Barrick Gold Corporation is a mining company that produces gold and copper with 16 operating sites in 13 countries. It is headquartered in
Toronto, Ontario
Toronto ( ; or ) is the capital city of the Canadian province of Ontario. With a recorded population of 2,794,356 in 2021, it is the most populous city in Canada and the fourth most populous city in North America. The city is the ancho ...
,
Canada
Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tot ...
. It has mining operations in
Argentina
Argentina (), officially the Argentine Republic ( es, link=no, República Argentina), is a country in the southern half of South America. Argentina covers an area of , making it the second-largest country in South America after Brazil, th ...
, Canada,
Chile
Chile, officially the Republic of Chile, is a country in the western part of South America. It is the southernmost country in the world, and the closest to Antarctica, occupying a long and narrow strip of land between the Andes to the east a ...
,
Côte d'Ivoire,
Democratic Republic of the Congo
The Democratic Republic of the Congo (french: République démocratique du Congo (RDC), colloquially "La RDC" ), informally Congo-Kinshasa, DR Congo, the DRC, the DROC, or the Congo, and formerly and also colloquially Zaire, is a country in ...
,
Dominican Republic
The Dominican Republic ( ; es, República Dominicana, ) is a country located on the island of Hispaniola in the Greater Antilles archipelago of the Caribbean region. It occupies the eastern five-eighths of the island, which it shares with ...
,
Mali
Mali (; ), officially the Republic of Mali,, , ff, 𞤈𞤫𞤲𞥆𞤣𞤢𞥄𞤲𞤣𞤭 𞤃𞤢𞥄𞤤𞤭, Renndaandi Maali, italics=no, ar, جمهورية مالي, Jumhūriyyāt Mālī is a landlocked country in West Africa. Mal ...
,
Papua New Guinea
Papua New Guinea (abbreviated PNG; , ; tpi, Papua Niugini; ho, Papua Niu Gini), officially the Independent State of Papua New Guinea ( tpi, Independen Stet bilong Papua Niugini; ho, Independen Stet bilong Papua Niu Gini), is a country i ...
,
Saudi Arabia
Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in Western Asia. It covers the bulk of the Arabian Peninsula, and has a land area of about , making it the fifth-largest country in Asia, the second-largest in the A ...
,
Tanzania
Tanzania (; ), officially the United Republic of Tanzania ( sw, Jamhuri ya Muungano wa Tanzania), is a country in East Africa within the African Great Lakes region. It borders Uganda to the north; Kenya to the northeast; Comoro Islands ...
, the
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territori ...
and
Zambia
Zambia (), officially the Republic of Zambia, is a landlocked country at the crossroads of Central, Southern and East Africa, although it is typically referred to as being in Southern Africa at its most central point. Its neighbours are t ...
. In 2019, it produced 5.5 million ounces of gold at all-in sustaining costs of $894/ounce and 432 million pounds of copper at all-in sustaining costs of $2.52/pound. the company had 71 million ounces of proven and probable gold reserves.
Barrick has met or beaten market consensus on its financial and operating results for eleven consecutive quarters as of Q3 2021.
Barrick had been the world's largest gold mining company until
Newmont Corporation
Newmont Corporation is a gold mining company based in Greenwood Village, Colorado, United States. It is the world's largest gold mining corporation. Incorporated in 1921, it owns gold mines in Nevada, Colorado, Ontario, Quebec, Mexico, the Domin ...
acquired
Goldcorp
Goldcorp Inc. was a gold production company headquartered in Vancouver, British Columbia, Canada. The company employed about 15,800 people worldwide, engaged in gold mining and related activities including exploration, extraction, processing and ...
in 2019. Barrick expects to produce between 4.6 and five million ounces of gold and between 440 and 500 million pounds of copper in 2020.
Chief executive Mark Bristow said in 2020 that Barrick has debated moving its primary stock listing to the
New York Stock Exchange
The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed ...
from the
Toronto Stock Exchange
The Toronto Stock Exchange (TSX; french: Bourse de Toronto) is a stock exchange located in Toronto, Ontario, Canada. It is the 10th largest exchange in the world and the third largest in North America based on market capitalization. Based in the ...
, broadening its exposure to potential investors.
History
Founding and early years
Barrick Resources
Barrick Gold Corporation evolved from a
privately held North American oil and gas company, Barrick Resources. After suffering financial losses in oil and gas, founder
Peter Munk
Peter Munk (November 8, 1927 – March 28, 2018) was a Hungarian-Canadian businessman, investor, and philanthropist. He was the founder and chief executive officer of a number of high-profile business ventures, including the hi-fi electronics co ...
(1927–2018) decided to refocus the company on gold. Barrick Resources Corporation became a
publicly traded company
A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (list ...
on May 2, 1983, listing on the
Toronto Stock Exchange
The Toronto Stock Exchange (TSX; french: Bourse de Toronto) is a stock exchange located in Toronto, Ontario, Canada. It is the 10th largest exchange in the world and the third largest in North America based on market capitalization. Based in the ...
.
The company was set up not as a conventional mining company, but a mergers and acquisitions entity that bought mining companies.
1986 to 2005
Goldstrike
In the 1980s, Barrick Gold purchased Goldstrike, which was a rapid success making Barrick one of the biggest gold mining companies globally.
American Barrick
Reflecting its identity as a North American producer, distinct from its South African competitors, the company's name was changed to American Barrick Resources in 1986. It was listed on the
New York Stock Exchange
The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed ...
in February 1987. Its name was changed to Barrick Gold Corporation in 1995.
Barrick Gold Corporation
American Barrick became the third-largest gold mining company in the world when it acquired
Lac Minerals in 1994, which owned mining properties in North and South America. Two years later, in 1996, Arequipa Resources, owner of properties including the Pierina mine in
Peru
, image_flag = Flag of Peru.svg
, image_coat = Escudo nacional del Perú.svg
, other_symbol = Great Seal of the State
, other_symbol_type = National seal
, national_motto = "Firm and Happy f ...
, accepted a takeover offer from the renamed Barrick Gold Corporation. A third acquisition followed in early 1999, when Barrick Gold acquired Sutton Resources Ltd., assuming ownership of properties in
Tanzania
Tanzania (; ), officially the United Republic of Tanzania ( sw, Jamhuri ya Muungano wa Tanzania), is a country in East Africa within the African Great Lakes region. It borders Uganda to the north; Kenya to the northeast; Comoro Islands ...
.
In 2001, Barrick acquired
Homestake Mining Company
Homestake Mining Company was one of the largest gold mining businesses in the United States and the owner of the Homestake Mine in Lead, South Dakota. Founded in 1877, it was acquired by Barrick Gold in December 2001.
Homestake was the longest- ...
for $2.3 billion in stock, then one of the oldest mining companies in the United States.
The purchase made Barrick the second-largest gold producer in the world.
Placer Dome acquisition
In December 2005, Barrick launched a
hostile takeover
In business, a takeover is the purchase of one company (the ''target'') by another (the ''acquirer'' or ''bidder''). In the UK, the term refers to the acquisition of a public company whose shares are listed on a stock exchange, in contrast to t ...
bid valued at US$9.2 billion for rival Canadian gold miner Placer Dome. The $10.4 billion transaction closed in December 2006. The procurement made Barrick the owner of the
Porgera Gold Mine
The Porgera Gold Mine is a large gold and silver mining operation in near Porgera, Enga province, Papua New Guinea (PNG), located at the head of the Porgera Valley. The mine is situated in the rain forest covered highlands at an altitude of 2,200 ...
in Papua New Guinea.
Shortly after the merger, Barrick, seeking increased profitability, terminated many of the staff at Placer Dome who led the community relations work.
2006 to present
African Barrick Gold
In February 2010, Barrick Gold announced plans to create a separate company to hold its assets in Tanzania, called
African Barrick Gold.
Barrick Gold would retain majority ownership in the new company, after its listing on the
London Stock Exchange
London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St P ...
(LSE).
African Barrick Gold was listed on the London Stock Exchange in mid-March 2010, with an IPO valuation at US$3.6 billion. The shares offered on the LSE raised just more than 500 million pounds. In June the company was admitted to the
FTSE 100 Index.
Equinox Minerals
In April 2011, Barrick beat a takeover offer for
Equinox Minerals by
China Minmetals
China Minmetals Corporation is a Chinese metals and mineral trading company headquartered in Beijing. It is a state-owned corporation under direct supervision of the State-owned Assets Supervision and Administration Commission (SASAC). China Min ...
.
Shandong Gold
In 2018, John L. Thornton orchestrated a strategic “trust-based relationship” between Barrick Gold and Shandong Gold Group, a Chinese state-owned enterprise, establishing joint ownership of the Veladero mine to capitalize on Shandong's investor base, capital suppliers, political connections, and regional influence. In the press release announcing the partnership, Thornton said that Barrick and Shandong were looking forward to “sharing… capital in ways that will create added value for our respective owners, and our government and community partners in San Juan province”.
Randgold Resources
In September 2018, Barrick Gold announced an all-stock merger with
Randgold Resources
Randgold Resources is a gold mining business operating mainly in Mali. Headquartered in Jersey, Channel Islands, it was listed on the London and the NASDAQ stock exchanges until it merged with Barrick Gold in December 2018.
History
The company w ...
in a deal valued at $6.5 billion. Immediately following the announcement of the merger, Randgold shares rose 6% and Barrick shares rose 5.6%.
The deal created the world's largest gold producer with the new company listed on the Toronto Stock Exchange and New York Stock Exchange.
The companies began talking about a combination in 2015 and the deal was orchestrated by Barrick Executive Chairman John L. Thornton and Randgold Founder and CEO Mark Bristow.
Newmont Corporation
In February 2019, Barrick Gold announced a hostile $19 billion bid to acquire Newmont Mining Corporation, an American company based in Denver, Colorado. It was estimated that a merger could create $7 billion of value in operational synergies and would result in a 14% rise in Newmont's net asset value per share. The deal would have created a gold mining company with a market value of about $42 billion that some said would be a long-overdue restructuring of the global gold industry. Merging gold companies could make the industry more attractive to general investors as gold reserves are shrinking across the globe so fewer competitors could boost growth prospects. Newmont rejected the takeover offer and instead suggested the two companies' operations in Nevada, USA, be merged with Newmont CEO Gary Goldberg insisting that the joint venture be operated by Newmont with the two companies dividing the ownership equally. A joint venture was subsequently announced in March 2019 with Barrick as the operator owning 61.5% of the business.
Nevada Gold Mines
On July 1, 2019, Barrick and
Newmont Corporation
Newmont Corporation is a gold mining company based in Greenwood Village, Colorado, United States. It is the world's largest gold mining corporation. Incorporated in 1921, it owns gold mines in Nevada, Colorado, Ontario, Quebec, Mexico, the Domin ...
launch Nevada Gold Mines. The combined operation is the single largest gold mining complex in the world and employs more than 7,000 people.
It combined the mines
Goldstrike,
Cortez, Turquoise Ridge, and Goldrush from Barrick and Newmont's Carlin, Twin Creeks, Phoenix, Long Canyon sites, plus the associated processing plants and infrastructure of both companies. The joint venture was created after Barrick gave up a takeover bid for Newmont in early 2019.
Nevada Gold Mines in total comprises 10 underground and 12 opencast mines, two autoclave facilities, two roasting facilities, four oxide mills, a flotation plant and five heap leach facilities. Barrick owns 61.5% of the joint venture and operates the business, while Newmont owns 38.5%. It was estimated that $500 million could be saved by creating the joint venture in average annual synergies during the first five years of operating the joint venture. After its first year of operation, $35 million in operating and management costs were saved.
Over 20 years, it is estimated that $4.7 billion of total savings will be realised.
Reko Diq Project
Pakistan plans to grant Barrick a mining lease, exploration license and surface rights to restart the Reko Diq copper-gold project, it was announced in March 2022.
The project when in production has the potential to be one of the top five gold-copper mines in the world.
It has the potential to produce 250,000 ounces of gold and 200,000 tons of copper every year for more than half a century and could be in production by 2027.
It was estimated that the project site contains up to 42 million ounces of gold and 54 billion pounds of copper in a study done in 2010. The mineral deposit was discovered at the foot of an extinct volcano in the 2000s. Work on the project was stopped in 2011 when a mining license to develop the Reko Diq mine was refused to be granted by Pakistani authorities.
Ownership of the mine is to be split evenly between Pakistan and Barrick, which are investing about $10 billion in the project, which is the single largest investment in the country.
About 8,000 jobs are expected to be created and about $1 billion will be invested in a new mining technical school along with hospital, schools and roads in the province of Balochistan, which is poor and sparsely populated.
Construction of the mine will take place in two phases beginning with a processing plant with the capacity of 40 million tonnes per year and doubling five years after being commissioned.
Berkshire Hathaway
Berkshire Hathaway
Berkshire Hathaway Inc. () is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States. Its main business and source of capital is insurance, from which it invests the float (the retained premiu ...
disclosed that it purchased $562 million in shares of Barrick during the second quarter of 2020, immediately making it the eleventh-largest shareholder in the company. The new position is 20.9 million shares, which is 1.2% of the company's outstanding stock. Berkshire CEO
Warren Buffett
Warren Edward Buffett ( ; born August 30, 1930) is an American business magnate, investor, and philanthropist. He is currently the chairman and CEO of Berkshire Hathaway. He is one of the most successful investors in the world and has a net ...
and his key business partner
Charlie Munger
Charles Thomas Munger (born January 1, 1924) is an American billionaire investor, businessman, and former real estate attorney. He is vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett; Buffett has described Mun ...
have a history of dismissing gold as an attractive investment, saying a fine business run by good managers with cash flows and paying dividends is more productive than the precious metal. Buffett has previously said owning shares of quality companies is more valuable than owning gold itself. Buffett later sold his entire stake in the company.
Carbon footprint
Barrick Gold reported Total
CO2e emissions (Direct + Indirect) for 31 December 2020 at 7,351 Kt.
[Alt URL]
/ref> It has set a greenhouse gas emissions reduction target of 30% and will be net-zero carbon emissions by 2050. 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. Mining companies had been coming under pressure from climate-focused investors to set decarbonization
Climate change mitigation is action to limit climate change by reducing emissions of greenhouse gases or removing those gases from the atmosphere. The recent rise in global average temperature is mostly caused by emissions from fossil fuels b ...
targets. The global mining industry including its biggest companies like Rio Tinto Rio Tinto, meaning "red river", may refer to:
Businesses
* Rio Tinto (corporation), an Anglo-Australian multinational mining and resources corporation
** Rio Tinto Alcan, based in Canada
** Rio Tinto Borax in America
*** Rio Tinto Borax Mine, ...
, BHP
BHP Group Limited (formerly known as BHP Billiton) is an Australian multinational mining, metals, natural gas petroleum public company that is headquartered in Melbourne, Victoria, Australia.
The Broken Hill Proprietary Company was founded ...
and Anglo American is responsible for 4% to 7% of greenhouse gas emissions globally.
Operations
Gold
Copper
Former operations
Mining practices
Environmental and human rights violations have taken place around a number of mining operations that are now closed or were previously operated by a different company, including violence in Papua New Guinea and Tanzania. Forty people were arrested in Chile following a demonstration against the potential environmental impacts of a mining project that has not been built. Executives of Acacia Mining, which had mining operations in Tanzania and was acquired in 2019, had faced charges of bribery, conspiracy, forgery, money-laundering, tax-evasion and environmental damage. There has also been small groups of opposition in the Dominican Republic.
Voluntary Principles on Security and Human Rights
In 2010, Barrick Gold Corporation became the 18th company to join the Voluntary Principles on Security and Human Rights The Voluntary Principles on Security and Human Rights is a collaborative effort by governments, major multinational extractive companies, and NGOs to provide guidance to companies on tangible steps that they can take to minimize the risk of human ri ...
which provides "guidance to extractives companies on maintaining the security of their operations in a manner that respects human rights and fundamental freedoms." Admission follows an eight step process that requires approval by the Voluntary Principles plenary, the main decision-making body, consisting of all active members, drawn from participating governments, companies and non-governmental organizations. Barrick Gold participates in a number of corporate social responsibility programs, such as the United Nations Global Compact
The United Nations Global Compact is a non-binding United Nations pact to encourage businesses and firms worldwide to adopt sustainable and socially responsible policies, and to report on their implementation. The UN Global Compact is a princi ...
. The company is a signatory to the Extractive Industries Transparency Initiative. It also participates i
The_Global_Reporting_Initiative
.html" ;"title="Global Reporting Initiative">The Global Reporting Initiative
">Global Reporting Initiative">The Global Reporting Initiative
br>Business for Social Responsibility
and The Global Business Coalition on HIV/Aids, Tuberculosis and Malaria. On September 7, 2007, Barrick was added to the Dow Jones Sustainability Index. The company is a member of The International Leadership Council (ILC) of The Nature Conservancy. In Papua New Guinea, the Porgera Joint Venture participated in the development of a wildlife conservation area in the Kaijende Highlands.
Argentina
Environment
Between 2015 and 2017, three separate incidents occurred where processing solution escaped the leach pad area. In September 2015, 1,072m3 of processing solution was released from a faulty valve on a pipe going to the heap leach pad and was not diverted to the tailings storage facility because of a malfunctioning gate. In September 2016, a pipe carrying processing solution was struck by falling ice that had rolled down a slope, and in March 2017, a pipe carrying a mixture of rocks came loose. After the first accident in 2015, local judge Pablo Oritja of Argentina indicted nine employees, and a fine of $9.8 million was levied. Authorities in San Juan province responded with plans to re-engineer some operational and environmental processes at the mine, which were audited by local and international experts. The ''National Observer'' obtained court documents with allegations from a former employee that his employment was terminated soon after concerns were raised about health and safety and environmental practices in 2014.
2016 Class Action Lawsuit
A U.S. class-action lawsuit was launched in 2016 accusing the company of fraudulently inflating its market value by concealing problems at Pascua Lama, a South American mine under development. Development of the mine was indefinitely halted on October 31, 2013, and people who purchased shares between May 7, 2009, and November 1, 2013, were part of the class-action lawsuit. Development was halted for a number of issues including cost overruns, environmental concerns and the falling price of gold that would have made the operation less economical. A $140 million settlement was reached two months later with no charges of wrongdoing or liability and the company stating the claims alleged by the lead plaintiffs are unfounded.
Canada
Talonbooks
In February 2010, lawyers for Barrick Gold threatened to sue the Canadian publisher Talonbooks
Talonbooks is an independent publisher of Canadian literature based in Vancouver, British Columbia. Its repertoire features authors writing in the literary genres of poetry, fiction and drama, as well as non-fiction books in the fields of ethnogra ...
for defamation if it proceeded with plans to publish the book ''Imperial Canada Inc.: Legal Haven of Choice for the World's Mining Industries'' by Alain Deneault. Publisher Karl Siegler described this as " libel chill," pointing out that since the book had not yet been published, Barrick Gold could not know whether or not its contents actually constituted defamation. Subsequently, Talon decided to publish the work () and "issued a statement saying they 'intend to show the complete manuscript to Barrick prior to the book's release, to allow Barrick the opportunity to "correct" any "falsehoods" about how they conduct their business affairs, worldwide, that they feel it may contain.'"[
]
Noir Canada
A 2011 decision in Quebec Superior Court had ruled that Barrick Gold had to pay $143,000 to authors Alain Deneault, Delphine Abadie, William Sacher, and publisher Les Éditions Écosociété Inc to prepare their defense in a "seemingly abusive" strategic lawsuit against public participation. Despite the Québec ruling, a book "Noir Canada" documenting the relationship between Canadian mining corporations, armed conflict, and political actors in Africa was never published as part of a settlement which, according to the authors, was only made for the sole purpose of resolving the three-and-a-half year legal battle.
Papua New Guinea - Porgera Gold Mine
Human Rights Abuses
In 2011, Human Rights Watch
Human Rights Watch (HRW) is an international non-governmental organization, headquartered in New York City, that conducts research and advocacy on human rights. The group pressures governments, policy makers, companies, and individual human r ...
, a New York City-based international non-governmental organization
A non-governmental organization (NGO) or non-governmental organisation (see American and British English spelling differences#-ise, -ize (-isation, -ization), spelling differences) is an organization that generally is formed independent from g ...
that conducts research on human rights, found a pattern of abuses perpetrated by private and public law-enforcement personnel in 2009 and 2010 in the Porgera Gold Mine
The Porgera Gold Mine is a large gold and silver mining operation in near Porgera, Enga province, Papua New Guinea (PNG), located at the head of the Porgera Valley. The mine is situated in the rain forest covered highlands at an altitude of 2,200 ...
in Papua New Guinea. Human Rights Watch says that violent insecurity is a “chronic problem” around Porgera due to people engaging in illegal mining and continuously raiding various areas of the mining property including the open pit, stockpile areas for rock, waste dumps, and underground tunnels. Human Rights Watch said the government of Papua New Guinea has “consistently failed” to maintain law and order in the area and that responsible government regulation was the one essential component still lacking to manage the unstable social situation in the area. On the same day Human Rights Watch published its report, the company said it had been working with Human Rights Watch for six months on a series of actions in response to the investigation, which included improvements to the security environment, enhanced human rights training, and grievance mechanisms. A “remedy framework” called the Porgera Remedy Framework was set up as an alternative to the local judicial system to deliver compensation packages.
In June 2014, Amnesty International reported that local police forced evictions by way of arson from land adjacent to the mine. The report said that community leaders presumed the alleged actions by the police were an effort to prevent illegal mining.
In 2022 Canadaland
Canadaland is a Canadian company that operates a news site and a network of podcasts. It was founded by Jesse Brown in 2013. Canadaland has produced podcasts on Canadian media, art and culture, cooking, medicine, and politics. Podcasts include ...
reported that hundreds of women reported being raped at the mine by security contractors. According to journalist Richard Poplak, interviewed by Canadland in 2022, guards at the mine used sexual violence against women as a policy to deter them from the mine. The policy, according to Poplak, started in 2003 or 2004 (before Barrick's ownership) and increased in implementation after Barrick bought the mine.
Peter Munk
Peter Munk (November 8, 1927 – March 28, 2018) was a Hungarian-Canadian businessman, investor, and philanthropist. He was the founder and chief executive officer of a number of high-profile business ventures, including the hi-fi electronics co ...
prevented intervention by a shareholder proxy from speaking at the 2008 shareholder meeting about her reports of deadly violence and sexual violence from security contractors and took until 2010 to accept the reports were true. A compensation scheme was set up and paid 119 survivors of sexual violence around CAD$8,000 per person on the condition that they agreed not to sue Barrick Gold.
Ownership
Soon after the Human Rights Watch 2011 publication, the mine, which was owned jointly by Barrick, Zijin Mining Group of China, and local landowners through Mineral Resources Enga, was nationalized by the government of Papua New Guinea under Prime Minister James Marape
James Marape (born 24 April 1971) is a Papua New Guinean politician, who is serving as the Prime Minister of Papua New Guinea since May 2019. He has been a member of the National Parliament of Papua New Guinea since July 2007, representing the el ...
when the government did not renew the mining lease, and it expired in August 2019. The gold mine, which contributes about 10% of Papua New Guinea's total exports, was seen by Prime Minister James Marape as a way for the country to get a greater share of its major natural resource projects. In response, Barrick Gold sued the government in the Papua New Guinea courts and in an industrial tribunal. The government backed down after negotiating a greater ownership share in the joint venture.
Environmental concerns
The mine has, for many years, been severely contaminating the Porgera River, adjacent rivers, and the Gulf of Papua
The Gulf of Papua is located in the southern coast region of New Guinea. It has a total surface area of .
Geography
Some of New Guinea's largest rivers, such as the Fly River, Turama River, Kikori River, Purari River, and Wawoi River flow ...
.
Peru
In February 2021, Barrick Gold announced it would sell its Lagunas Norte mine in Peru. The mine is sold to Boroo Pte Ltd. for up to US$81 million.
Water
The BBC reported in September 2012 that one person was killed and at least four more were injured at the Barrick Pierina mine in the northern Ancash region of Peru in clashes between national police and members of a neighboring community who were protesting the mine's alleged over-consumption and contamination of local water sources during a drought. Villagers from the communities of Mareniyoc and San Isidro blocked an access road to the mine and entered the property by forcing open the mine gate. Community members asked that the mine provide the communities with drinking water. Operations at the mine resumed after two days.
United States
Cortez Hills
Through 2009 and into 2010, Barrick Gold's Cortez Hills project was the subject of litigation in Nevada, seeking to block the project. Opponents appealed to the United States Court of Appeals for the Ninth Circuit
The United States Court of Appeals for the Ninth Circuit (in case citations, 9th Cir.) is the U.S. federal court of appeals that has appellate jurisdiction over the U.S. district courts in the following federal judicial districts:
* District ...
, challenging a ruling in the United States District Court for the District of Nevada
United may refer to:
Places
* United, Pennsylvania, an unincorporated community
* United, West Virginia, an unincorporated community
Arts and entertainment Films
* ''United'' (2003 film), a Norwegian film
* ''United'' (2011 film), a BBC Two f ...
, which denied the bid to block the project. The Appeals Court "upheld a federal judge's finding that opponents of the mine failed to prove they were likely to prevail on claims the mine would cause visual harm to Mount Tenabo and create a substantial burden on the tribes' ability to exercise their religion" but ruled the U.S. Bureau of Land Management's previous environmental review of water and air pollution impacts "was inadequate under the National Environmental Policy Act
The National Environmental Policy Act (NEPA) is a United States environmental law that promotes the enhancement of the environment and established the President's Council on Environmental Quality (CEQ). The law was enacted on January 1, 1970.Un ...
" and ordered the District Court to provide "appropriate" injunctive relief while the Bureau of Land Management conducted further study. In March 2011 the Bureau of Land Management approved a subsequent study on environmental impacts, allowing the mine to operate as originally proposed.
Western Shoshone
In 2008, the company negotiated an agreement with four of five regional Western Shoshone Western Shoshone comprise several Shoshone tribes that are indigenous to the Great Basin and have lands identified in the Treaty of Ruby Valley 1863. They resided in Idaho, Nevada, California, and Utah. The tribes are very closely related cultur ...
tribes, providing financial resources for education and wellness initiatives, including a long-term scholarship program, allocated at the Tribes' discretion. A former tribal chairman of the Duck Valley Shoshone spoke of the company as "a pretty progressive entity." In British Columbia the Tahltan Nation has thanked the company for encouraging local sustainable development while operating the Eskay Creek mine from 2001 to 2008.
See also
* Gregory Charles Wilkins
* Porgera Gold Mine
The Porgera Gold Mine is a large gold and silver mining operation in near Porgera, Enga province, Papua New Guinea (PNG), located at the head of the Porgera Valley. The mine is situated in the rain forest covered highlands at an altitude of 2,200 ...
* Pueblo Viejo mine
The Pueblo Viejo mine is a gold mine located in the north-central region of the Dominican Republic in the Sánchez Ramírez Province. It is the largest gold mine in Latin America and fifth largest in the world. It is also the first exploited mine ...
* Veladero mine
References
Further reading
*
External links
*
*
{{Authority control, state=expanded
Canadian companies established in 1983
Companies based in Toronto
Companies listed on the Toronto Stock Exchange
Gold mining companies of Canada
Non-renewable resource companies established in 1983
S&P/TSX 60
Silver mining companies of Canada
1983 establishments in Canada
Gold mining companies of the Democratic Republic of the Congo