Transcript Building Value in Everything We Do

Building Value in Everything We Do
The International Economic Forum of the Americas – June 7, 2011
Kelvin Dushnisky, EVP Corporate & Legal Affairs
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Global Footprint
Canadian-based gold industry leader, with interests in
25 operating mines and a pipeline of world-class projects
located across five continents
North
America
Australia
Pacific
Africa
South
America
Mine
Project
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Philosophy
 Barrick is committed to making a positive
difference in the communities in which we
operate
 Barrick is listed on the Dow Jones Sustainability
World Index and the NASDAQ World’s Top 100
Sustainable Companies
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Investing for Sustainability
How does Barrick work with governments to
extract resources while contributing to
sustainable development?
1. Develop open and positive working relationships with
local communities and host governments
2. Abide by local laws and international codes,
standards and obligations
(EITI, VPs, IFC Performance Standards)
3. Be a responsible investor throughout construction
and operations - effective CSR practices
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Pueblo Viejo DOMINICAN REPUBLIC
 Largest foreign investment in the history of the
Dominican Republic – Approximately US$3.3-$3.5B
 Generating much needed revenues for the
government, 3500 direct jobs (construction) and
1000 direct jobs (operation), environmental and
social benefits
ATLANTIC OCEAN
CUBA
Caribbean Sea
HAITI
JAMAICA
0 miles
100
200
300
400
DOMINICAN
REPUBLIC
Pueblo Viejo
Santo
Domingo
500
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Pueblo Viejo DOMINICAN REPUBLIC
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Working with the Government
 Special Lease Agreement
– Rights over license area granted to the company
(mine, develop, explore)
– Stabilization of taxation and payments to government
– Ratified by the Dominican National Congress
 Municipal Development Plans
– Law passed by the Dominican Congress, each
municipality must create a development plan
– Company facilitated – but the responsibility for
development and implementation of the plan rests
with the municipal government, not the company
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Working with the Government
 Environmental Remediation
– One of the most ambitious environmental clean-up
efforts performed to international standards in recent
mining history
– SLA set out terms of responsibility for each of the
company and the Dominican Government
– Barrick’s experts manage the clean-up effort on the
Government’s behalf
– Initial agreement to split the cost – now Barrick
agrees to 100% funding of defined remediation
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International Obligations
 Extractive Industries Transparency Initiative
 Voluntary Principles on Security & Human Rights
 OECD Guidelines for Multinational Enterprises
 UN Global Compact
 ISO 14001
 ICMM Sustainable Development Framework
 Global Reporting Initiative
 Involvement of Export Credit Agencies and Equator Principles
signatory banks ensures compliance with environmental and
social best practice
 Corporate policies: CSR, Community Relations, Health and
Safety, Human Rights, Water and Energy Conservation
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Community Relations and CSR
Objectives:
 Position the Company as a catalyst for sustainable
social development
 Ensure stakeholder confidence in the project – social
license to operate
Multi-tiered strategy:




Strong community relations/outreach team
Systematic community engagement
Strategic community projects – NGO involvement
Monitoring and feedback
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Strategic Community Projects
 Infrastructure
– Water pipeline improvements
– Road construction &
improvement
– Sewage improvements
– Church renovation project
– Rural electrification program
 Education
– Teacher education program
– Strengthening of primary schools
– Adult digital literacy programs
 Health & Safety
– Community Safety Awareness
– Oral hygiene & disease
prevention
– Teen pregnancy prevention
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Strategic Community Projects
 Productive Development
– Greenhouse projects
– Fish farming
– School orchard, home gardens
 Micro-enterprise
– Family finance education
– Support for community enterprises
– Women’s associations strengthening
– Community associations
strengthening
 Donations & Sponsorships
– Sports uniforms and equipment
– Community events (Teachers’ Day)
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Conclusion
 Interact early and openly
 Be flexible
 Let communities lead
 Don’t presume to know the answers – work
collaboratively to find solutions
Thank You
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