Barrick’s Sustainability Strategy Delivers Real Value to Stakeholders
PRESS RELEASE
NYSE : GOLD TSX : ABX
All amounts expressed in US dollars
Barrick’s Sustainability Strategy Delivers Real Value to
Stakeholders
TORONTO, May 15, 2024 – Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) – Almost $12 billion of
economic value generated by Barrick’s mines last year remained in the countries in which it operates,
according to the company’s 2023 Sustainability Report published today.
Barrick president and chief executive Mark Bristow says real, tangible sustainability can only be achieved
through a holistic approach aligned to the United Nation’s Sustainable Development Goals. Barrick’s
conformance with ESG standards is a natural by-product of its sustainable business philosophy and not
its driver.
“Barrick’s distinctive approach to sustainability has evolved over many years, guided by the operational
experience gained at its worldwide operations, the partnership philosophy at the heart of its business and
the company’s belief that all stakeholders s hould benefit from the value it creates,” he says. In 2023,
97% of its employees were host country nationals and $43 million has been invested by the company’s
pioneering Community Development Committees (CDCs) in education, healthcare, food security, the
environment, infrastructure and local economic development.
On the safety front, there was a 21% year-on-year improvement in Barrick’s Lost Time Injury Frequency
Rate with total injuries reducing from 2022. The company also recorded its lowest malaria incidence
rate, a 33% year-on-year decrease from 17.86% in 2022 to 11.35% in 2023. “Our safety performance
has been given additional focused attention with the establishment of new groupwide safety protocols to
drive fatal risks down and achieve the zero target we have set ourselves,” Bristow says.
Also in 2023, Barrick achieved the target it set for itself for 2025 of reducing its greenhouse gas emissions
by 15%. Its Scope 1 and 2 greenhouse gas emissions have now been reduced by 16% against its 2018
baseline. Barrick will continue to reduce these emissions, with the long -term goal to be Net Zero by
2050. At the same time, it remains on track to achieve its Scope 3 emissions reduction target s which
were set in consultation with its suppliers and service providers. Barrick also re- used or recycled 84%
of the water it used in its operations, with an 85% recycle rate achieved at its water-stressed sites.
Barrick is also targeting no net loss on any Key Biodiversity Features (KBFs) identified at its sites and is
contributing positively to the conservation of high -risk biodiversity features. “This is best illustrated by
the successful, and ongoing, reintroduction of white rhinos to the Garamba National Park in the
Democratic Republic of Congo. Today, these rhinos are safely roaming a park previously considered
lost to poachers and nomad herders. Its restoration means that the surrounding communities can look
forward to a secure future and one that holds the promise of eco- tourism’s economic awards,” says
Bristow.
Enquiries
Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: [email protected]
Website: www.barrick.com
BARRICK GOLD CORPORATION PRESS RELEASE
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 “committed”, “vision”, “strategy”, “target”, “roadmap”,
“strive”, “objective”, “goals”, “seeks”, “will”, “can” and similar expressions identify forward-looking statements. In parti cular, 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 r eduction
targets and ultimate aim to achieve net zero emissions by 2050, including by implementing the projects set out in its 202 3
Sustainability Report; and Barrick’s environmental, health and safety, corporate social responsibility and human rights programs,
policies and performance, including regarding local community relations, economic contributions and education and employment
initiatives.
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 thi s
press re lease 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; increased costs and physical and transition risks related to climate
change, including extreme weather events, resource shortages, emerging policies and increased regulations related to
greenhouse gas emission levels, energy efficiency and reporting of risks; 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 th e
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 art isanal
mining; risks associated with new diseases, epidemics and pandemics, including the effects and potential effects of the globa l
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; the impact of inflation, includ ing
global energy cost increases following the invasion of Ukraine by Russia and conflicts in the Middle East ; 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; and employee
relations including loss of key employees. 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 material ly
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.