Sustainability is Entrenched in Our
PRESS RELEASE
NYSE : GOLD TSX : ABX
All amounts expressed in US dollars
Sustainability is Entrenched in Our DNA, Says Barrick
Toronto, July 28, 2022 – For Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX), sustainability is not
just a corporate function. It is entrenched in the company’s DNA and integrated in its decision-making
processes, said president and chief executive Mark Bristow at the company’s annual Sustainability
Update presentation to investors, from its Pueblo Viejo gold mine in the Dominican Republic today.
Since the transformational merger with Randgold Resources three and a half years ago, Barrick has
combined the sustainability best practices from both companies to develop a comprehensive, industry-
leading approach, characterized by tangible on-the-ground actions and measurable results. This was
based on four key drivers: creating economic benefits, protecting health and safety, respecting human
rights, and minimizing environmental impacts.
In 2021, Barrick completed the certification of all its sites to ISO 45001 and ISO 14001, implemented
biodiversity action plans at all sites, completed 10 independent tailings reviews, spent $5.5 billion with
host country suppliers and committed over $850 million to decarbonization projects. Host country
nationals comprise 96% of its global workforce.1 Its Lost Time Injury Frequency Rate has decreased
by 24% since 2019 and the Total Recordable Injury Frequency Rate has dropped 13% year-on-year.2
In its annual Sustainability Report for 2021, which includes a scorecard rating its performance against
a wide range of metrics and its peers , Barrick achieved a B, saying that while it continued to make
progress, there was still some way to go. The sustainability scorecard is an industry first and is used
to drive performance as well as to benchmark Barrick against its peers.
On the environmental front, Barrick is committed to reducing emissions by at least 30% by 2030
against the 2018 baseline and to be Net Zero by 2050 while maintaining a steady production profile.
Projects to help achieve these milestones are listed in a comprehensive greenhouse gas emissions
reduction roadmap and involve transitioning from coal and heavy fuels to cleaner-burning natural gas
as well as integrating renewable energy sources into its grids. Barrick’s total emissions in 2021 were
7,105kt of CO2e, a decrease of more than 5% when compared with its total 2018 baseli ne emissions
of 7,541kt of CO2e.
“Sustainability, or ESG, is commonly divided into and dealt with through its individual components,
Environmental, Social and Governance management. At Barrick we believe that approach to be one-
dimensional. Instead, we recognise the interlinks between each and apply holistic thinking when
dealing with this complex challenge. This means when we talk about climate change, we don’t just
talk about reducing our emissions. Rather, we talk and t hink about tackling poverty, building
community resilience and ensuring that action on climate change does not come at the cost of
development. It also means we don’t just think about clean fuels and renewable power, we also
consider biodiversity and the nature-based solutions available to tackling the problem,” said Bristow.
BARRICK GOLD CORPORATION PRESS RELEASE
The Sustainability update presentation with audi o is available on the Barrick website at
https://www.barrick.com/English/investors/presentations/event-details/2022/annual-sustainability-
update/default.aspx.
Enquiries:
Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: [email protected]
Website: www.barrick.com
Endnote 1
As of December 31, 2021
Endnote 2
Lost time injury frequency rate (“LTIFR”) is a ratio calculated as follows: number of lost time injuries x
1,000,000 hours divided by the total number of hours worked. Total reportable incident frequency rate
(“TRIFR”) is a ratio calculated as follows: number o f reportable injuries x 1,000,000 hours divided by the
total number of hours worked. Reportable injuries include fatalities, lost time injuries, restricted duty injuries,
and medically treated injuries.
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 “ commitment, “vision”, “target”, “roadmap”, “aim”, “outline”, “plans”, “strive”, “improvement”,
“objective”, “will”, “can” 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,
Barrick’s environmental, health and safety, corporate social responsibility and human rights programs,
policies and performance; and Barrick’s sustainability scorecard and 2021 sustainability performance.
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
BARRICK GOLD CORPORATION PRESS RELEASE
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. Barrick also
cautions that its 2022 guidance may be impacted by the unprecedented business and social disruption
caused by the spread of Covid-19. 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.