(NYSE:GOLD)(TSX:ABX) – Barrick Gold Corporation’s ESG strategy
delivered tangible results in 2020, including an update to its
greenhouse gas emissions reduction target, said president and chief
executive Mark Bristow in a virtual presentation to investors on
sustainability today. The presentation was the first of its kind
for Barrick and coincided with the publication of Barrick’s 2020
Sustainability Report.
Bristow said the company’s ESG advances last year
also included zero Class 1 environmental incidents1, a new record
of 79% water recycling and re-use by its operations and the
introduction of fully functional community development committees
at all its operating sites to guide its social investment
programs.
“At the beginning of last year we set an emissions
reduction target of 10% by 2030 against a 2018 baseline that
combined the data from the legacy Barrick and Randgold operations
as well as newly acquired assets. Through the year we worked on
identifying further reduction opportunities and this has enabled us
to set an updated target of at least 30% by 2030 with an interim
reduction target of 15% based on projects already being
implemented, while maintaining a steady production profile.
Ultimately our aim is to achieve net zero emissions by 2050,
achieved primarily through greenhouse gas reductions and offsets
for some hard-to-abate emissions,” he said.
“Sustainability has long been a strategic business
priority for us. Our strategy is based on four pillars: the
creation of economic benefits for all stakeholders; the protection
of health and safety at our mines and in their host communities; a
respect for human rights; and the minimization of our environmental
impacts. For us ESG is not a corporate compliance function: it’s
integral to how we manage our businesses worldwide.”
In the same presentation, Barrick’s group
sustainability executive Grant Beringer said all the company’s
sites had been certified to the ISO 14001:2015 environmental
management standard. Each site had also been empowered to manage
its own environmental issues under the oversight of the group’s
strategic leadership. There was a particularly rigorous approach to
their management of tailings facilities.
“Our tailings and heap leach management standard
has been aligned with the recently updated guidelines of the
International Council on Mining and Metals, of which Barrick is a
member, as well as those of the Mining Association of Canada. The
standard sets out six levels of inspection and surety for the safe
operation of tailings and heap leach facilities,” he said.
Barrick’s 2020 Sustainability Report is available
at www.barrick.com/sustainability.
Enquiries:
Mark BristowPresident and CEO+1
647 205 7694+ 44 788 071 1386
Kathy du PlessisInvestor and Media
Relations+44 20 7557 7738Email: barrick@dpapr.com
Website: www.barrick.com
Endnote 1
Class 1 - High Significance is defined as an
incident that causes significant negative impacts on human health
or the environment or an incident that extends onto publicly
accessible land and has the potential to cause significant adverse
impact to surrounding communities, livestock or wildlife.
Cautionary Statement on Forward-Looking
Information
Certain information contained or incorporated by
reference in this press release, including any information as to
our strategy, projects, plans or future financial or operating
performance, constitutes “forward-looking statements”. All
statements, other than statements of historical fact, are
forward-looking statements. The words “strategy’, “target”,
“while”, “aim”, “plan”, “update”, “surety”, “improvement”, “may”,
“will”, “can”, “could”, “would” and similar expressions identify
forward-looking statements. In particular, this press release
contains forward-looking statements including, without limitation,
with respect to: Barrick’s sustainability strategy and vision;
Barrick climate strategy and approach to managing climate risks;
Barrick’s greenhouse gas emission reduction targets and ultimate
aim to achieve net zero emissions by 2050; and Barrick’s
environmental performance and management of tailings facilities
under its tailings and heap leach management standard.
Forward-looking statements are necessarily based
upon a number of estimates and assumptions including material
estimates and assumptions related to the factors set forth below
that, while considered reasonable by the Company as at the date of
this press release in light of management’s experience and
perception of current conditions and expected developments, are
inherently subject to significant business, economic and
competitive uncertainties and contingencies. Known and unknown
factors could cause actual results to differ materially from those
projected in the forward-looking statements and undue reliance
should not be placed on such statements and information. Such
factors include, but are not limited to: failure to comply with
environmental and health and safety laws and regulations;
non-renewal of key licences by governmental authorities; changes in
national and local government legislation, taxation, controls or
regulations and/or changes in the administration of laws, policies
and practices; expropriation or nationalization of property and
political or economic developments in Canada, the United States and
other jurisdictions in which the Company or its affiliates do or
may carry on business in the future; timing of receipt of, or
failure to comply with, necessary permits and approvals; lack of
certainty with respect to foreign legal systems, corruption and
other factors that are inconsistent with the rule of law; risks
associated with illegal and artisanal mining; risks associated with
new diseases, epidemics and pandemics, including the effects and
potential effects of the global Covid-19 pandemic; damage to the
Company’s reputation due to the actual or perceived occurrence of
any number of events, including negative publicity with respect to
the Company’s handling of environmental matters or dealings with
community groups, whether true or not; risk of loss due to acts of
war, terrorism, sabotage and civil disturbances; litigation and
administrative proceedings; contests over title to properties,
particularly title to undeveloped properties, or over access to
water, power and other required infrastructure;; risks associated
with working with partners in jointly controlled assets; employee
relations including loss of key employees; and increased costs and
physical risks, including extreme weather events and resource
shortages, related to climate change. In addition, there are risks
and hazards associated with the business of mineral exploration,
development and mining, including environmental hazards, industrial
accidents, unusual or unexpected formations, pressures, cave-ins,
flooding and gold bullion, copper cathode or gold or copper
concentrate losses (and the risk of inadequate insurance, or
inability to obtain insurance, to cover these risks).
Many of these uncertainties and contingencies can
affect our actual results and could cause actual results to differ
materially from those expressed or implied in any forward-looking
statements made by, or on behalf of, us. Readers are cautioned that
forward-looking statements are not guarantees of future
performance. All of the forward-looking statements made in this
press release are qualified by these cautionary statements.
Specific reference is made to the most recent Form 40-F/Annual
Information Form on file with the SEC and Canadian provincial
securities regulatory authorities for a more detailed discussion of
some of the factors underlying forward-looking statements and the
risks that may affect Barrick’s ability to achieve the expectations
set forth in the forward-looking statements contained in this press
release.
We disclaim any intention or obligation to update
or revise any forward-looking statements whether as a result of new
information, future events or otherwise, except as required by
applicable law.
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