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Barrick Gold

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Barrick Gold
Company typePublic
IndustryMetals and mining
Founded1983; 42 years ago (1983)
FounderPeter Munk
Headquarters
Toronto, Ontario
,
Canada
ProductsGold, silver, copper
RevenueDecrease US$11.985 billion (Fiscal Year Ended December 31, 2021)[1]
Website{{URL|example.com|optional display text}}

Barrick Gold Corporation is a Canadian mining company. They produces gold and copper with 16 operating sites in 13 countries.[2] It is located in Toronto, Ontario, Canada.[3] 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.[4][5] As of 31 December 2019 the company had 71 million ounces of proven and probable gold reserves.[6]

Barrick had been the world's largest gold mining company until Newmont Corporation acquired Goldcorp in 2019.[7] Barrick expects to produce between 4.6 and five million ounces of gold and between 440 and 500 million pounds of copper in 2020.[8]

Carbon footprint[change]

Barrick Gold reported total CO2e emissions (Direct + Indirect) for 31 December 2020 at 7,351 Kt.[9] It has set a greenhouse gas emissions reduction target of 30% and will be net-zero carbon emissions by 2050.[10] 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.[11]

Operations[change]

Gold[change]

Property Country Ownership Mine Type 2021 Gold Production (ounces)[12] 2020 Gold Production (ounces)[12] 2020 Gold Reserves (ounces)[12]
Veladero File:Flag of Argentina.svg Argentina 50% Open Pit 130,000 – 150,000 226,000 2.6 million
Hemlo File:Flag of Canada (Pantone).svg Canada 100% Open Pit, Underground 200,000 – 220,000 223,000 1.5 million
Tongon  Ivory Coast 89.7% Open Pit 180,000 – 200,000 255,000 570,000
Pueblo Viejo File:Flag of the Dominican Republic.svg Dominican Republic 60% Open Pit 470,000 – 510,000 542,000 6.2 million
Loulo-Gounkoto File:Flag of Mali.svg Mali 80% Open Pit, Underground 510,000 – 560,000 544,000 6.7 million
Kibali  Democratic Republic of Congo 45% Open Pit, Underground 350,000 – 380,000 364,000 4.2 million
Porgera File:Flag of Papua New Guinea.svg Papua New Guinea 47.5% Open Pit, Underground n/a n/a 2.4 million
North Mara File:Flag of Tanzania.svg Tanzania 100% Open Pit, Underground 240,000 – 270,000 261,000 2.0 million
Bulyanhulu File:Flag of Tanzania.svg Tanzania 100% Underground 170,000 – 200,000 44,000 2.0 million
Buzwagi File:Flag of Tanzania.svg Tanzania 100% Open Pit 30,000 – 40,000 84,000 42,000
Nevada Gold Mines File:Flag of the United States.svg United States 61.5% Open Pit, Underground 2.1 – 2.25 million 2.1 million 27.5 million

Copper[change]

Property Country Ownership Mine Type 2021 Copper Production (pounds)[12] 2020 Copper Production (pounds)[12] 2020 Copper Reserves (pounds)[12]
Zaldívar File:Flag of Chile.svg Chile 50% Open Pit 90 – 110 million 106 million 2.3 billion
Jabal Sayid File:Flag of Saudi Arabia.svg Saudi Arabia 50% Underground 70 – 80 million 75 million 620 million
Lumwana File:Flag of Zambia.svg Zambia 100% Open Pit 250 – 280 million 276 million 6.3 billion

Mining practices[change]

Environmental and human rights violations have taken place around a number of mining operations. They are now closed or were previously operated by a different company, including violence in Papua New Guinea and Tanzania.[13][14][15] Forty people were arrested in Chile following a demonstration against the potential environmental impacts of a mining project. Executives of Acacia Mining had faced charges of bribery, conspiracy, forgery, money-laundering, tax-evasion and environmental damage.[16][17][18][19] There has also been small groups of opposition in the Dominican Republic.[20]

References[change]

  1. ↑ "Barrick Q4 2021 Results Release". EDGAR System. U.S. Securities and Exchange Commission. February 16, 2022.
  2. ↑ "2019 Annual Report" (PDF). Barrick Gold Corporation. Archived from the original (PDF) on 2021-10-08. Retrieved 2022-08-30.
  3. ↑ "Barrick Gold Corporation – Operations". Retrieved December 19, 2016.
  4. ↑ "Barrick Gold Corporation – Company". Archived from the original on June 1, 2016. Retrieved December 19, 2016.
  5. ↑ "Barrick beats forecasts, hikes dividend by 40% as gold prices soar". Mining.com. February 12, 2020.
  6. ↑ "Barrick Gold 4Q Earnings Top Estimates; Dividend Hiked". Kitco News. February 12, 2020. Archived from the original on 2020-02-12. Retrieved 2022-08-30.
  7. ↑ McNish, Jacquie; MacDonald, Alistair (January 14, 2019). "Newmont to Buy Goldcorp, Creating World's Largest Gold Miner". The Wall Street Journal.
  8. ↑ Jamasmie, Cecilia (May 6, 2020). "Barrick Cuts 2020 Guidance, Faces $191M Bill in PNG". Mining.com. Retrieved February 14, 2022.
  9. ↑ "Barrick Gold's Sustainability Report for 2020Q4" (PDF). Archived from the original (PDF) on June 10, 2021. Alt URL Archived 2021-09-28 at the Wayback Machine
  10. ↑ "Barrick Gold raises greenhouse gas emission reduction target to 30%". Reuters. April 8, 2021.
  11. ↑ 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 & Mail.
  12. ↑ 12.0 12.1 12.2 12.3 12.4 12.5 "A Year of Delivery and Development as Barrick Meets Targets, Advances Growth Projects". GlobeNewswire. February 18, 2021.
  13. ↑ Gray-Donald, David (9 May 2016). "Barrick Gold rules – horror stories from the frontline". NOW Toronto.
  14. ↑ "Acacia Mining Pressed Over Deaths in Tanzania". The Financial Times. July 23, 2017.
  15. ↑ "Police set hundreds of homes ablaze near Porgera gold mine". Amnesty International. 10 June 2014.
  16. ↑ Ensign, Rachel Louise and Christopher M. Matthews (18 June 2014). "Barrick Gold Unit is Accused of Bribery in Africa". The Wall Street Journal.
  17. ↑ York, Geoffrey (19 October 2018). "Barrick subsidiary seeks new strategy after latest criminal charges in Tanzania". The Globe and Mail.
  18. ↑ MacDonald, Alistair; Bariyo, Nicholas (August 29, 2019). "Britain's Fraud Office Investigates Acacia Mining". WSJ.
  19. ↑ "Tanzania's firebrand leader takes on its largest gold miner". The Economist. 15 June 2017.
  20. ↑ "DomRep residents, NGOs call for Barrick's tailings plans to be stopped". BNAmericas. September 20, 2021.

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