stefania March 20 2022 Barrick Gets to Restart Huge Gold and Copper Project in Pakistan Bloomberg Archived from the original on April 13 2022 a b c d Shah Saeed March 20 2022 Pakistan Reaches Deal With Mining Companies The Wall Street Journal Archived from the original on April 13 2022 Friedman Gabriel March 21 2022 Copper s contribution to Barrick s bottom line is increasing as Pakistan project revived Financial Post Archived from the original on March 27 2022 Shahzad Asif Raza Hassan Syed March 20 2022 Barrick to restart Reko Diq project in deal ending dispute with Pakistan Reuters Archived from the original on April 13 2022 Barrick unveils two phased construction approach for Reko Diq project Mining Technology April 13 2022 Archived from the original on April 14 2022 a b c d e Bhatti Gul Ayesha January 3 2023 Reko Diq project A ray of hope for Balochistan Pakistan Today Archived from the original on January 31 2023 Retrieved January 31 2023 a b Barrick targets 2028 for first production from Reko Diq January 16 2023 Archived from the original on January 31 2023 Retrieved January 31 2023 Fitzgerald Maggie August 17 2020 Barrick Gold s stock soars after Buffett s Berkshire reveals stake CNBC Archived from the original on August 17 2020 Retrieved August 17 2020 Vasquez Justina August 14 2020 Berkshire Makes a Bet on Gold Market That Buffett Once Mocked Bloomberg Archived from the original on August 18 2020 Retrieved August 17 2020 La Roche Julia August 17 2020 Warren Buffett and Charlie Munger have a history of trashing gold Yahoo Finance Archived from the original on August 17 2020 Retrieved August 17 2020 La Monica Paul R August 17 2020 Barrick Gold s stock soars after Warren Buffett s company buys a stake CNN Archived from the original on August 17 2020 Retrieved August 17 2020 Goulbova Anna February 18 2021 Warren Buffett exits GOLD entirely Kitco News Archived from the original on August 24 2021 Retrieved August 24 2021 Barrick Gold s Sustainability Report for 2020Q4 PDF Archived from the original PDF on June 10 2021 Alt URL Archived September 28 2021 at the Wayback Machine Barrick Gold raises greenhouse gas emission reduction target to 30 Reuters April 8 2021 Archived from the original on November 9 2021 McGee Niall October 5 2021 World s top mining companies including Canada s Barrick Gold and Teck pledge net zero emissions by 2050 The Globe amp Mail Archived from the original on November 9 2021 Frank Steven November 12 2020 World s top gold miner sets new targets to cut carbon emissions Bloomberg Archived from the original on November 9 2021 Climate risk and decarbonization What every mining CEO needs to know McKinsey amp Company January 28 2020 Archived from the original on November 9 2021 Gray Donald David May 9 2016 Barrick Gold rules horror stories from the frontline NOW Toronto Archived from the original on December 6 2019 Retrieved February 4 2020 Acacia Mining Pressed Over Deaths in Tanzania The Financial Times July 23 2017 Archived from the original on July 24 2017 Retrieved August 12 2019 Police set hundreds of homes ablaze near Porgera gold mine Amnesty International June 10 2014 Archived from the original on August 12 2019 Retrieved August 12 2019 Imai Shin December 17 2016 Violence and Canadian Mining Companies in Latin America SSRN 2886584 Ensign Rachel Louise and Christopher M Matthews June 18 2014 Barrick Gold Unit is Accused of Bribery in Africa The Wall Street Journal Archived from the original on February 22 2015 Retrieved August 12 2019 York Geoffrey October 19 2018 Barrick subsidiary seeks new strategy after latest criminal charges in Tanzania The Globe and Mail Archived from the original on November 12 2020 Retrieved February 4 2020 MacDonald Alistair Bariyo Nicholas August 29 2019 Britain s Fraud Office Investigates Acacia Mining WSJ Tanzania s firebrand leader takes on its largest gold miner The Economist June 15 2017 Archived from the original on July 18 2018 Retrieved February 4 2020 DomRep residents NGOs call for Barrick s tailings plans to be stopped BNAmericas September 20 2021 Archived from the original on November 10 2021 NEWS amp EVENTS Barrick Gold Corporation Joins the Voluntary Principles on Security and Human Rights Voluntary Principles on Security amp Human Rights Archived from the original on July 28 2011 Retrieved November 3 2010 VPs 10 Year Anniversary Press Release Voluntary Principles on Security amp Human Rights March 18 2010 Archived from the original on April 22 2014 Retrieved November 3 2010 New Applicant Process Companies and NGOs Voluntary Principles on Security amp Human Rights Archived from the original on April 22 2014 Retrieved November 3 2010 The Voluntary Principles on Security amp Human Rights Resources Voluntary Principles on Security amp Human Rights Archived from the original on April 23 2014 Retrieved November 3 2010 United Nations Global Compact web site permanent dead link Supporting Companies Extractive Industries Transparency Initiative Eitransparency org Archived from the original on April 25 2010 Retrieved April 21 2011 Member List BSR Sustainability Corporate Social Responsibility Network and Consultancy BSR Archived from the original on January 28 2011 Retrieved April 21 2011 Global Business Coalition on HIV AIDS Malaria and Tuberculosis Member Profiles Archived from the original on July 26 2011 Retrieved July 9 2013 Barrick Named to Dow Jones Sustainability Index Press Releases on CSRwire com Archived from the original on March 3 2009 Retrieved December 19 2016 Nature Conservancy Archived from the original on August 2 2009 Richards Stephen J ed 2007 A Rapid Biodiversity Assessment of the Kaijende Highlands Enga Province Papua New Guinea PDF RAP Bulletin of Biological Assessment Archived from the original PDF on September 28 2011 Retrieved June 2 2010 Jamasmie Cecilia August 17 2017 Argentina confirms charges for Barrick employees over 2015 cyanide spill at Veladero Mining com Archived from the original on November 24 2021 Operations suspended at Barrick gold mine The Chemical Engineer September 16 2016 Archived from the original on November 24 2021 Jamasmie Cecilia September 15 2016 Barrick Gold halts Veladero mine on fresh cyanide spill Mining com Archived from the original on November 24 2021 Jamasmie Cecilia September 15 2016 Exclusive Barrick faces sanctions for Argentina cyanide spills judge says Mining com Archived from the original on November 24 2021 Castilla Juliana May 8 2017 Exclusive Barrick faces sanctions for Argentina cyanide spills judge says Reuters Archived from the original on November 24 2021 Bochove Danielle Gilbert Jonathan April 10 2017 Barrick executives convene in Argentina after mine spill Bloomberg Archived from the original on November 24 2021 McSheffrey Elizabeth June 24 2016 Canadian mining giant Barrick Gold fired whistleblower Then it spilled cyanide into five rivers National Observer Archived from the original on August 21 2019 a b Raymond Nate May 31 2016 Barrick Gold reaches 140 million accord in U S investor lawsuit Reuters Archived from the original on November 16 2021 a b Barrick Gold Corp to Face U S Class Action Lawsuit over Pascua Lama Mine Project Reuters March 24 2016 Archived from the original on November 16 2021 a b Timm Jordan Barrick Gold takes on Talon Books Canadian Business magazine Archived from the original on June 18 2010 Retrieved September 22 2010 Barrick Gold moves to block mining book CBC News May 12 2010 Archived from the original on May 15 2010 Imperial Canada Inc Books Talonbooks Archived from the original on November 10 2014 Retrieved November 10 2014 Noir Canada Defamation Lawsuit Settled Publication of Book Stopped Archived from the original on September 30 2017 Retrieved December 19 2016 a b Gold s Costly Dividend Human Rights Watch February 1 2011 Archived from the original on August 3 2019 Friedman Gabriel April 15 2021 Barrick Gold lost its social licence in Papua New Guinea This is the price it s paying to earn it back Financial Post Archived from the original on December 8 2021 Response to Human Rights Watch Report Barrick Gold Corporation February 1 2011 Archived from the original on December 8 2021 McVeigh Karen April 3 2015 Canada mining firm compensates Papua New Guinea women after alleged rapes The Guardian Archived from the original on December 8 2021 Poplak Richard October 24 2016 Canadian Mining s Dark Heart The Walrus Archived from the original on December 8 2021 Papua New Guinea Police set hundreds of homes ablaze near Porgera gold mine Amnesty International June 10 2014 Archived from the original on December 8 2021 Barrick Gold vows to fight nationalization of gold mine in Papua New Guinea The Toronto Star April 24 2020 Archived from the original on December 8 2021 Pryke Jonathan McLeod Shane May 12 2020 Politics and Porgera why Papua New Guinea cancelled the lease on one of its biggest mines The Guardian Archived from the original on December 8 2021 a b c Gold s Costly Dividend Human Rights Watch February 1 2011 Archived from the original on August 3 2019 Retrieved March 23 2023 Barrick Gold to Sell Idled Lagunas Norte Gold Mine in Peru February 16 2021 Archived from the original on February 22 2021 Retrieved February 24 2021 Deadly clash at Peru protest over Barrick gold mine BBC September 20 2012 Archived from the original on October 29 2021 Retrieved December 6 2019 a b Lu Vanessa September 20 2012 Barrick Gold Closes Peruvian Mine for One Day after Violent Clashes Toronto Star Archived from the original on June 24 2021 Retrieved June 24 2021 Deadly clash at Peru protest over Barrick gold mine BBC News September 20 2012 Archived from the original on October 29 2021 Retrieved December 6 2019 Hill Liezel April 14 2010 Court Allows Barrick to Keep Mining at Cortez Hills Mining Weekly Archived from the original on September 19 2011 Retrieved June 24 2021 South Fork Bank v DOI Per Curiam Opinion U S Court of Appeals for the Ninth Circuit Retrieved February 2 2010 dead link Sonner Scott December 3 2009 US court blocks huge gold mine project in Nevada The San Francisco Chronicle online version Archived from the original on April 24 2010 Retrieved February 1 2010 McClelland Colin March 16 2011 Barrick Says Bureau s Decision Lifts Restrictions on Gold Mine in Nevada Bloomberg Archived from the original on March 20 2011 Retrieved March 26 2011 McMurdo Doug October 31 2008 Tribes Barrick reach historic accord Elko Daily Free Press Retrieved December 1 2009 McMurdo Doug November 1 2008 Making history Part 2 Establishment of trust vital to accord Elko Daily Free Press Retrieved December 1 2009 Adsit Bill C 2008 An Open Letter to Barrick Gold Corporation from the Tahltan Development Corporation Stepping Stone Issue 6 Fall 2008 Archived from the original on July 18 2010 Retrieved February 22 2010 Bill C Adsit An Open Letter to Barrick Gold Corporation from the Tahltan Nation Development Corporation Archived from the original on July 19 2010 Retrieved February 22 2010 Further reading editRohmer Richard 1997 Golden Phoenix The Biography of Peter Munk Toronto Key Porter Books ISBN 1 55013 912 6 External links edit nbsp Wikimedia Commons has media related to Barrick Gold Official website nbsp Business data for Barrick Gold BloombergGoogleReutersSEC filingsYahoo Retrieved from https en wikipedia org w index php title Barrick Gold amp oldid 1199680619, wikipedia, wiki, book, books, library,

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