Good environmental, social and corporate governance (ESG) management is essential to gold miner Barrick’s vision of becoming the world’s most valued gold and copper company, says Barrick executive chairperson John Thornton in the company’s 2022 Information Circular, published on April 1.
The principles of ESG have long been entrenched in Barrick’s commitment to partnership-based business objectives, a philosophy built on engagement, transparency and caring. This recognises the importance not only of the shareholders who own the company but also of its other stakeholders: employees, host countries, the communities around the mines and the company’s business partners.
“Our rigorous focus on performance and execution against our sustainability strategy enables us to develop and maintain trusted long-term partnerships with all stakeholders,” says Thornton.
“In an industry first, we published an open and honest assessment of our actions in the form of a scorecard in our Sustainability Report in 2019. The third of these scorecards will appear in the 2021 Sustainability Report, to be published in the second quarter of this year. Like its predecessors, the 2021 report will objectively track our progress against key metrics and highlight areas which need improvement, providing stakeholders with a valuable insight into this important part of our business, as well as demonstrating Barrick’s commitment to ESG leadership.”
Also in the Information Circular, Barrick lead independent director Brett Harvey noted that the board was maintaining its focus on board renewal and diversity. Since the merger with investment company Randgold & Exploration in 2018, it has appointed six new directors, including three women. Female directors now form 27% of the board and 33% of the independent directors.
“Barrick’s human capital strategy, including our approach to promoting diversity, continues to be a critical enabler of positive change,” says Harvey.
“By prioritising local employment — 96% of our employees are host country nationals — we naturally grow the ethnic and cultural diversity of our workforce.”
Owing to the ongoing public health concerns related to the global pandemic and to mitigate health risks to all stakeholders, this yearly meeting will again be virtual. The company will monitor the situation closely and provide a physical location if conditions allow. The Information Circular details how to participate, how to vote and how to contact the board and the company.
Barrick’s 2022 Annual Meeting of Shareholders will be held on May 3, 2022, at 10:00 am (Toronto time).
Subsequent to the shareholder meeting, Barrick CEO Mark Bristow will be speaking at the Investing in African Mining Indaba, which will be held at the Cape Town International Convention Centre from May 9 to 12.