company’s 10-year production forecast and its growth profile. Announcing Barrick’s results for the 2022 year and Q4, president and chief executive Mark Bristow said the company had always believed that discovering ounces was better than buying them
TORONTO, February 15, 2023 — Barrick Gold Corporation’s
strategy of investing in organic growth through exploration and
mineral resource management more than replaced gold reserves
for the second straight year and significantly increased copper
resources year on year, providing further support for both the
company’s 10-year production forecast and its growth profile.
Announcing Barrick’s results for the 2022 year and Q4, president
and chief executive Mark Bristow said the company had always
believed that discovering ounces was better than buying them
at a premium in a sector where reserves and resources were
diminishing.
“Our continued success in not only replenishing but also unlocking
significant value in our asset base shows the unmatched potential
of our organic growth pipeline,” he said.
Barrick returned a record $1.6 billion to shareholders in 2022
through dividends and share buybacks and has announced a
further share buyback program of up to $1 billion for the next
twelve months. 1 During the past quarter, Moody’s upgraded the
company’s long-term corporate credit rating from Baa1 to A3,
making Barrick the highest-rated company in the gold mining
sector.
A stronger Q4 operational performance, notably from Cortez and
Carlin in Nevada, Pueblo Viejo in the Dominican Republic and
Tongon in Côte d’Ivoire, contributed to annual gold production of
more than 4.1 million ounces2 in a year impacted by infrastructural
issues at Turquoise Ridge in Nevada and the replacement of
the rock winder at Kibali in the Democratic Republic of Congo.
Copper production from Lumwana in Zambia and Jabal Sayid in
Saudi Arabia was well within guidance.
Q42022
6 7 8
AFRICA &
MIDDLE EAST
REGION
SHINES AGAIN
GREENING THE
GRID IN NEVADA
ALL-TERRAIN
WOMAN
ALL AMOUNTS EXPRESSED IN U.S. DOLLARS
RESOURCES
AND RESERVES
GROW
4
SIGNIFICANT INCREASE IN RESERVES AND RESOURCES
CONTINUES TO DRIVE BARRICK’S INDUSTRY-LEADING
PRODUCTION GROWTH PROFILE
Results
Release
CONTINUED ON PAGE 3
SIGNIFICANT GROWTH IN
GOLD RESERVES AND RESOURCES
COMPLETED RECONSTITUTION
OF REKO DIQ PROJECT
COPPER RESOURCE GROWTH
DRIVEN BY LUMWANA SUPER PIT AND REKO DIQ
THIRD SHAFT COMMISSIONED
AT TURQUOISE RIDGE
RECORD RETURNS
TO SHAREHOLDERS IN 2022
Key Performance Indicators
Financial and Operating Highlights
Financial Results Q4
2022
Q3
2022 2022 2021
Realized gold price2,3
($ per ounce) 1,728 1,722 1,795 1,790
Net earnings
($ millions) (735) 241 432 2,022
Adjusted net earnings4
($ millions) 220 224 1,326 2,065
Net cash provided by
operating activities ($ millions) 795 758 3,481 4,378
Free cash flow5
($ millions) (96) (34) 432 1,943
Net earnings per share
($) (0.42) 0.14 0.24 1.14
Adjusted net earnings
per share4 ($) 0.13 0.13 0.75 1.16
Attributable capital
expenditures6,7 ($ millions) 743 609 2,417 1,951
Operating Results Q4
2022
Q3
2022 2022 2021
Gold
Production2
(thousands of ounces) 1,120 988 4,141 4,437
Cost of sales2,8
($ per ounce) 1,324 1,226 1,241 1,093
Total cash costs2,9
($ per ounce) 868 891 862 725
All-in sustaining costs2,9
($ per ounce) 1,242 1,269 1,222 1,026
Copper
Production2
(millions of pounds) 96 123 440 415
Cost of sales2,10
($ per pound) 3.19 2.30 2.43 2.32
C1 cash costs2,11
($ per pound) 2.25 1.86 1.89 1.72
All-in sustaining costs2,11
($ per pound) 3.98 3.13 3.18 2.62
Q4 and Full Year 2022 Results Presentation
Webinar and Conference Call
President and CEO Mark Bristow will host a live presentation
today at 11:00 EST / 16:00 UTC, with an interactive webinar
linked to a conference call. Participants will be able to ask
questions.
Go to the webinar
US and Canada (toll-free), 1 800 319 4610
UK (toll-free), 0808 101 2791
International (toll), +1 416 915 3239
The presentation materials will be available on Barrick’s
website at www.barrick.com and the webinar will remain on
the website for later viewing.
Best Assets
▪ Tier One12 assets deliver significant growth in
gold reserves and resources
▪ Completed the reconstitution of the Reko Diq
project — one of the world’s largest undeveloped
gold and copper deposits
▪ Copper resource growth driven by Lumwana
Super Pit and Reko Diq
▪ Stronger Q4 performance from Cortez, Carlin and
Tongon results in full year gold production of 4.14
million ounces2
▪ Record throughput at Pueblo Viejo; reserve
growth delivers a 20+ year life of mine13
▪ Commissioning of Pueblo Viejo plant expansion
has commenced
▪ Goldrush permitting moves forward another step
with Notice of Availability briefing package
submitted
▪ Turquoise Ridge Third Shaft commissioned
▪ Strong drilling intersections across brownfields
portfolio confirms growth potential (Dorothy,
Morro Escondido, Gara West, Jabal Sayid, North
Mara, Greater Leeville), while greenfields work
continues to develop a pipeline of exciting targets
Leader in Sustainability
▪ Group-wide safety review prioritises
Journey to Zero roadmap
▪ Zero Class 114 or high significance environmental
incidents
▪ Greenhouse gas emissions reduction roadmap
on track
▪ Water management recycling targets achieved
▪ Rhino reintroduction project contributes another
significant biodiversity component to the greater
Garamba nature initiative
Delivering Value
▪ Moody’s upgrades Barrick’s long-term credit
rating from Baa1 to A3, making Barrick the
highest-rated company in the gold mining
industry
▪ Strategic repurchase of long-term debt at a
discount to par reduces future interest payments
▪ Record returns of $1.6 billion to shareholders in
2022
BARRICK YEAR-END 2022 2 PRESS RELEASE
CONTINUED FROM PAGE 1
In one of the m ost significant developments of the year, work
has sta rted o n the deve lopment of the massive Reko D iq
copper-gold pr oject in t he B alochistan p rovince o f P akistan.
Reko D iq i s e xpected t o double t he size of t he c ompany’s
copper production capacity when it is com missioned in 2028.
Barrick owns 50% of the project, and will operate it, with the
balance shared by t he Government of Ba lochistan and three
Pakistani state-owned enterprises.
Another major pr oject, th e exp ansion o f P ueblo Vi ejo’s
process plant and t he establishment of a new tailings s torage
facility, also continued to advance. Bristow noted that despite
the presence of over 4,500 additional construction workers on
the s ite, the m ill a chieved a re cord th roughput f or th e f ourth
successive y ear, w ith p roduction w ell w ithin g uidance.
Reserve growth has a dded more than 20 y ears to the life of
this Tier One mine.
On th e exp loration fr ont, dr illing acr oss Barr ick’s br ownfields
portfolio has confirmed significant growth potential at Dorothy
and Gre ater L eeville in Neva da, Gar a West in Ma li, N orth
Mara i n Ta nzania, and J abal Sayid in Saud i A rabia.
Greenfields exploration continues to d eliver new opportunities
across Barrick’s expanding global footprint.
“The past year has seen a further deterioration in geopolitics
and the dawn of a new era of high inflation, high interest rates
and h igh risk. I n t his p eriod of glob al u ncertainty, g old
outperformed most asset classes. Bar rick is the largest gold
miner in the United States and in Africa. I f you factor in the
ounces produced under our management,15 we’re the largest
in t he w orld. We’ve b een b uilding our c opper por tfolio a nd
when Reko Diq comes on stream it will lift us into the premier
league o f c opper p roducers. G iven t hese resou rces, our
proven strategy and our global expertise, I believe the case for
investment i n B arrick i s b ecoming incr easingly com pelling,”
Bristow said.
Q4 DIVIDEND DECLARED WITH
RECORD ANNUAL RETURNS TO SHAREHOLDERS IN 2022
Barrick today declared of a dividend of $0.10 per share for the fourth quarter of 2022. The dividend is consistent
with the Company’s Performance Dividend Policy announced at the start of 2022. The Q4 2022 di vidend will be
paid on March 15, 2023 to shareholders of record at the close of business on February 28, 2023.
In addition to the dividends paid in 2022, Barrick repurchased
24.25 m illion sha res u nder the sha re b uyback pr ogram t hat
was announced in February 2022. As a resu lt, $1.6 billion o f
cash was r eturned to shar eholders thr ough d ividends an d
share b uybacks dur ing the y ear, exceeding the re cord $ 1.4
billion of distributions made in 2021.
“On the b ack of t he com pany’s con tinuing str ong op erating
performance, t hrough t he c ombination of the per formance
dividend policy a nd shar e buyba ck p rogram, w e have o nce
again provided shareholders with record annual returns,” said
senior e xecutive vice-p resident and c hief f inancial o fficer
Graham Shuttleworth.
BARRICK ANNOUNCES NEW SHARE BUYBACK PROGRAM
Barrick plans to undertake a new share repurchase program to buy back additional common shares.
Barrick’s Board of Directors has authorized a new program for
the rep urchase of u p to $1.0 billi on of th e Com pany’s
outstanding com mon s hares over t he n ext 1 2 months at
prevailing market prices in accordance with applicable law. In
connection with t he new sha re r epurchase pro gram, B arrick
has terminated the share repurchase program announced by
the Com pany o n Febr uary 16, 2 022. Th e Com pany
repurchased $ 424 mil lion i n c ommon shar es u nder i ts 2 022
share repurchase program.
“After th e s uccess of la st y ear’s b uyback pr ogram, t his n ew
program g ives u s a f urther opp ortunity t o repu rchase o ur
shares when we believe that they are trading in a price range
that does not reflect the v alue of t he Company’s mining and
financial a ssets and futur e b usiness pr ospects,” s aid M ark
Bristow, President and Chief Executive. “We continue to have
the financial strength to undertake this program.”
Under the p rogram, r epurchases c an be ma de f rom t ime to
time through published markets in the United States such as
the New York Stock Exchange using a variety of methods,
including open market purchases, as well as by any other
means permitted under the rules of the U.S. Securities and
Exchange Commission and other applicable legal
requirements.
Barrick believes that, from time to time, the market price of its
common shares trade at prices that may not adequately
reflect their underlying value. The actual number of shares
that may be purchased, if any, and the timing of such
purchases, will be determined by Barrick based on a number
of factors, including the Company’s financial performance, the
availability of cash flows, and the consideration of other uses
of cash, including capital investment opportunities, returns to
shareholders, and debt reduction.
The repurchase program does not obligate the Company to
acquire any particular number of common shares, and the
program may be suspended or discontinued at any time at the
Company’s discretion.
BARRICK YEAR-END 2022 3 PRESS RELEASE
SIGNIFICANT INCREASE IN RESOURCES AND RESERVES UNDERPINS
INDUSTRY-LEADING PRODUCTION PROFILE GROWTH
Barrick grew attributable proven and probable gold mineral reserves by 6.7 million ounces net of
depletion in 2022, while maintaining grade despite an increase in the reserve price assumption.
Reported at $1,300/oz 16, attributable proven and probable
mineral reserves now stand at 76 million ounces 17 at 1.67g/t,
increasing from 69 million ounces 18 at 1.71g/t reported at
$1,200/oz16 in 2021. Led by Pueblo Viejo and the Africa &
Middle East region, Barrick has now delivered a second
consecutive year of gold reserve growth over and above
annual depletion, with nearly 12 million ounces 17 of
attributable proven and probable reserve gains in 2022 before
depletion.
Successful exploration at both the Lumwana and Jabal Sayid
mines drove the growth of attributable proven and probable
copper reserves by 640 million pounds 17, notwithstanding an
increase in the annual reserve price assumption to $3.00/lb. 16
As a result, Barrick replaced 103% of annual global depletion
at consistent quality, effectively maintaining attributable
proven and probable copper mineral reserves of 12 billion
pounds17 at 0.38% in 2022.
Total attributable gold mineral resources grew by nearly 10%
relative to 2021, and total attributable copper mineral
resources more than doubled, growing by 124% year over
year, both net of annual depletion. This growth was driven by
the successful completion of a preliminary economic
assessment supporting the Lumwana Super Pit expansion,
and the incorporation of Reko Diq following the reconstitution
of the project in December 2022. Attributable measured and
indicated gold resources for 2022 stand at 180 million
ounces17 at 1.07g/t, with a further 42 million ounces 17 at 0.8g/t
of inferred resources. Attributable measured and indicated
copper resources for 2022 stand at 44 billion pounds 17 at
0.39%, with a further 15 billion pounds 17 at 0.4% of inferred
resources. Mineral resources are reported inclusive of
reserves and for 2022, are based on a gold price of $1,700/
oz16 and a copper price of $3.75/lb.16
President and chief executive Mark Bristow said in a sector of
diminishing reserves and resources, Barrick’s strategy of
investing in organic growth through exploration and mineral
resource management has replenished and delivered
significant value within the company’s asset base.
“While we continue to evaluate all new opportunities against
our strategic filters, we have always believed that finding our
ounces is better than buying them, and this year’s resource
and reserve statement showcases the unmatched potential of
our organic growth pipeline,” said Bristow.
Mineral Resource Management and Evaluation Executive
Simon Bottoms stated that basing the company’s reserve
calculations at a price of $1,300/oz for gold 16 and $3.00/lb for
copper16 underpins our focus on quality assets.
“The substantial growth in our mineral resources lays the
long-term foundation to potentially grow our current
attributable production profile of approximately 5.5 million gold
equivalent ounces19 per year to approximately 6.5 million gold
equivalent ounces19 per year by the end of this decade, which
would include production from Reko Diq and the Lumwana
Super Pit,” said Bottoms.
In Africa, the Tier One operations led the growth in 2022
reserves, where Kibali completed an updated underground
feasibility study on the 11000 lode, delivering a 0.62 million
ounce17 increase in attributable proven and probable reserves
before depletion. Loulo-Gounkoto also delivered strong
results replacing reserve depletion, which further extended
the mine life by another year. Moving to Tanzania, the focus
on underground expansion at Gokona in North Mara has
delivered a 0.44 million ounce 17 increase in 2022 attributable
proven and probable reserves before depletion.
BARRICK YEAR-END 2022 4 PRESS RELEASE
The Lumwana copper mineral resource base grew by 89%,
net of depletion, relative to 2021. This follows the completion
of the preliminary economic assessment on the Super Pit
expansion that demonstrates strong potential for a Tier One
Copper Asset 12 and provides the basis for the ongoing pre-
feasibility study.
Within the Latin America & Asia Pacific region, Pueblo Viejo
completed a pre-feasibility study for the new Naranjo tailings
storage facility (TSF), adding 6.5 million ounces of attributable
proven and probable reserves 13,17 net of depletion, and
extending the minelife beyond 2040. As a result, 2022
attributable proven and probable gold reserves for the region
have increased to 27 million ounces 17 at 0.97g/t from 21
million ounces18 at 0.83g/t in 2021.
The reconstitution of the Reko Diq project added an
attributable 18 billion pounds of copper 17 at 0.44% with 15
million ounces gold17 at 0.26g/t to indicated resources, and an
attributable 4.6 billion pounds of copper 17 at 0.4% with 3.7
million ounces gold 17 at 0.2g/t to inferred resources. These
mineral resources reflect only three porphyries (H13, H14,
H15) as well as the Tanjeel deposit within the cluster of
Western Porphyries. Alongside the ongoing feasibility study
update, the team is also planning to evaluate further known
porphyry occurrences within the mining lease area.
In North America, the completion of pre-feasibility studies for
the Robertson open pit project at Cortez, as well as a new
pushback in the Hemlo open pit were significant contributors
to reserve growth. As a result, Robertson’s maiden
attributable proven and probable gold reserves are estimated
at 1.0 million ounces 17 at 0.46g/t. This represents a milestone
for Cortez as a key source of oxide mill feed in the mine plan.
Similarly, the new Hemlo open pit pushback is expected to
commence in 2027 adding 0.86 million ounces 17 of gold at
1.49g/t to probable reserves. Combined with other updates
across the region, this results in the growth of North America
attributable proven and probable reserves by 1.8 million
ounces17 before depletion, with proven and probable
attributable reserves for the region now estimated at 31
million ounces17 at 2.54g/t. At the same time, attributable gold
mineral resources also grew significantly, supporting future
potential reserve growth in line with our strategy to fully
replace depletion for the region within a five-year period.
Measured and indicated attributable gold resources increased
by 2.8 million ounces17 to 73 million ounces 17 at 2.16 g/t, from
70 million ounces 18 at 2.22 g/t in 2021. Inferred attributable
gold resources also increased to 17 million ounces 17 at 1.8 g/
t, from 16 million ounces 18 at 2.0 g/t in 2021. Underground
resource extension drilling at both Goldstrike and Leeville in
Carlin were key drivers of this organic resource growth, as
well as successful resource definition drilling at Goldrush and
Robertson in Cortez, all of which support the potential for
future reserve growth in this region.
REKO DIQ SET TO TRANSFORM BALOCHISTAN
Reko Diq, which upon completion is expected to be one of the largest copper mines in the world
as well as a major gold producer, will have an enormously beneficial impact on the remote and
neglected province of Balochistan, and serve as a catalyst for increased foreign investment
throughout Pakistan.
The enormous mine, which will have a lifespan of multiple
generations, is a partnership between Barrick, which owns
50% of the project and is the operator, the provincial
government of Balochistan, which holds 25%, and three
Pakistani state-owned enterprises, which share the remaining
25%. The shareholding structure is in line with Barrick’s policy
of benefit-sharing partnerships with its host countries.
Barrick president and chief executive Mark Bristow says
expanding its copper portfolio is one of the company’s key
strategies and, in pursuing this, it considers the quality of
potential assets in tandem with any risk factors in the
jurisdictions that host them.
“Barrick is highly experienced in developing and operating
profitable mines in some of the world’s frontier regions, which
also happen to hold the greatest potential for new discoveries.
In Pakistan, we have been impressed by the support we have
received from our partners and by the efficiency with which
the project agreements have been executed in a transparent
process reviewed by the country’s Supreme Court,” he said.
“Reko Diq is a classic example of how mining can be at the
forefront of the achievement of the United Nations’ Social
Development Goals. It will transform the Chagai region by
creating thousands of jobs and stimulating the development of
the local economy. We have already started establishing the
community development committees through which we’ll be
identifying and investing in development projects, and have
initiated a social baseline study. We’ve also entered into an
agreement with the provincial government for the
disbursement of social development funds and advance
royalties, which will ensure that the people of Balochistan start
reaping the rewards of Reko Diq even before it goes into
production.”
Completion of the feasibility study is scheduled for the end of
2024 and first production is targeted for 2028. In line with
Barrick’s local recruitment policy, a Balochistan native, Ali
Ehsan Rind, was appointed as country manager and a project
development team is being assembled, with preference given
to people from the region.
BARRICK YEAR-END 2022 5 PRESS RELEASE
AFRICA & MIDDLE EAST REGION SHINES AGAIN
Barrick’s Africa & Middle East region (AME) delivered another stellar performance in 2022,
meeting its gold and copper production guidance and continuing to grow its gold reserves over
and above their annual depletion by mining.
Speaking to media at Kinshasa in the Democratic Republic of
Congo (DRC), president and chief executive Mark Bristow
said the latest reserve replacement underpinned AME’s ability
to maintain an approximate 2.2 million ounce 15,20 annual gold
equivalent production run rate for the next 10 years, with the
potential to extend this well beyond that horizon.19
“At the time of the merger with Randgold, the AME region had
two Tier One mines. The newly proposed expansion that
forms the core component of the ongoing Lumwana Super Pit
pre-feasibility study has the potential to create another Tier
One asset within the region, significantly increasing the mine’s
production and extending the life by 40 to 60 years. In the
meantime, the successful transition to owner mining is
unlocking further value at Lumwana. In line with Barrick’s
strategy, we are further expanding our copper portfolio and
opening up exciting new frontiers through exploration and joint
ventures in Saudi Arabia and Egypt on the back of our very
successful Jabal Sayid partnership.
The Tanzanian gold mines, North Mara and Bulyanhulu,
continued building on the complete turnaround effected by
Barrick when it took over their management in September
2019, maintaining Tier One production levels with a combined
output of 546,576 ounces 15 in 2022. North Mara is now
Tanzania’s largest taxpayer and Barrick’s footprint in Tanzania
has been expanded through the acquisition of the Tembo
licence. Through successful exploration, the Tongon gold
mine in Côte d’Ivoire extended its life to 2026 and we continue
to pursue growth through exploration to extend this further.
At the Kibali gold mine in the DRC, the mine’s three
hydropower stations, supported by its battery storage system,
kept energy costs at less than 5 cents per kWh during the wet
season despite higher fuel prices. Plans are underway to add
solar power and additional battery storage to further increase
renewable energy usage.
AME’s estimated economic contribution to its host countries in
2022 exceeded $3.4 billion.15
BARRICK YEAR-END 2022 6 PRESS RELEASE
GREENING THE GRID IN NEVADA
Nevada Gol d Mines (N GM) has c ommitted it self t o a chieving a 20 % re duction i n c arbon (CO 2
equivalent) em issions by 20 25. The reduct ion will be ac hieved t hrough the cons truction of a
200MW solar power plant and the co-fire modification of the TS power plant which will enable it to
use cleaner-burning natural gas as a fuel source.
The solar facility, which will cover 500 h ectares with 544,908
modules, is expected to go i nto commercial production in the
second quarter of 2024 and will supply 17% of NGM’s annual
energy n eeds an d re duce CO 2 e quivalent em issions by
254,000 t onnes per a nnum, an 8% red uction fro m NGM ’s
2018 baseline. The TS power plant conversion project will cut
an additional 526,000 tonnes of CO2 equivalent emissions per
year, a 16% reduction from NGM’s 2018 baseline.
Consistent wi th B arrick’s g lobal policy of e mploying,
partnering, and ad vancing host com munities a nd c ountries,
NGM partnered with three Nevada-based contractors and will
domestically s ource ove r 90% o f mate rials f or th e s olar
project. An engineering firm utilizing Nevada-based resources
provided s upport for t he design and p ermitting f or the TS
power plant conversion project.
Both NGM and Barrick have a strong focus on environmental
management p ractices a nd a re com mitted custod ians o f t he
unique la nds, w aters, flor a, a nd f auna within the s tate of
Nevada. Th ese p rojects a re key to Ba rrick’s r oadmap
targeting a 30% reduction in global emissions by 2030 , while
maintaining a s teady pro duction pro file, with t he g oal o f
achieving net-zero by 2050.
L
OULO-GOUNKOTO COMPLEX CONTINUES TO
DELIVER VALUE TO STAKEHOLDERS
Seventeen years after it went into production, Barrick’s Loulo-Gounkoto mining complex in Mali
continues to demonstrate its value as a key socio-economic partner to the country.
In 2022 it maintained its historically consistent performance by
meeting its production guidance, solidified its long-term
outlook and replaced its mined ounces for the fourth
successive year. The initial development of a third
underground mine at Gounkoto was commissioned and is on
track to start ore production from stoping in the second
quarter of 2023. Key geological structures within the Loulo
district have indicated the potential for further discoveries.
Speaking to media at the mine recently, Barrick president and
chief executive Mark Bristow said last year the complex
contributed $260 million directly to the Malian economy in the
form of dividends, royalties and taxes. Indirect contributions,
including payments of salaries and to suppliers, totalled $570
million.
“We continue to promote and develop our local partnerships,
creating and contracting an all-Malian joint venture to mine
the new Gara West open pit and engaging a Malian contractor
to work with an international mining company on the
pushback of the new Yalea pit. It’s worth noting that our strong
partnership network has been a significant factor in enabling
Loulo-Gounkoto to maintain an exemplary performance in the
face of the many challenges recently experienced by Mali,”
Bristow said.
In line with Barrick’s GHG emissions reduction strategy,
Loulo-Gounkoto is expanding its solar power plant by 40MW,
targeting an annual CO 2-e savings of more than 62kt. Since
its commissioning in the third quarter of 2020, the solar power
plant has cut emissions by 57,000 tonnes of CO 2 equivalent
emissions.
BARRICK YEAR-END 2022 7 PRESS RELEASE
A celebratory groundbreaking ceremony marked the commencement of construction for a 200MW solar power plant near Dunphy, Nevada.
ALL-TERRAIN WOMAN
Pueblo Viejo heavy equipment operator Kimin Chonjo has
become the first female Dominican to operate a DI650 drill in
Central America and the Caribbean. Chonjo’s achievement
was confirmed by Sandvik, the manufacturer of the DI650,
which is a self-contained, track-mounted, down-the-hole,
diesel-powered drill rig, designed for demanding, high-
capacity, large-scale production drilling applications in surface
mining and quarries.
Born in the Dominican Republic, Kimin joined Pueblo Viejo in
2012 and is part of the Mine Operations team. When she
started working for Pueblo Viejo, she enrolled in training
programs, where she developed the skills and abilities to
safely operate six different types of heavy machinery. “Being
an operator and managing all this equipment fills me with
great satisfaction and joy. I see myself as a warrior, showing
other women that through Barrick I have the opportunity to be
an all-terrain woman,” Chonjo says.
SPEAKING UP TO STOP
Open pit superintendent Heather Dahlman has been
recognized by her colleagues at NGM for courageous
leadership. Dahlman received the Zero Harm trophy, part of
the DNA Awards program at NGM, for recognizing that safety
could be improved on a particular task and stopping work —
even though the task was a high priority — to improve safety
around the procedure.
“For all of us at times, it can be intimidating to speak up,” says
Dahlman. “But knowing it could save a life is what gives me
the courage to do so, no matter what the job is. The Stop
Unsafe Work Authority is the greatest tool that NGM can give
us. I have the responsibility to progress safety and speak up
when I see something happening — and I expect others to do
the same and watch out for me. We are a team and we need
each other in this journey.”
LADIES LEAD IN DEVELOPMENT
Fourteen women employed across Barrick’s mines in the
Africa and Middle East region have completed the
Professional Management Development course at the
University of Cape Town’s Graduate School of Business.
These women were selected based on their value-adding
contributions in their respective field as well as on their future
leadership potential.
BARRICK YEAR-END 2022 8 PRESS RELEASE