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Mining Profiles: Barrick-Randgold

 

  • Cortez in Nevada, USA (100% ownership)
  • Goldstrike in Nevada, USA (100% ownership)
  • Kibali in DRC (45% ownership)
  • Loulo-Gounkoto in Mali (80% ownership)
  • Pueblo Viejo in Dominical Repoublic (60%)

They also own two more mines with the potential to become Tier One gold assets:

  • Goldrush/Fourmile, USA (100% ownership)
  • Turquoise Ridge, USA (75% ownership)

Their Board of Directors includes nine members, all male. Their Senior Management Team includes six members, three male and three female.

Their mining operations include open pit operations and underground operations, and they are shifting some of their operations to bulk mining at depth. Their processing operations include an oxide mill, CIL circuit, and heap leach (learn more about gold extraction and processing here).

Barrick-Randgold has a sustainability strategy, and they publish an annual "Sustainability Report."  Highlights from the 2017 report include:

  • 4% reduction in greenhouse gas emissions over the prior year
  • 85% reduction in reportable environmental incidents since 2014
  • 40% reduction in total reportable injury frequency rate since 2014.
  • 6 community water monitoring programs
  • 100% of sites with grievance mechanisms in place
  • 3 independent human rights assessments completed in 2017
  • $351 million invested in local businesses in 2017
  • $1.12 billion taxes and royalties to governments in 2017
  • 97% of their employees from the countries in which they operate

Both Barrick and Randgold have had significant legal controversy over contamination, human rights, and land-use in the past. 

This article is not intended to be an analysis of Barrick-Randgold mining operations; but merely to share information so our members can become more informed. If you have knowledge about this company you think it would be beneficial to share with CRJC members, please share in the comment section.

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