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Toronto, February 16, 2022 — Driven by strong performances from its Africa & Middle East and Latin America regions, Barrick’s production in 2021 was in line with guidance for the third successive year. The Company also more than replaced its gold reserves net of depletion at a better grade.

Announcing the annual results, the Company said its reserve replenishment was attributable to continued brownfields exploration success and it was extending its drive for fresh discoveries into new prospective territories. Among other initiatives, it has set up a specialist Asia-Pacific team to identify and evaluate opportunities in that region.

Free cash flow from the operations remained robust and at the year’s end, net cash stood at $130 million after the record cash distribution of $1.4 billion to shareholders. The fourth quarter dividend was increased by 11% to 10 cents per share. Under the Company’s new dividend policy, a base dividend will in future be coupled to a performance dividend linked to the net cash on the balance sheet.1 The Board also approved a share buyback program of up to $1 billion, given our belief that the shares are trading in a price range that does not reflect the value of the Company’s mining and financial assets and future business prospects.

 

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* QUARTER ON QUARTER

 

Financial and Operating Highlights

 

Financial Results		Q4   2021		Q3 2021		2021		2020
Realized gold price3  ($ per ounce)		1,793		1,771		1,790		1,778
Net earnings  ($ millions)		726		347		2,022		2,324
Adjusted net earnings4  ($ millions)		626		419		2,065		2,042
Net cash provided by  operating activities ($ millions)		1,387		1,050		4,378		5,417
Free cash flow2  ($ millions)		718		481		1,943		3,363
Net earnings per share  ($)		0.41		0.20		1.14		1.31
Adjusted net earnings  per share4 ($)		0.35		0.24		1.16		1.15
Attributable capital  expenditures5 ($ millions)		552		456		1,951		1,651
Operating Results		Q4 2021		Q3 2021		2021		2020
Gold
Production6  (thousands of ounces)		1,203		1,092		4,437		4,760
Cost of sales6,7  ($ per ounce)		1,075		1,122		1,093		1,056
Total cash costs6,8  ($ per ounce)		715		739		725		699
All-in sustaining costs6,8  ($ per ounce)		971		1,034		1,026		967
Copper
Production6  (millions of pounds)		126		100		415		457
Cost of sales6,7  ($ per pound)		2.21		2.57		2.32		2.02
C1 cash costs6,9  ($ per pound)		1.63		1.85		1.72		1.54
All-in sustaining costs6,9  ($ per pound)		2.92		2.60		2.62		2.23

Q4 and Full Year 2021 Results Presentation

Webinar and Conference Call

President and CEO Mark Bristow will host a virtual presentation today at 11:00 EST / 16:00 GMT, 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

 

◾	Barrick delivers production in line with guidance for third consecutive year

 

◾	Nevada Gold Mines achieves highest quarterly production since its formation

 

◾	Strong Q4 for Lumwana with Jabal Sayid at top end of production guidance range

 

◾	Attributable group reserves more than replaced depletion at better grade

 

◾	Reserve replacement and 10 year plan reinforced by a robust pipeline

 

◾	Generative work drives a newly invigorated exploration team

Leader in Sustainability

 

◾	TRIFR10 reduced by over 10% year on year

 

◾	All operational sites now certified to ISO 45001 and ISO 14001

 

◾	Water recycling and reuse target beat with an efficiency of 83%

 

◾	Human Rights Report published in Q4

 

◾	Barrick continues to set the standard in Biodiversity Management

Delivering Value

 

◾	Operating cash flow of $1.4 billion and free cash flow2 of $0.7 billion for the quarter

 

◾	Net cash of $130 million after record $1.4 billion distribution to shareholders in 2021

 

◾	2021 net earnings of $1.14 per share and adjusted net earnings of $1.16 per share4

 

◾	New performance dividend policy supported by increased base dividend of $0.10 per share

 

◾	Share buyback announced for up to $1 billion

 

Speaking at the results presentation, president and chief executive Mark Bristow said three years after the Randgold merger, Barrick was clearly achieving its goal of industry-leading value creation and sustainable profitability.

“By any measure, Barrick is clearly the stand-out in its sector. We have what is undoubtedly the best asset base, with six Tier One¹¹ mines, and more waiting in the wings. We have a long record of exploration success and a high-quality target pipeline. In an industry running out of raw material, we keep expanding our reserves. Our strong balance sheet will fund our investment in growth projects. All our mines have 10-year business plans, based not on wishful thinking but on geological understanding, engineering and commercial reality,” he said.

Bristow said Barrick’s 10-year production forecast was based solely on its existing mines and did not take into account the many real growth opportunities that were within its reach. In addition to the potential for further exploration success, the

Company is advancing its pipeline of large growth projects, including Donlin Gold, Pascua-Lama and Norte Abierto, while at the same time working on the resumption of operations at Porgera, currently penciled in for July this year.

“All Barrick’s mines have earned their social license to operate, and we work hard to maintain them. Sustainability is at the heart of our business, and it’s not a virtue-signaling exercise. Caring about the people and the environments impacted by our operations is a moral imperative, but it also makes good commercial sense, as Barrick’s partnership philosophy has proved time and again. This year we’ll again be publishing a detailed Sustainability Report which, among other things, objectively rates our performance against all critical ESG metrics. We’re in the 95th percentile of the Dow Jones Sustainability World Index and in the top 5% for environmental policy and management, mineral waste management, closure and social impact,” he said.

 

The Barrick Board of Directors declared a dividend of $0.10 per share for the fourth quarter of 2021 that will be paid on March 15, 2022 to shareholders of record at the close of business on February 28, 2022.¹ This represents an increase of 11% on the previous base quarterly dividend of $0.09 per share.

Barrick has now established a performance dividend policy that will enhance the return to shareholders when the Company’s liquidity is strong.

“Our strong operating performance and financial strength has allowed us to further increase our base quarterly dividend and provide our shareholders with guidance on additional performance dividends going forward” said senior executive vice-president and chief financial officer Graham Shuttleworth. “In addition to the enhanced dividend, the announcement of a share repurchase program highlights that Barrick continues to be committed to returning value to our shareholders.”

 

The amount of the performance dividend on a quarterly basis will be based on the amount of net cash on Barrick’s Consolidated Balance Sheet as per the following schedule:

 

Performance   Dividend   Level		Threshold Level		Quarterly Base Dividend		Quarterly Performance Dividend		Quarterly   Total   Dividend
Level I		Net cash <$0		$0.10 per share		$0.00 per share		$0.10 per share
Level II		Net cash >$0 and <$0.5B		$0.10 per share		$0.05 per share		$0.15 per share
Level III		Net cash >$0.5B and <$1B		$0.10 per share		$0.10 per share		$0.20 per share
Level IV		Net cash >$1B		$0.10 per share		$0.15 per share		$0.25 per share

 

The Company plans to undertake a share repurchase program to allow for the buy back of some of its common shares.

Barrick’s Board of Directors has authorized a share repurchase program for the repurchase of up to $1.0 billion of the Company’s outstanding common shares over the next 12 months at prevailing market prices in accordance with applicable law.

“We believe that the shares are trading in a price range that does not reflect the value of the Company’s mining and financial assets and future business prospects,” said Mark Bristow, President and Chief Executive Officer. “We have the financial strength to undertake this program.”

Under the program, repurchases can be made from time 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 common shares that may be purchased, if any, and the timing of any such purchases, will be determined by Barrick based on a number of factors, including the Company’s financial

performance, prevailing market prices of the common shares, 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 repurchase program may be suspended or discontinued at any time at the Company’s discretion.

 

Reported at $1,200/oz¹², attributable proven and probable mineral reserves now stand at 69 million ounces¹³ at 1.71g/t, increasing from 68 million ounces¹⁴ at 1.66 g/t in 2020.

President and chief executive Mark Bristow said in a sector feeling the pinch of dwindling reserves and resources, successful exploration continued to replenish the Company’s asset base and target pipeline, securing its business plans well into the future.

“While we look closely at all new business opportunities, we believe finding our ounces is always better than buying them. That’s why we’re still discovering real value at the end of our drill bits,” he said.

The growth was led by the North America and Africa & Middle East regions, which contributed over 8.4 million ounces¹³ of attributable proven and probable reserve gains before depletion.

In North America, significant gains were driven by the completion of the updated feasibility study of the Goldrush underground project, which increased Goldrush’s attributable proven and probable mineral reserves by 3.6 million ounces¹³ to 4.8 million ounces¹³ at 7.29g/t. At the Turquoise Ridge complex, attributable proven and probable reserves increased by 1.4 million ounces¹³ before depletion, principally off the back of a revised geological model at Turquoise Ridge Underground.

In Africa, Bulyanhulu completed an updated underground feasibility study on the Deep West portion of the orebody, allowing us to increase attributable proven and probable reserves by 0.77 million ounces¹³ before depletion through the conversion of inferred mineral resources. Staying in Tanzania, a fully optimized integrated mine plan at North Mara has increased attributable proven and probable reserves by 1.1 million ounces¹³ before depletion. Our two Tier One mines in Africa also delivered strong results, with Kibali able to more than replace depletion of reserves and Loulo-Gounkoto replenishing 98% of depletion for the year.

Total attributable group gold resources, excluding the impact of disposition and equity changes mainly related to Lagunas Norte and Porgera, grew net of depletion, resulting in a 126%

replacement of depletion. Mineral resources are reported inclusive of reserves and at a gold price of $1,500/oz.¹² Attributable measured and indicated gold resources for 2021 stood at 160 million ounces¹³ at 1.50g/t, with a further 42 million ounces¹³ at 1.3g/t of inferred resources.

The significant increase in attributable mineral resources was led by the Carlin complex in Nevada where a total of 0.91 million ounces¹³ of measured and indicated resources and 3.0 million¹³ ounces of inferred resources were added year-on-year. This was driven by two maiden inferred resource additions, with North Leeville delivering 0.43 million ounces¹³ at 11.5g/t and Ren contributing 0.76 million ounces¹³ at 7.3g/t on an attributable basis. Both projects represent future growth for the Carlin complex and drilling continues on both targets, with mineralization open in all directions. The remaining year-on-year growth in attributable mineral resources at the Carlin complex mainly came from the open-pits at Gold Quarry and South Arturo as well as the underground at Leeville and Rita K. Staying in Nevada, the Turquoise Ridge complex also increased year-over-year attributable measured and indicated resources by 1.5 million ounces¹³ mainly off the back of a revised geological model at Turquoise Ridge Underground.

Copper mineral reserves for 2021 are estimated using a copper price of $2.75 per pound and mineral resources are estimated at $3.50 per pound, both unchanged from 2020.

Attributable proven and probable copper reserves were 12 billion pounds¹³ at an average grade of 0.38% in 2021. Attributable measured and indicated copper resources were 24 billion pounds¹³ at an average grade of 0.35%, and inferred copper resources were 2.1 billion pounds¹³ at an average grade of 0.2% in 2021. Mineral resources are reported inclusive of reserves.

Mineral resource management executive Rodney Quick said, “The geological improvements and remodeling are now starting to make a real impact. The incorporation and integration of mine design optimizations are also driving many of the mineral resource additions. A sound understanding of the geological orebody has been integrated with a better understanding of local variations in the geotechnical and metallurgical disciplines to produce integrated and optimized mine designs.”

 

Garamba National Park, DRC

Since 2014, Kibali has worked with the Garamba National Park to promote conservation and combat poaching. Garamba is one of Africa’s oldest national parks and a UNESCO World Heritage Site. It is home to the DRC’s largest elephant herd as well the critically endangered Kordofan giraffe. Kibali has funded the purchase of elephant tracking collars and their GPS fees and made improvements to roads and bridges to improve the rangers’ access to all parts of the park. Thanks to this combined effort, poaching has been radically reduced, with the last instance recorded in 2019. Our support will also fund a risk-benefit analysis for the re-introduction of white rhinos into the park.

 

 

 

Lumwana Offset Project, Zambia

Barrick has completed an eligibility study on a potential UN REDD+ project to protect forests and woodlands around the Lumwana copper mine, which is situated within the Acres National Forest Reserve. The mine has already implemented beekeeping, horticulture and nursery establishment initiatives as well as a program to curb illegal timber cutting and charcoal production. Any credits Barrick receives from the project will be used to offset hard-to-abate emissions.

Pueblo Viejo, Dominican Republic

This mine is located in a biodiversity hotspot which is home to more than 5,600 plant and 200 bird species. In 2018, a small species of diurnal gecko, classed as critically endangered by the Dominican Republic and the International Union for the Conservation of Nature (IUCN), was detected on the site. Pueblo Viejo commissioned extensive fieldwork as well as genetic and morphological studies to confirm this identification and map the gecko’s distribution. These showed that the size of the population and the extent of its habitat were greater than previously understood, and that Sphaerodactylus Samanensis could be removed from the red list. The research data has been shared with the IUCN.

 

 

 

FINA Reserve, Mali

Barrick has partnered with the government, BIOS and African Parks to restore FINA, which has been impacted by poaching, illegal wood cutting, grazing and farming, to its former glory. They are working together to demarcate and secure the park, curb illegal activities through recruiting rangers and starting aerial patrols, rehabilitate the fauna and flora, establish a proper database and install the infrastructure needed for the proper management of the park. Longer term the aim is to develop eco-tourism, with its potential for local job creation, around the rehabilitated park.

Nevada Gold Mines, USA

Across much of the Great Nevada Basin, the Greater Sage Grouse habitat is in decline due to fires, invasive plant species and human impact. To mitigate the impact of mining on the sagebrush ecosystem, Nevada Gold Mines collaborates with a wide range of partners, including the US Fish and Wildlife Service, the Bureau of Land Management and the Nevada Sagebrush Ecosystem Technical Team. To date, this team effort has rehabilitated more than 11,500 hectares of habitat and the partners are now embarking on research to better understand the birds’ breeding habits.

 

Drastically simplifying the global end-to-end solution, with one single model and source of truth for all financial data and operating KPIs, was consequently a critical priority in the quest to make Barrick the world’s leading mining company.

Towards the end of last year, Barrick passed another important milestone in its digital transformation journey with four more sites moving over to the single SAP solution which is now in place across all the Company’s North America, Latin America and Africa assets.

The platform will ultimately consist of three, layered applications: SAP (transactions), OneStream (financial planning, reporting and consolidation) and Xeras (operating cost modelling). Each has been configured to use a standardized language.

“The SAP roll-out was done at an unprecedented pace for an organization with Barrick’s scale,” says senior executive vice-president and chief financial officer Graham Shuttleworth.

“This was achieved by keeping the design consistent and aligning business practices to a standard model. With common data and business processes across all our mines,

we now have the ability to benchmark our operational performance. OneStream has also been successfully implemented globally and the roll-out of Xeras will be completed in the second quarter of this year.”

Vice-president for group integration Nico Hoffman says a single integrated knowledge platform will give Barrick the ability to convert updated mine plans into financial models and roll them up into a consolidated group view, all in a matter of minutes. It can also quickly compare the financial viability of multiple mine planning scenarios and perform what-if analyses to select the best. Measuring key cost drivers in real time enables us to flag issues which require immediate attention.

“The new platform has cut the processes involved from weeks to hours – monthly operating KPIs and financial results are now available within five days instead of weeks – and has significantly improved not only the availability but also the accuracy of our information. It has also provided a robust foundation for our continuing investment in new projects related to data and analytics, benchmarking and efficiency management,” Shuttleworth added.

 

President and chief executive Mark Bristow says the perception that Canada is a mature gold producer is being challenged by new discoveries of deposits with different model styles hosted in unconventional rocks.

To re-evaluate the paradigms and re-set the maturity clock, Barrick has assembled a team of geoscientists with a wide range of specializations, from geophysics through geochemistry to structural geology. To ensure that each opportunity is viewed holistically, the team also includes members with multi-disciplinary skill sets.

Janet Mackie, head of business development and evaluations for Barrick North America, says this cross-functional collaboration enables the team to harness operational experience in determining how best to extract value from orebodies.

“We believe there is significant potential still to be uncovered and the new team has already defined and prioritized geological districts capable of delivering high-quality deposits that meet Barrick’s stringent investment criteria,” says principal geologist David Holder.

Octavia Bath, the mineral resource manager for Barrick North America, says the team is using a rigorous due diligence process to determine the intrinsic value of new opportunities based on their economically extractable reserves and resource upside.

Bristow says Barrick continues to evaluate all promising business opportunities and last year looked closely at a number of projects and operations in Canada, none of which met its investment hurdles. Transactions done by others during this time typically involved substantial premiums which we believe would not deliver value to shareholders.

“We’ve consequently decided to follow our traditional value-creation route through discovery and development. In the short time the team has been in place, we’ve already consolidated an exploration property portfolio of 124,000 hectares and we’re now building on that,” Bristow said.

“I’ve said before that Barrick is under-invested in Canada, our home country, and we mean to correct that. The fact that it is one of the world’s most mining-friendly jurisdictions is also an incentive.”

 

The within-guidance performance was achieved with both mines retaining their ISO 45001 safety and ISO 14001 environmental accreditations, in common with Barrick’s other operations.

North Mara is on track to become a fully integrated mine with the planned commissioning of the Nyabirama pit during the current quarter and the scheduled commencement of the Nyabigena pit in the third quarter of 2022. This is expected to add substantial resources and increased flexibility to its plan.

Bulyanhulu has been re-established as a world-class, low-cost, long-life underground mine as it achieved steady state production on the successful ramp-up of its mining and metallurgical operations in December 2021.

Both mines reported a significant growth of their mineral reserves, net of depletion, for 2021.

Barrick has increased its footprint around Bulyanhulu through the acquisition of six highly prospective licenses bordering the mine, and its exploration teams are also looking elsewhere in Tanzania for new opportunities.

Barrick president and chief executive Mark Bristow said the mines’ performance had been supported by reinforced

Covid-19 protocols and the roll-out of vaccines to its workforce, 26.45% of whom have already been partially vaccinated and 20.25% fully vaccinated. Barrick is working closely with the country’s health authorities to supply four PCR machines to hospitals around the mines.

The mines also continued to recruit and upskill local people. Tanzanian nationals now account for 96% of their workforce, with 41% drawn from the surrounding villages. They are also strengthening their partnerships with local suppliers. Since Barrick re-entered Tanzania in 2019, it has spent more than $1.8 billion in taxes, salaries and payments to local businesses. It has also invested $6.7 million in community education, health and infrastructure projects.

Referring to Barrick’s recently published Human Rights Report, Bristow said the environmental and other issues it had inherited from the mines’ previous operators had been or were being settled.

The Company’s significant progress on this front was exemplified by last month’s landmark completion of the restoration of North Mara’s tailings facility pond to within its permitted design capacity, Bristow said. The rehabilitated facility has been complemented by a new high recovery water treatment plant.

 

Barrick president and chief executive Mark Bristow noted that this performance, which grew steadily stronger during the year, was achieved with no lost time injuries during the last quarter. Like all Barrick’s mines worldwide, Kibali retained its ISO 45001 safety and ISO 14001 environmental accreditations.

At the same time, Kibali continued to lead the group’s clean energy drive with power sourced from its three continuously upgraded hydropower stations supported by new back-up battery technology.

“Kibali’s performance was supported by reinforced Covid-19 protocols to deal with the fourth wave of the virus. The mine worked closely with the DRC’s health authorities and the provincial government to source vaccines and to date has partially vaccinated 60% of its workforce, with 43% of the workforce fully vaccinated,” Bristow said.

“It also strengthened its local business partnerships to build a sustainable economy in the region. During Q4 it spent $40.6 million with local contractors and suppliers, bringing the total since the start of Kibali to $2.1 billion. To date, Kibali has invested some $3.7 billion in the DRC in the form of taxes,

permits, infrastructure, salaries and payments to local partners.”

During the fourth quarter Kibali paid a dividend of $170 million to shareholders of Barrick, AngloGold Ashanti and government parastatal, SOKIMO, bringing the total distribution for the year to $200 million. Bristow said Barrick and the Congolese authorities were working together on a program to release cash for the repayment of offshore loans.

During the quarter Kibali launched the Garamba Alliance, a biodiversity partnership with the US Agency for International Development (USAID) designed to preserve this World Heritage park through anti-poaching actions and other conservation initiatives. This partnership is also designed to secure a sustainable economic future for the local community surrounding the park.

Looking ahead, Bristow said underground drilling at the KCD orebody was defining a new high-grade lode above the base of the shaft infrastructure. This was an exciting discovery which could add an entirely new orebody to the existing KCD series of orebodies.

 

The Trend hosts eight major gold deposits within the 12-kilometre Post-Genesis Fault and three more, including Leeville, in the 6-kilometre Leeville Fault acting as feeders of a giant hydrothermal system. Past production exceeds 95 million ounces, with current measured and indicated resources standing at 32 million ounces^15,16,17 and inferred resources at 7.5 million ounces.^15,16

When Barrick and Newmont merged their Nevada assets, there were strong indications of significant potential between North and Greater Leeville, based on drill intercepts at North Leeville that could not be explained by the existing geological model.

“We implemented a strategy focused on understanding the mineralization controls which validated the historic intercepts, upgraded our knowledge of the controls and identified two high-grade priority areas,” says MRM growth manager Adrian Williams.

“Detailed logging led to a step change in our understanding of the mineralization and formed the basis of a new model which was successfully tested last year with a nine-hole drilling program that also delivered one of the best intercepts in the Carlin Trend’s history: 56.7m at 28.39g/t.”¹⁸

This led to a declaration of a maiden high-grade inferred resource of 0.7 million ounces at 11.6 g/t^13,15, representing what is predicted to be the beginning of long-term growth at North Leeville specifically and the Greater Leeville area generally. At the same time, continued exploration at Leeville

over the past three years has led to a net increase in reserves of 0.3 million ounces^13,15 and in measured and indicated resources of 1.7 million ounces^13,15,17 after depletion of ~1.3 million ounces through mining.

As a result, two new drives are currently advancing to the north to support underground conversion drilling while surface drilling continues to expand the North Leeville resource. The two drives are expected to reach the southern margin of North Leeville later this year.

“Most importantly, new geological models have opened significant high-grade potential in multiple directions at both North Leeville and in the Greater Leeville area. The presence of fertile high-angle structural conduits intersecting a pre-mineral intrusive stock is a mirror image of the Deep Post and Deep Star orebodies, two of the richest ever discoveries on the Carlin Trend,” says district exploration geologist Kendle Fraley.

Barrick president and chief executive Mark Bristow says the creation of the Nevada Gold Mines joint venture was driven by the opportunity to unlock value through the combination of the two companies’ assets in the state.

“The Carlin Trend is one of the world’s geological marvels, comparable to the Witwatersrand in its heyday. The strategies and skills we’ve been able to bring to bear on this unique endowment are ensuring that it’s the gift that will keep on giving,” he says.

 

Christine Keener has been appointed chief operating officer of Barrick’s North American region with effect from February this year.

Christine brings a diversified background having worked in finance, strategy, a number of commercial roles and more recently in operations. She was formerly vice president, Europe and North America, for Alcoa and before that worked as a certified public accountant for PricewaterhouseCoopers. She holds an MBA from Carnegie Mellon University and a Bachelor in Science in Accounting from Grove City College.

Announcing the appointment, president and chief executive Mark Bristow said Ms Keener had a 21-year record of improving results in each of her roles at Alcoa.

“She has a deep commitment to business outcomes and is highly focused on delivery. Ms Keener is able to find opportunities for improvement and then to implement them with great determination. She will be a very valuable addition to our executive team,” he said.

 

NEVADA GOLD MINES AND EMPLOYEES CONTRIBUTE OVER $780,000 TO 580 NON-PROFIT ORGANIZATIONS IN PAST YEAR

Nevada Gold Mines’ (NGM) Workplace Giving program, the Heritage Fund, contributed over $780,000 to 580 non-profit organizations in its inaugural year. The program was launched in December 2020 with an initial $25 gift from the company to all employees to kick off their giving. NGM also matches all donations made by employees to qualified non-profits at 120%. The mission of the Heritage Fund is to support local communities.

“The Heritage Fund is just one of the many ways we are working to support Nevada,” says Greg Walker, NGM executive managing director. “It’s a convenient avenue for our 1,900 registered employees to give to non-profits they are passionate about while also addressing the important needs of our communities. The causes often assist critical health and human services, important educational and environmental initiatives, community development, and even wildlife and habitat improvement.”

 

HUMAN RIGHTS REPORT

To coincide with the United Nations’ Human Rights Day in December 2021, Barrick published its report on Human Rights, outlining the Company’s updated policies and standards and their implementation since the merger with Randgold Resources.

In the report, president and chief executive Mark Bristow said that recognizing and respecting human rights was a core value for Barrick, and its Human Rights Policy was one of the first the group updated following the merger. It is codified in Barrick’s standalone Human Rights Policy and informed by the expectations of the UN Guiding Principles on Business and Human Rights (UNGPs), the Voluntary Principles on Security and Human Rights (VPs) and the OECD Guidelines for Multinational Enterprises.

“Our policy, simply put, is to respect the human rights of all individuals impacted by our operations, including employees, contractors and external stakeholders. The policy is guided by our philosophy of building mutually beneficial relationships with our local communities,” Bristow said.

The report also provides an insight into Barrick’s key human rights focuses such as non-discrimination in the workplace, health and safety, working conditions, resettlement, security, water and the rights of indigenous people.