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2017 ECONOMIC CONTRIBUTIONS REPORT
ii 2017 ECONOMIC CONTRIBUTIONS REPORT BARRICK GOLD CORPORATION
SUSTAINABILITY VISION
We partner with host governments and communities to transform their
natural resources into sustainable benefits and mutual prosperity.
We aim to be a welcome and trusted partner of host governments and
communities, the most sought-after employer, and the natural choice for
long-term investors.
1BARRICK GOLD CORPORATION 2017 ECONOMIC CONTRIBUTIONS REPORT
2017 Highlights 2
CSO Letter 3
About This Report 4
Barrick At-A-Glance 5
Our Approach to Social 6 and Economic Development
Our Approach to Tax 8
Local Purchases 14
Local Employment 15
Community Investments 16
Barrick Around the World 18
Argentina 18
Canada 20
Chile 22
Dominican Republic 24
Peru 26
United States 28
Zambia 30
Extractive Sector 32 Transparency Measures Act Report
Basis of Report Preparation 38
CONTENTS
2 2017 ECONOMIC CONTRIBUTIONS REPORT BARRICK GOLD CORPORATION
2017 HIGHLIGHTS
Invested in the countries in which we operate.
Invested in educational initiatives.
Of goods and services Barrick purchased (by dollar value) from local, regional, or national suppliers.
Of our people come from local communities near our mines.
Of our people come from the countries where we operate.
Payments to employees .
Taxes and royalties to governments.
Purchases of goods and services from local communities.
Increase in purchases from local businesses.
$5.1B $6.3M84%
60% 97%$1.2B
$1.1B 37% $350M
3BARRICK GOLD CORPORATION 2017 ECONOMIC CONTRIBUTIONS REPORT
Mining requires disciplined allocation of capital and talent,
operational and technical excellence, and decades-long
collaboration among businesses, governments, non-profits,
and local communities to succeed. Investors invest in gold for
safety. That is why trust and partnership are at the core of our
business. By partnering with host governments, communities,
indigenous peoples, NGOs, regulators, and other distinctive
companies who share our values, we can create sustainable
prosperity without undue risk for investors. Our employees are
emotionally and financially invested in our business too. Access
to better data and systems and collaborative behaviours is
creating a trust-based culture. As a collective, we aim to make
better decisions together.
Through this Economic Contributions Report, we share the
range of economic contributions we make in the countries and
communities where we operate and our progress in generating
significant value for our partners.
The value we help create comes in many forms, through local
job creation, demand for local services, investment in educa-
tion and health, procurement of locally sourced materials, and
taxes and royalties that we pay, which totaled over $1.1 billion
in 2017. Our presence helps create sustainable livelihoods
to over 10,000 employees and 13,000 contractors. In 2017,
wages and benefits to employees alone were approximately
$1.2 billion and we spent almost $2.7 billion on purchases in
the countries where we operate. With 97 percent of our em-
ployees coming from the countries and communities where we
operate, and a commitment to buy locally wherever we can,
we are creating meaningful contributions to local and national
economies.
We are changing lives and advancing together.
This report is one of several ways that Barrick is putting its
commitment to transparency into action. We encourage you to
visit our website for more information on our environmental,
social, and economic performance, and to share your feedback
with us via email at responsiblemining@barrick.com.
Peter Sinclair
Chief Sustainability Officer
CHIEF SUSTAINABILITY OFFICER’S MESSAGE
At Barrick we are challenging preconceived ideas about mining. As a company we seek to partner
with host governments, contribute to a more stable and prosperous society, and create real and
sustainable value for our shareholders.
4 2017 ECONOMIC CONTRIBUTIONS REPORT BARRICK GOLD CORPORATION
This is Barrick’s 2017 Economic Contributions Report.
Through this and future reports, we aim to show our prog-
ress in generating economic value for our stakeholders.
This report describes in detail how Barrick’s activities sup-
port the social and economic development of the coun-
tries and communities where we operate, including our
tax strategy, our efforts to prioritize local employment
and local procurement, and our community investments.
We report on these metrics for the Company as a whole,
and for each country where we operate.
Report Parameters
To ensure consistency and comparability between
ourselves and other mining companies, Barrick uses the
World Gold Council’s Guidance Note on Expenditure
Definitions and reports to the Global Reporting
Initiative’s (GRI) Sustainability Reporting Standards, in
accordance with the Core option. Expenditure data is
provided on an accrual basis. The data in this report cov-
ers the 2017 calendar year, which corresponds to Barrick’s
financial year, and all information in this report is current
as of December 31, 2017, unless otherwise indicated. This
report and accompanying data tables contain informa-
tion on all of Barrick’s wholly-owned operations and joint
ventures where we are the operator, as well as on our
country and corporate offices, projects, and closure sites.
We report on 100 percent of the data from joint-ven-
ture operations where we are the operator. All currency
amounts in this report are expressed in U.S. dollars, unless
otherwise indicated.
ABOUT THIS REPORT
5BARRICK GOLD CORPORATION 2017 ECONOMIC CONTRIBUTIONS REPORT
$2+ B Operating Cash Flow
in 2017
5.32 MOZGold production
in 2017
11 COUNTRIESwith operating mines
and projects in 2017
10,000+People directly
employed in 2017
13,000+Contractors
in 2017
* Projects
KCGM JV (50%)
Lumwana
BuyanhuluBuzwagiNorth Mara
Pueblo Viejo JV (60%)
Veladero JV (50%)
Porgera JV (47.5%)
Jabal Sayid JV (50%)TorontoHemloDonlin Gold JV* (50%)
Lagunas Norte
Barrick Nevada
Turquoise Ridge JV (75%)
Golden Sunlight
Zaldivar JV (50%)
Pascua-Lama*
Norte Abierto JV* (50%)
Head Office Barrick Operated JVs not operated by Barrick Partner Operated JVs Affiliate
BARRICK AT A GLANCE
6 2017 ECONOMIC CONTRIBUTIONS REPORT BARRICK GOLD CORPORATION
Our sustainability vision is to partner with host governments
and communities to transform their natural resources into
sustainable benefits and mutual prosperity.
This means not treating every negotiation as zero-sum, but
recognizing that we will be working with our local partners for
decades. By working collaboratively and transparently with our
host governments and communities, we can add value and
create broader prosperity. This puts us in a much better posi-
tion to maintain trust and goodwill and strengthen our license
to operate, which will allow us to make long-term investment
decisions with confidence.
Barrick has established company-wide systems, standards, and
targets to help us live up to the expectations of our community
and government partners, our employees, and our shareholders.
• Barrick has a Local Procurement and Contracting
Standard, which requires our Community Relations and
Supply Chain teams to develop the capacity of local and
regional suppliers and help them improve their access to
mine contracts and supplier opportunities.
• Barrick requires site Community Relations and Human
Resources teams to develop Local Employment Plans,
which help create more opportunities for local people to
work at our mines.
• Our Local Content Framework helps sites use more
local labor and buy more local goods and services. The
framework is a guide, outlining the steps to develop local
employment and local procurement programs and refer-
encing best international practice. It helps sites be better
partners in community and socio-economic develop-
ment, which ultimately helps build a more secure license
to operate. At Barrick, local is defined in consultation
with external stakeholders. In general it includes nearby
communities most impacted by mine activities or ancillary
properties (such as power lines).
• Our approach to tax reflects a commitment to comply
with all tax laws in the countries in which we operate and
to work transparently with revenue authorities to resolve
any areas of uncertainty. We recognise the significant
taxes and royalties derived from our mining operations
are important sources of government revenue, used for
infrastructure projects, health care, education, and other
important public services.
By doing all of these things well, by being agile, by listening
to feedback, and by adapting to circumstances, we can create
wealth for our government and community partners, our em-
ployees, and our shareholders over the long term.
OUR APPROACH TO SOCIAL AND ECONOMIC DEVELOPMENT Communities and host governments rightly expect to share
in the benefits of mining.
7BARRICK GOLD CORPORATION 2017 ECONOMIC CONTRIBUTIONS REPORT
I NVESTMENT EXPLORATION CONSTRUCTION EARLY OPERATION OPERATIONS CLOSURE
Jobs
Few people employed as most work is automated or highly technical.
Highest number of people employed as there is increased activity around the mine site.
Fewer people required than during construc-tion. Employment stabilizes once produc-tion begins.
Stable number of employees to support successful, efficient, and safe production.
Employment slowly declines as production winds down and the mine closes.
Goods
and Services
Goods and services spend is lowest during exploration due to minimal activity.
Goods and services spend is highest to support the mine’s construction.
Goods and services spend fluctuates depending on the mine’s needs as production begins.
Goods and services spend stabilizes as the supply chain has been established and normal production continues.
Goods and services spend decreases as mine activity slows and eventually closes.
Payments to
Govern-ments
Few taxes paid due to lack of production. Some payments related to exploration licenses and value added taxes.
Few taxes paid due to lack of production. Indirect taxes generated through purchases of goods and services and through taxes on employee wages.
Payments related to royalties on production. Generally lower corporate income tax paid than later in operations as mine is still paying back capital invested in construction.
Significant taxes paid through production for example, royalties and corporate income taxes.
Few taxes paid as mine is no longer producing.
In Action
Our Donlin Gold project supports programs that benefit education, community wellness, cultural preservation and environmental protection.
At Pueblo Viejo, 11,000 indirect jobs are estimated to have been created as a result of the mine’s construction phase. In 2014, 2.2 percent of the National GDP growth was attribut-able to the construc-tion of the Pueblo Viejo mine.
The Pueblo Viejo mine has steadily increase the proportion of employees who are Dominican nationals – from 90 percent in 2012 to 95 percent in 2017.
In Nevada, Barrick has partnered with Cisco and Great Basin College to bring free digital education to employees and Northern Nevadans. This is a critical step in our digital transforma-tion to ensure we are building a sustainable, skilled workforce to support our business in the future.
As part of Pierina’s closure program, 84 percent of leaders from 19 local compa-nies have been trained in production, finance, and sales. Moreover, all 19 local compa-nies that the mine works with have been trained in marketing, commercial communi-cations, tenders, and commercial tools.
Exploration
Construction
EarlyOperation
Operations
Closure
Value Chain
8 2017 ECONOMIC CONTRIBUTIONS REPORT BARRICK GOLD CORPORATION
Paying the appropriate amount of tax under the law is the
starting point to putting our commitment to responsible min-
ing into practice. The funds we pay to governments are a sig-
nificant source of revenue, helping to build infrastructure and
fund social programs, driving both economic growth and social
development. Our approach to tax is guided by and aligned
with our Sustainability Vision, Code of Business Conduct and
Ethics, and Company Values.
We believe we have to work in partnership with the tax
authorities in each and every jurisdiction in which we operate.
Barrick aims to proactively build relationships with the local tax
authorities on the basis of transparency and open communica-
tions.
Barrick has a Company-wide policy describing our approach to
taxes. The policy sets out global standards and provides guid-
ance on tax risk management. Tax personnel work with all key
functional and business areas within Barrick to meet our com-
pliance obligations in all of the countries in which we operate.
Sufficient resources are allocated to tax returns, tax audits,
financial reporting, tax risks, tax advocacy, and tax planning.
The following principles underpin our approach to tax:
Compliance and AuditsBarrick complies with all relevant tax legislation in a responsible
manner in all of the countries in which we operate. Tax files we
submit are supported by applicable tax legislation taking into
account existing administrative positions. Tax returns are filed
on time in the prescribed form unless otherwise agreed with
the tax authority.
Where legislation is unclear and subject to different interpreta-
tions, advice is sought from internal and external experts with
careful consideration given to industry practice. Government
incentives and concessions are pursued with technical analysis
and an understanding of underlying policy intent.
In such situations where the application of judgment is re-
quired, it is made by appropriately qualified tax professionals
within a collaborative environment of consultation with the
Company’s tax group and the business as a whole. Barrick
employs appropriately trained tax professionals in the countries
where we have material economic activities.
Tax audits are conducted in a transparent manner. We provide
documentation and analysis to the tax authorities in support of
positions taken. When possible, meetings are conducted with
tax auditors prior to the formal commencement of an audit to
effectively plan the audit process and to present key positions
taken by Barrick. If legislatively or administratively permitted,
Barrick enters into tax audit agreements / protocols with local
tax authorities that, among other things, outline the conduct
of the audit, audit processes, materiality levels and timing.
We aim to be as current as possible with regards to tax audits,
subject to the resource constraints and other limitations of
local tax authorities. Tax risk is lower where issues are identi-
fied early and resolved. For example, as a result of the efficient
coordination and successful cooperation between the Internal
Revenue Service (IRS) and Barrick in past U.S. tax audits, the IRS
has placed Barrick into a new real-time audit program (known
as the Compliance Assurance Process) which allows discussion
and resolution of issues prior to returns being filed.
OUR APPROACH TO TAX
9BARRICK GOLD CORPORATION 2017 ECONOMIC CONTRIBUTIONS REPORT
Relevant Mining Tax Regimes
COUNTRY CORPORATE TAX RATE GOVERNMENT ROYALTY OTHER TAXES
Argentina 35%2 3% modified net smelter royalty
Canada 25% (15% federal + 10% Ontario manufacturing rate (otherwise 11.5%))
– Ontario mining tax – 8.5% (after application of minimum processing allowance)
Chile 25.5%; 27% for 2019 and subse-quent years (distribution regime).
Combined corporate and shareholder level tax remains at 35%
Mining Royalty ranges from 5% to 14% based on operating margin (operating results / gross sales); rate applied to operating income
–
Dominican Republic
Special Lease Agreement – 25% (27% per general regime)
3.2% net smelter royalty (for gold and silver)
Net profit interest – of 28.75% generally applied on cash flow which includes a deduction for income tax but interest expense is not deductible
Peru 29.5% for 2017 and subsequent years
As Lagunas Norte is subject to 2.51% net smelter royalty, general mining royalty regime is not appli-cable
Specific Tax on Mining, marginal rates ranging from 2% to 8.4% applicable on operating margin
United States Higher of 35% regular tax and 20% alternative minimum tax (federal only)3
– Nevada net proceeds tax ranges from 2% to 5%. Barrick’s Nevada oper-ations are subject to the maximum 5% rate
Zambia 30% income tax rate Mining royalty rates are 4% for cop-per below $2.04/lb; 5% at copper prices between $2.04/lb and $2.72/lb; and 6% at a copper price of $2.72/lb and above, of gross metal value which is determined with refer-ence to the monthly average London Metal Exchange cash price
Export tax of 10% on copper concentrates unless processed by Zambian smelters
2 For 2018 and 2019, the blended income tax and dividend withholding tax rate will be 34.9% and for 2020 and onwards, the blended income tax and dividend
withholding tax rate will be 34.75%.
3 For 2018 and onwards, the rate is 21%, and there is no alternative minimum tax after 2017.
10 2017 ECONOMIC CONTRIBUTIONS REPORT BARRICK GOLD CORPORATION
Risk Management and MitigationTax risks are identified, evaluated and monitored with the
objective of the mitigation of such risks within acceptable tol-
erance levels. Barrick’s tax group continually seeks to improve
processes for assessing, recording, and reporting of tax risks to
ensure transparency and to facilitate risk management.
Tax planning is based on reasonable interpretations of the tax
legislation and is aligned with the substance of the econom-
ic activity. Related party transactions are treated similarly to
third-party transactions and are structured consistent with
functions performed, risks assumed, and assets utilized.
Developments on the international tax front within various
global organizations (such as the Organization for Economic
Cooperation and Development or International Monetary
Fund) are carefully monitored and assessed for their impacts on
Barrick in its jurisdictions of operations.
Entities in low tax jurisdictions are in place for commercial rea-
sons (such as a neutral location for joint ventures) and serve as
holding companies, or they have been inherited from historic
acquisitions. Barrick actively works to simplify its corporate
structure where it makes sense to do so.
Relationships with AuthoritiesWe seek to build and sustain healthy relationships with
governments and tax authorities in an honest, respectful, and
constructive way.
In situations where tax legislation has adverse effects on
Barrick’s business activity, there is proposed legislative reform,
or there are opportunities for improvements in the law, the
Company will engage directly with governments or via industry
groups to influence change in a way that does not materially
impact investments in its operations.
TAXES AND GOVERNMENT ROYALTIES4 – 2017
Argentina $ 33,490,000
Canada $ 8,860,000
Chile $ -4,570,0005
Dominican Republic $ 180,730,000
Peru $ 121,750,000
United States $ 688,700,000
Zambia $ 89,540,000
Barrick Total $ 1,118,500,000
Tax Transparency and ReportingTransparency is a powerful tool that helps stakeholders, includ-
ing governments and tax authorities, understand the nature
and extent of tax contributions in the context of the capital
intensive nature of the mining industry. Meaningful public dis-
closures work to prevent allegations of corruption and demon-
strate ethical conduct – they help maintain Barrick’s license to
operate and demonstrate corporate social responsibility.
Barrick was the first Canadian mining company to be a
signatory to the Extractive Industries Transparency Initiative.
We report detailed country-by-country tax and royalty pay-
ments along with environmental and social data in our annual
Sustainability Report and in this, our annual economic contri-
butions report. We continuously monitor global and host coun-
try developments and work to continuously improve disclosure.
4 From Barrick-operated sites.
5 The tax rate is negative due to refunds on taxes paid in Chile.
11BARRICK GOLD CORPORATION 2017 ECONOMIC CONTRIBUTIONS REPORT
The taxes and royalties we pay can be a significant
source of revenue, helping governments build
important infrastructure, fund social programs,
and ultimately help drive their economic growth
and social development.
44%BARRICK’S EFFECTIVE CORPORATE INCOME
TAX RATE IN 2017
Direct Impacts
Through the people we employ, the goods and services we
procure, and the taxes we pay, Barrick has made a lasting
impact on the economy of Nevada.
In 2017, the Company directly employed 3,500 people in
Nevada, and an additional 3,000 contractors worked with
Barrick. Of our people, more than 96 percent are Nevadans and
over 99 percent are American. Beyond Barrick, the mining indus-
try supports more than 29,000 jobs in Nevada. Mining is one of
the highest paying industries in the state with an average wage
of $93,000 compared to the state average of $47,000.6
In 2015, Barrick made it a priority to expand its presence
to southern Nevada with the opening of our Global Shared
Services Office in Henderson. This office helped fulfill objec-
tives set out in the state’s economic development plan to bring
high-skilled jobs to urban Nevada. Barrick took the extra step
of locating the office in a suburban office park in Henderson,
making us part of the local business community. Our Henderson
office employs almost 100 people, including dozens of high-
skilled digital and technology people who are working to
advance Barrick’s digital transformation. A major initiative for
the company is bringing in top technology talent to work with
mine operators to develop digital tools that make mining more
efficient. The Henderson office is supported by Switch, Nevada’s
leading technology company and one of the largest data center
operators in the world.
Barrick’s impact on Nevada’s economy also extends through
our supply chain. In 2017, the Company purchased more than
$272 million in goods and services in Nevada and supported
approximately 500 local Nevada business. From purchasing
CASE STUDYA Presence in All of Nevada
12 2017 ECONOMIC CONTRIBUTIONS REPORT BARRICK GOLD CORPORATION
The mining industry is well developed in Nevada, dating back
more than 150 years. It has been an important source of jobs in
rural areas and has helped the state to diversify its economy from
the gaming and tourism industries. The mining industry contin-
ues to grow, and today more than 20 minerals are being actively
mined in the state.5
Barrick’s roots run deep in Nevada. The Company has been a ma-
jor source of economic opportunity and community support since
its purchase of the Goldstrike mine in Eureka County in 1986.
Since then, the company has grown its presence in the state.
Today, its Nevada operations consist of Barrick Nevada (com-
prised of the Cortez and Goldstrike operations), the Turquoise
Ridge Joint Venture, and its Goldrush project, which is expected
to enter production in 2022. We are proud that our Nevada op-
erations encompass the entire state, both urban and rural, from
our mines in Eureka, Lander, and Humboldt counties to a power
plant near Reno to our offices in suburban Las Vegas.
6500 JOBS FOR NEVADANS IN 2017
$1B INVESTED IN NEVADA IN 2017
5 https://www.nevadamining.org/minerals-in-nevada/
6 https://www.nnbusinessview.com/news/nevada-
mining-prez-industry-one-of-highest-paying-in-state/#
gypsum to fleet vehicles, our supply chain activities help stim-
ulate the state’s economy and contribute to local jobs beyond
our direct footprint. These indirect impacts extend outside
Nevada’s borders, as evidenced by the Company’s $1.35 billion
in expenditures on American goods and services.
To ensure our presence maximizes sustainable benefits, we
extend our commitment to corporate social responsibility (CSR)
to our supply chain partners. We have developed mandatory
CSR requirements as part of the bidding process for opera-
tions-related projects. These requirements include mandatory
CSR onboarding and refresher training for contractors and local
hiring and procurement requirements for contractors that work
with Barrick Nevada on large-scale projects.
Barrick’s contribution to Nevada also includes the significant
taxes we pay. The Company contributed more than $149
million in taxes in Nevada in 2017, and is one of the top 10
highest assessed taxpayers in the state. The mining industry
pays every tax that other businesses pay in Nevada, as well as
a higher business tax rate on payroll (2.0 percent). The industry
is also subject to a mining-specific tax, the Net Proceeds of
Minerals Tax. In total, mining and logging account for ap-
proximately 1.1 percent of employment in Nevada, but 4.2
percent of taxes generated for the State General Fund. Mining
also accounts for about 10 percent of all sales tax revenue in
the state, primarily due to the purchasing of equipment. In
addition to the taxes that Barrick pays in Nevada, the Company
also contributed significantly through federal taxes. In 2017,
this amounted to more than $500 million in corporate income
taxes.
Supporting Communities
Barrick also supports the communities where we operate
through social investments that lead to sustainable outcomes.
Ultimately, we know that effectively engaging with local com-
munities is vital to the success and sustainability of our mines.
In Nevada, we work closely with local communities to support
education programs, contributing over $4.7 million in 2017
to support these types of programs in Nevada. In addition, we
spent more than $4.9 million on economic development and
other programs in our host communities in Nevada in 2017.
An example of our program support is through our partnership
with Cisco and Great Basin College, located in Elko. Through
this partnership, we are bringing free digital education,
through Cisco’s Networking Academy, to employees, depen-
dents, veterans and Western Shoshone tribal members. As
more and more jobs require digital skills, the program prepares
participants to be competitive in the job market across all
industries, including mining. More broadly, we partner with
Communities in Schools to provide wrap-around services for
challenged schools in Las Vegas and Elko County, and at the
Public Education Foundation, we sponsor an innovative pro-
gram to train school principals in agile leadership in partnership
with Harvard and Georgetown universities.
Barrick also supports local Western Shoshone communities by
providing scholarships for the pursuit of post-secondary educa-
tion at accredited institutions through the Western Shoshone
Scholarship Foundation. To date, the company has contributed
more than $8.4 million and the Foundation has awarded more
than 1,410 scholarships. We also partner with eight Western
Shoshone communities to provide mentoring, counseling and
after-school programs for youth, removing obstacles to learning
and improving high school graduation and college entrance rates.
Looking Forward
Over the past 30-plus years, Barrick has become part of Nevada.
Looking forward, we expect our expansions at Barrick Nevada
and Turquoise Ridge and our discoveries at the Goldrush and
Fourmile deposits will support our presence in Nevada for years
to come. Being an active neighbor across the state, we believe
we are one of the state’s few “All-Nevada” companies and that
we have helped localize a multi-national mining company. In
doing so, we are honored to have been recognized with a series
of awards, including the prestigious Education Hero Award
and Corporation of the Year from Nevada’s Latin Chamber of
Commerce. As the Company continues to develop new projects
in the state, we look forward to continuing to invest in Nevada
and Nevadans for years to come.
BARRICK GOLD CORPORATION 2017 ECONOMIC CONTRIBUTIONS REPORT 13
14 2017 ECONOMIC CONTRIBUTIONS REPORT BARRICK GOLD CORPORATION
We believe that responsible economic development can and
should improve the lives of people in the regions where we
operate. When done responsibly, economic development is a
contributor to a broad spectrum of positive impacts. Through
local procurement, the presence of our operations can directly
help host communities and individuals enjoy the rights to
work, to food and property, and to an adequate standard of
living. Barrick’s Local Procurement and Contracting Standard
requires Community Relations and Supply Chain teams to de-
velop the capacity of local and regional suppliers and increase
their access to mine contracts and supplier opportunities.
To support these efforts, Barrick has put in place a Local
Content Framework. This framework outlines the steps that
our sites can take to develop local employment and local
procurement programs, referencing best international practic-
es and embedding lessons learned from other Barrick sites. It
helps our sites be partners in the community and socio-eco-
nomic development, which ultimately contributes to a more
secure license to operate. The development of the framework
was a collaboration with all groups impacted by local content
policies, including Supply Chain leads, Community Relations,
Human Resource leads, mine General Managers, country
Executive Directors, construction managers, and Project
Directors.
Along with buying locally whenever possible, Barrick often
works with regional government economic development com-
mittees, where they exist, to help our suppliers diversify so that
the eventual closure of a mine will not impose undue hardships
on local businesses.
LOCAL PURCHASES
Barrick made approximately $351 million in local purchases
near our mine sites in 2017 —
approximately 11 percent of our total
procurement spend.
$351,300,000
$530,150,000
$282,130,000
$2,135,280,000
Local Purchases
International Purchases
National Purchases
Regional Purchases
$3,298,860,000
Purchases of Goods and Services in 2017
15BARRICK GOLD CORPORATION 2017 ECONOMIC CONTRIBUTIONS REPORT
A diverse workforce encourages creativity and innovation. We
draw our workforce from many countries around the world,
and our global workforce is extremely diverse in terms of na-
tional and ethnic backgrounds. However, we are also commit-
ted to the localization of our workforce and many of our sites
have explicit targets for local employment. To achieve these
aims, Barrick requires sites to develop plans to guide local em-
ployment efforts over the life of the mine. In 2017 60 percent
of our workforce was from the local areas near our operations.
In addition, 97 percent of our employees are nationals of the
countries where we operate.
Our Human Resources teams develop and lead these local em-
ployment plans, supported by the Community Relations group.
In general, these plans integrate recruitment and retention of
local employees into the broader human resources approach.
This includes an assessment of the skills and capabilities avail-
able in the local community, the development of recruitment
and retention programs targeted specifically at local commu-
nities, guidance on helping address skills shortages, and the
creation of a culturally appropriate work environment.
In addition to our Local Procurement and Contracting
Standard, we have also developed a Local Content Framework
to further support the efforts of our Supply Chain and Human
Resources teams. The Framework details the steps that sites
can take to develop effective local employment and local pro-
curement programs, which reflects international best practice.
LOCAL EMPLOYMENT
Foreign Nationals
3%National
27%
Local
60%
Regional
9%
Local Employment in 2017
In 2016, Barrick created a program to make all Barrick employees—
from the millwright to the mine clerk—a Barrick shareholder. With
an initial allocation of 25 common shares per person the program
has grown to a total of 165 shares distributed per employee. These
shares must be held as long as the employee is working for Barrick.
We expect this program to continue to grow over time, in line with the
Company’s performance. Our people are not just employees, they are
owners, with all that this implies.
Spotlight on Ownership
16 2017 ECONOMIC CONTRIBUTIONS REPORT BARRICK GOLD CORPORATION
Community development programs undertaken in collabora-
tion with—and reflecting the interests of—host communities,
governments, civil society, suppliers and others can help mitigate
social risk, improve our ability to sustain a license to operate,
and generate long-term, sustainable value.
Barrick’s community development programs are designed to
fulfill social obligations, mitigate social impacts and social risks,
and support community priorities. Our community development
activities are also planned with closure in mind.
We take a partnership approach to our community investments,
which relies on knowing what matters to our partners—in-
cluding communities, governments, NGOs and others—and
reflecting those interests in our partnerships. This means clearly
defining roles, responsibilities and resources, and spelling these
out in Memoranda of Understandings.
COMMUNITY INVESTMENTS IN 2017
Barrick Total $ 23,410,000
Education $ 6,330,000
Environment $ 2,090,000
Health $ 1,420,000
Infrastructure $ 2,820,000
Arts, Culture and Sports $ 2,160,000
Community Engagement $ 3,180,000
Economic Development $ 3,080,000
Other Activities $ 2,330,000
COMMUNITY INVESTMENTS
Barrick invested more than $6.3 million in educational programs in 2017,
including providing more than 470 scholarships.
As part of our commitment to education, Barrick is deepening our part-
nership with Cisco’s NetAcad to bring digital training and skills devel-
opment to our people, their families, and communities. For example,
in 2017, Barrick, Cisco, and Great Basin College formally launched our
partnership to bring Cisco’s NetAcad technology skills development cours-
es, free of charge, to groups in the community. Two for-credit, teacher-led
foundational classes began in September 2017 at the college.
Spotlight on Education
17BARRICK GOLD CORPORATION 2017 ECONOMIC CONTRIBUTIONS REPORT
At our Hemlo mine in Canada, the site has developed a partnership with
Pioneer Construction and BMC, a construction company jointly owned by
the neighboring Biigtigong Nishnaabeg and Pic Mobert First Nations, for the
construction of the tailings management facility perimeter dams. The vision
of the partnership is for BMC to develop into a sustainable business that will
be able to take advantage of future opportunities within the mining and
construction industry. Barrick has supported the partnership through business
development funding, collaboration in developing the scope of work (which
included aggregate pit development and haulage) and worker training.
Partnership in Action at Hemlo
2017 ECONOMIC CONTRIBUTIONS REPORT BARRICK GOLD CORPORATION18
2017 At-A-GlanceBarrick Employees 75
Projects Pascua-Lama
Gold Production 432,000 oz
BARRICK IN ARGENTINA
Spotlight on Veladero
Local Purchases
$2,730,000
Community Investments
$2,820,000
Payments to Employees
$120,950,000
Taxes and Royalties
$120,530,000
Regional Purchases
$260,490,000
National Purchases
$295,990,000
Purchase of Goods and Services
$559,210,000
0
100000
200000
300000
400000
500000
600000
International Purchases
$75,210,000
$803.5MTOTAL ECONOMIC
CONTRIBUTIONS IN VELADERO IN 2017
Total Employees
Foreign Nationals
26
Argentines
192
From Jachal and Iglesia
321
From San Juan Province
965
From Jachal and Iglesia
0
From San Juan Province
2
Argentines
3
Foreign Nationals
7
2017 data for Barrick in Argentina does not include contributions from Veladero. Veladero is a 50-50 joint venture operation with Shandong Gold Group, overseen by a joint Board of Directors, consisting of three nominees nominated by each JV partner. Data from Veladero has been shared on the sites behalf in the Spotlight below.
19BARRICK GOLD CORPORATION 2017 ECONOMIC CONTRIBUTIONS REPORT
ECONOMIC CONTRIBUTIONS TO ARGENTINA 2015 2016 2017
Taxes and Government Royalties7 $ 52,930,000 $ 108,590,000 $ 33,490,000
Import Taxes & Duties 0 0 0
Income Taxes 5,320,000 64,100,000 0
Other Taxes 20,510,000 20,450,000 19,700,000
Royalties Paid to Governments 27,100,000 22,150,000 0
Sales & Value Added Tax – 1,890,000 13,790,000
Payments to Employees $ 109,830,000 $ 93,390,000 $ 12,550,000
Employee Benefits 760,000 5,900,000 2,820,000
Employment Taxes 20,430,000 9,620,000 1,390,000
Payroll Taxes 10,240,000 15,360,000 2,230,000
Wages or Salaries 78,400,000 62,510,000 6,110,000
Community Investments $ 1,920,000 $ 1,420,000 $ 520,000
Arts, Culture & Sports 50,000 140,000 10,000
Community Engagement 60,000 50,000 20,000
Economic Development 1,260,000 450,000 400,000
Education 80,000 370,000 30,000
Environment 10,000 – 0
Health 40,000 20,000 0
Other Activities 10,000 180,000 60,000
Infrastructure 410,000 210,000 0
Other Payments $ 1,070,000 $ 1,030,000 $ 8,250,000
Purchases of goods and services $ 490,300,000 $ 356,640,000 $ 42,160,000
Jachal and Iglesia Purchases243,420,000
6,080,000 680,000
San Juan Province Purchases 164,700,000 12,240,000
Argentine Purchases 246,880,000 185,850,000 29,240,000
Total In-Country Expenditures $ 656,050,000 $ 561,060,000 $ 96,970,000
International Purchases 63,810,000 47,630,000 3,490,000
Total Economic Contribution $ 719,860,000 $ 608,690,000 $ 100,460,000
EMPLOYMENT IN ARGENTINA – 2017 LAMA
Jachal and Iglesia 4 5%
San Juan Province 39 52%
Nationals 24 32%
Foreign nationals 8 11%
Total Employees 75
7 2017 data does not include contributions from Veladero. Veladero is a 50–50 joint venture operation with Shandong Gold Group, overseen by a joint Board of
Directors, consisting of three nominees nominated by each JV partner.
2017 ECONOMIC CONTRIBUTIONS REPORT BARRICK GOLD CORPORATION20
2017 At-A-GlanceEmployees 810
Contractors 289
Operations Hemlo
Offices AuTec (Vancouver) Toronto Head Office
Gold Production 196,000 oz
$3B Amount Barrick has contributed to the Canadian economy since 2013.
The mining industry is the largest private sector employer of Indigenous peoples in Canada on a proportional basis, and a major customer of Indigenous-owned businesses.8
BARRICK IN CANADA
In the Community
Barrick’s Hemlo mine in northern Ontario
is within close proximity to the Pic Mobert
and Biigtigong Nishnaabeg (formerly Pic
River) First Nations. We have agreements
in place with these communities, which
provide a foundation of positive working
relationships, specifically with regard to in-
formation sharing, monitoring environmen-
tal impacts, community/cultural support,
youth support, capacity building, training
and employment. An Implementation
Committee has been formed with both
First Nations consisting of representatives
from the First Nation and the mine. The
groups meet every six weeks, which helps
facilitate dialogue, transparency, and con-
structive working relationships. 8 http://www.mining.ca/resources/mining-facts
21BARRICK GOLD CORPORATION 2017 ECONOMIC CONTRIBUTIONS REPORT
ECONOMIC CONTRIBUTIONS TO CANADA 2015 2016 2017
Taxes and Royalties $ 8,550,000 $ 10,680,000 $ 8,860,000
Import Taxes & Duties 6,220,000 6,500,000 6,670,000
Income Taxes 2,330,000 4,180,000 2,190,000
Royalties Paid To Governments – – –
Sales & Value Added Tax – – –
Payments to Employees $ 223,960,000 $ 387,070,000 $ 208,090,000
Employee Benefits 20,680,000 33,780,000 8,760,000
Employment Taxes 3,180,000 5,810,000 4,420,000
Payroll Taxes 55,990,000 52,320,000 59,480,000
Wages or Salaries 144,110,000 295,160,000 135,430,000
Community Investments $ 3,220,000 $ 1,620,000 $ 2,320,000
Arts, Culture & sports 540,000 70,000 150,000
Community Engagement 250,000 120,000 690,000
Economic Development 600,000 660,000 660,000
Education 90,000 190,000 310,000
Environment 90,000 10,000 10,000
Health 890,000 90,000 300,000
Other Activities 760,000 480,000 200,000
Other Payments $ 11,490,000 $ 19,330,000 $ 9,780,000
Purchases of Goods and Services $ 319,180,000 $ 325,700,000 $ 279,410,000
Local Purchases9 285,970,000
38,850,000 31,280,000
Ontario Purchases 255,850,000 207,500,000
Canadian Purchases 33,210,000 31,000,000 40,630,000
Total in-Country Expenditures $ 566,400,000 $ 744,400,000 $ 508,460,000
International Purchases 103,440,000 61,930,000 89,700,000
Total Economic Contribution $ 669,840,000 $ 806,330,000 $ 598,160,000
EMPLOYMENT IN CANADA – 2017 CANADA HEMLO TORONTO AUTEC
Local Communities9 489 60% 489 94% – – – –
Canada 233 29% 29 6% 157 67% 47 84%
Foreign Nationals 88 11% 2 0% 77 33% 9 16%
Total Employees 810 520 234 56
SENIOR SITE MANAGEMENT – 2017 HEMLO
Living in Local Communities9 8 80%
Living in Ontario 2 20%
Total Senior Management Employees 10
9 For Hemlo, White River, Manitouwadge, Marathon, Pic Mobert First Nation and Biigtigong Nishnaabeg.
22 2017 ECONOMIC CONTRIBUTIONS REPORT BARRICK GOLD CORPORATION
2017 At-A-GlanceEmployees 221
Contractors 830
Operations Zaldivar (50%)10
Projects Pascua-Lama Alturas
Norte Alberto
Copper Production 114,000,000 lbs
700 Barrick’s community relations team held more than 700 face-to-face meetings with people in communities near the Pascua-Lama project in 2017.
10% Overall contribution of the mining sector to Chile’s GDP in 2017.
BARRICK IN CHILE
Reducing our Carbon Footprint
The Zaldívar copper mine in Chile will
be the country’s first mine to operate
with 100 percent renewable electrici-
ty. The mine, a joint venture between
Antofagasta and Barrick, recently signed
a contract with Colbun S.A. that calls
for Colbun to supply Zaldívar electricity
derived from hydro, solar, or wind sources
for a ten-year period beginning in July
2020. As a result of the agreement,
Zaldívar will be able to replace greenhouse
gas emissions equivalent to 350,000
tonnes per year, which equates to about
87,000 vehicles per year.
10 The Zaldívar copper mine is a 50/50 joint venture with
Antofagasta Plc, the operator of the mine.
23BARRICK GOLD CORPORATION 2017 ECONOMIC CONTRIBUTIONS REPORT
ECONOMIC CONTRIBUTIONS TO CHILE 2015 2016 2017
Taxes and Royalties $ 21,900,000 $ 5,380,000 $ -4,570,000
Import Taxes & Duties 0 0 0
Income Taxes 19,680,000 0 -9,280,00011
Other Taxes 880,000 5,380,000 4,710,000
Royalties Paid to Governments 0 0 0
Sales & Value Added Tax 1,340,000 0 0
Payments to Employees $ 49,080,000 $ 40,060,000 $ 37,800,000
Employee Benefits 10,370,000 3,650,000 2,240,000
Employment Taxes 0 150,000 180,000
Payroll Taxes 5,880,000 5,120,000 5,840,000
Wages or Salaries 32,830,000 31,140,000 29,540,000
Other Payments $ 170,000 $ 0 $ 0
Community Investments $ 3,500,000 $ 130,000 $ 550,000
Arts, Culture & Sports 0 0 0
Community Engagement 20,000 70,000 420,000
Economic Development 1,080,000 20,000 30,000
Education 150,000 30,000 10,000
Environment 790,000 0 70,000
Health 270,000 0 10,000
In-Kind Donations 0 0 0
Infrastructure 0 0 10,000
Other Activities 1,190,000 10,000 0
Purchases of goods and services $ 119,970,000 $ 77,430,000 $ 153,490,000
Local Purchases12 23,610,000 2,280,000 2,220,000
National Purchases 96,360,000 48,010,000 141,210,000
Regional Purchases 0 27,140,000 10,060,000
Total in-Country Expenditures $ 194,620,000 $ 123,000,000 $ 187,270,000
International Purchases 28,600,000 1,230,000 3,330,000
Total Economic Contribution $ 223,220,000 $ 124,230,000 $ 190,600,000
EMPLOYMENT IN CHILE – 2017 CHILE PASCUA SANTIAGO ALTURAS CERRO CASALE
From Local Communities12 16 7% 15 13% 1 3% 67% 2
From Host Region13 17 8% 8 7% 9 30% – –
Chileans 184 83% 90 79% 74 96% 20 67% 33% 1
Foreign Nationals 4 2% 1 1% 3 4% – –
Total Employees 221 114 77 30 3
11 The tax rate is negative due to refunds of taxes paid received in 2017.
12 For Pascua, the communities of Alto del Carmen, Vallenar, La Higuera (La Higuera / El Trapiche / Punta Colorada) and the rest of Huasco Province. For Cerro Casale,
the communities of Tierra Amarilla, Copiapo and Caldera. For Alturas, the communities of Vallecillo Rio Seco, Huanta, Chapilca, Varillar, Rivadavia, Vicuña, and
Paihauno.
13 For Pascua and Cerro Casale, the region of Atacama. For Alturas, the region of Coquimbo.
2017 ECONOMIC CONTRIBUTIONS REPORT BARRICK GOLD CORPORATION24
BARRICK IN THE DOMINICAN REPUBLIC
In the CommunityPueblo Viejo
With the support of Barrick, female entre-
preneurs near the Pueblo Viejo mine have
turned a business idea into a successful
manufacturing company. Their company,
Candiver, is the main supplier of cleaning
products for local government agencies,
hospitals, and other large businesses based
in the province, including the Pueblo Viejo
mine. Candiver is owned by CEFORMOMALI,
a non-profit focused on eliminating poverty
in the region, especially among women
living in rural communities. Barrick covered
costs associated with Candiver for the first
three years of its operations.
2017 At-A-GlanceEmployees 2,198
Contractors 2,595
Operations Pueblo Viejo (60%)
Gold Production 650,000 oz
19% Barrick increased its purchases from local suppliers by 19 percent in 2017.
#1 Pueblo Viejo is one of the Dominican Repub-lic’s largest exporters and the number one tax contributor, paying close to half of the national corporate tax.
25BARRICK GOLD CORPORATION 2017 ECONOMIC CONTRIBUTIONS REPORT
ECONOMIC CONTRIBUTIONS TO THE DOMINICAN REPUBLIC 2015 2016 2017
Taxes and Government Royalties $ 213,050,000 $ 394,390,000 $ 180,730,000
Income Taxes 175,260,000 342,410,000 134,940,000
Other Taxes – – –
Royalties Paid to Governments 37,790,000 48,580,000 $45,790,000
Sales & Value Added Tax – 3,400,000 –
Payments to Employees $ 117,390,000 $ 96,630,000 $ 98,290,000
Employee Benefits 31,300,000 26,410,000 25,640,000
Employment Taxes – 5,930,000 6,380,000
Payroll Taxes 8,920,000 17,610,000 18,340,000
Wages or Salaries 77,170,000 46,680,000 47,930,000
Community Investments $ 1,540,000 $ 1,230,000 $ 2,690,000
Arts, Culture & Sports 10,000 10,000 110,000
Community Engagement 50,000 80,000 110,000
Economic Development 1,020,000 150,000 410,000
Education 170,000 190,000 120,000
Environment 180,000 – 40,000
Health 90,000 80,000 30,000
Infrastructure – 710,000 810,000
Other Activities 20,000 10,000 1,060,000
Other Payments $ 10,000 $ – $ 1,420,000
Purchases of goods and services $ 257,640,000 $ 250,530,000 $ 303,100,000
Local Purchases14 19,400,000 19,690,000 23,360,000
Dominican Purchases 238,240,000 230,840,000 279,740,000
Total In-Country Expenditures $ 589,630,000 $ 742,780,000 $ 586,230,000
International Purchases 271,450,000 250,070,000 248,540,000
Total Economic Contributions $ 861,080,000 $ 992,850,000 $ 834,770,000
EMPLOYMENT IN THE DOMINICAN REPUBLIC – 2017 PUEBLO VIEJO
From Local Communities14 740 34%
From Region 452 21%
Nationals 900 41%
Foreign Nationals 106 5%
Total Employees 2,198
SENIOR SITE MANAGEMENT – 2017 PUEBLO VIEJO
Nationals 3 19%
Foreign Nationals 13 81%
Total Senior Management Employees 16
14 Local communities are defined as communities located within 25km from the center of any Pueblo Viejo components with significant risks or impacts from, or
relevance to, the operation. The site has prioritized 39 communities: 25 around the mine and 14 around the power facilities.
In the CommunityPueblo Viejo
26 2017 ECONOMIC CONTRIBUTIONS REPORT BARRICK GOLD CORPORATION
BARRICK IN PERU
In the CommunityPierina
As the Pierina mine closes, the site
continues to work closely with the
community to improve local water in-
frastructure. As part of the program, a
reinforced concrete reservoir with stor-
age capacity of 300 m3 of water for
irrigation was built. This infrastructure
will allow irrigation of plots with crops
of potatoes, corn, and alfalfa in the dry
season and will benefit 800 residents.
2017 At-A-GlanceEmployees 1,311
Contractors 1,717
Operations Lagunas Norte (the Pierina mine is
in closure)
Gold Production 387,000 oz
$750M Barrick has contributed more than $750 million in taxes and royalties to Peru since 2013.
99% Since 2014, 99 percent of our employees in Peru have come from Peru.
27BARRICK GOLD CORPORATION 2017 ECONOMIC CONTRIBUTIONS REPORT
ECONOMIC CONTRIBUTIONS TO PERU 2015 2016 2017
Taxes and Government Royalties $ 125,210,000 $ 118,460,000 $ 121,750,000
Income Taxes 107,020,000 102,760,000 108,090,000
Other Taxes 60,000 40,000 20,000
Royalties Paid to Governments 17,030,000 14,190,000 12,650,000
Sales & Value Added Tax 1,100,000 1,480,000 990,000
Payments to Employees $ 74,980,000 $ 79,600,000 $ 85,150,000
Employee Benefits 31,070,000 35,920,000 36,070,000
Employment Taxes 50,000 60,000 60,000
Payroll Taxes 3,150,000 3,270,000 3,750,000
Wages or Salaries 40,720,000 40,360,000 45,270,000
Community Investments $ 10,950,000 $ 6,660,000 $ 6,220,000
Arts, Culture & Sports – – 140,000
Community Engagement 770,000 230,000 680,000
Economic Development 1,500,000 3,110,000 1,160,000
Education 1,610,000 580,000 1,030,000
Environment – 50,000 350,000
Health 470,000 30,000 20,000
Infrastructure 1,760,000 1,630,000 1,890,000
Other Activities 4,840,000 1,030,000 950,000
Other Payments $ 500,000 $ – $ 920,000
Purchases of goods and services $ 286,790,000 $ 296,840,000 $ 309,760,000
Local Purchases15 12,010,000 14,120,000 17,120,000
Regional Purchases16 22,810,000
Peruvian Purchases 274,780,000 282,720,000 269,830,000
Total In-Country Expenditure $ 498,430,000 $ 501,560,000 $ 523,800,000
International Purchases 20,980,000 8,960,000 17,430,000
Total Economic Contributions $ 519,410,000 $ 510,520,000 $ 541,230,000
EMPLOYMENT IN PERU – 2017 PERU LAGUNAS NORTE PIERINA LIMA
Local Communities15 215 16% 130 16% 30 7% 55 65%
Host Region16 437 33% 244 30% 193 47%
Peruvians 658 50% 439 54% 189 46% 30 35%
Foreign Nationals 1 1% 1 0%
Total Employees 1311 813 413 85
SENIOR SITE MANAGEMENT – 2017 LAGUNAS NORTE PIERINA
From Local Communities15 – – – –
From Host Region16 2 15% 2 22%
Peruvians 11 85% 6 67%
Foreign Nationals – – 1 11%
Total Senior Management Employees 13 9
15 For Pierina, includes 11 population centers and rural communities (Huanja, Mataquita; Atupa, Antahurán, San Miguel de Tinyash, Mareniyoc and Chaquecyaco,
San Isidro de Pacollón, Ramón Castilla, Miguel Grau de Shecta and Andres Avelino Cáceres de Cuncashc). For Lagunas Norte, includes 14 population centers (El
Sauco, Chuyugual, Cushuro, Pampa Verde, Corral Grande, Los Loros, Totoras, San Pedro, Yanivilca, La Victoria, Santos Genoveva, Canibamba Alto, Quesquenda
and Quiruvilca).
16 For Pierina, includes the rest of the district of Jangas and Independencia, the Province of Huaraz, and the Region of Ancash. For Lagunas Norte,includes the rest of
the districts of Quiruvilca, Sanagorán and Usquil; the Provinces of Santiago de Chuco, Sanchez Carrión and Otuzco; and the Region of La Libertad.
2017 ECONOMIC CONTRIBUTIONS REPORT BARRICK GOLD CORPORATION28
2017 At-A-GlanceEmployees 3,774
Contractors 3,016
Operations Barrick Nevada Turquoise Ridge (75%)
Golden Sunlight
Projects Goldrush
Gold Production 2,552,000 oz
BARRICK IN THE UNITED STATES
In the CommunityWestern Shoshone Legacy Fund
In 2008, Barrick signed a Collaborative
Agreement with leaders of four Native
American communities in Nevada. The
Agreement included a commitment
to establish the Western Shoshone
Educational Legacy Fund. The Legacy
Fund is a stand-alone endowment.
The Board and Selection Steering
Committee both include one represen-
tative from each tribe that has signed
the Collective Agreement and one
representative from Barrick. The Legacy
Fund focuses on education, specifi-
cally scholarships for college-bound
Shoshone students.
29,000 The mining industry supports more than 29,000 direct jobs in Nevada.
Barrick is partnering with Cisco and Great Basin College to bring free digital education and training to employees and local Nevadans.
29BARRICK GOLD CORPORATION 2017 ECONOMIC CONTRIBUTIONS REPORT
ECONOMIC CONTRIBUTIONS TO THE UNITED STATES 2015 2016 2017
Taxes and Government Royalties $ 174,450,000 $ 373,540,000 $ 688,700,000
Income Taxes 115,080,000 229,180,000 538,530,000
Other Taxes 23,280,000 102,150,000 101,400,000
Royalties Paid to Governments – – –
Sales & Value Added Tax 36,090,000 42,210,000 48,770,000
Payments to Employees $ 829,720,000 $ 616,980,000 $ 631,650,000
Employee Benefits 270,690,000 111,900,000 104,880,000
Employment Taxes 32,970,000 27,650,000 31,950,000
Payroll Taxes 92,090,000 91,540,000 94,680,000
Wages or Salaries 433,970,000 385,890,000 401,140,000
Community Investments $ 12,310,000 $ 9,680,000 $ 9, 640,000
Arts, Culture & Sports 1,710,000 900,000 1,660,000
Community Engagement 1,920,000 660,000 850,000
Economic Development 670,000 300,000 260,000
Education 5,170,000 5,860,000 4,660,000
Environment 1,360,000 800,000 1,070,000
Health 860,000 630,000 1,010,000
Infrastructure – 90,000 30,000
Other Activities 620,000 440,000 100,000
Other Payments $ 56,370,000 $ 56,550,000 $ 54,400,000
Purchases of goods and services $ 1,635,300,000 $ 1,109,370,000 $ 1,351,680,000
In-State Purchases 410,430,000 134,640,000 272,120,000
National Purchases 1,224,870,000 974,730,000 1,079,560,000
Total In-Country Expenditures $ 2,708,140,000 $ 2,166,100,000 $ 2,736,070,000
International Purchases 32,520,000 36,780,000 61,600,000
Total Economic Contributions $ 2,740,660,000 $ 2,202,880,000 $ 2,797,670,000
EMPLOYMENT IN THE UNITED STATES – 2017 UNITED STATES BARRICK NEVADA TURQUOISE RIDGE OFFICES
GOLDEN SUNLIGHT
State Residents 96% 3,630 2,845 96% 458 97% 484 93% 52 98%
Americans 3% 123 101 3% 9 2% 18 3% 1 2%
Foreign Nationals 1% 21 8 1% 3 1% 20 4%
Total Employees 3774 2954 470 522 53
SENIOR SITE MANAGEMENT – 2017 BARRICK NEVADA TURQUOISE RIDGE GOLDEN SUNLIGHT
State Residents 15 88% 5 83% 6 100%
Foreign Nationals 2 12% 1 17%
Total Senior Management Employees 17 6 6
30 2017 ECONOMIC CONTRIBUTIONS REPORT BARRICK GOLD CORPORATION
2017 At-A-GlanceEmployees 1,864
Contractors 2,347
Operations Lumwana
Copper Production 256,000,000 lbs
BARRICK IN ZAMBIA
In the CommunityLumwana Community Trust Fund
The Lumwana Community Trust Fund
remains as an important vehicle for lo-
cal social investment in socio-economic
infrastructure and as a platform for key
stakeholder engagement. The Fund
was established following a memoran-
dum of understanding signed between
Lumwana Mining Company and the
three host Chiefdoms of the local area.
The Fund supports infrastructure proj-
ects identified by a committee consist-
ing of local traditional leaders, govern-
ment and mine management. The cost
of identified projects is shared, with the
mine contributing 75 percent and the
balance covered by local communities.
77% Copper accounts for 77 percent of Zambia’s exports.
12% Mining accounts for approximately 12 percent of Zambia’s gross domestic product.
31BARRICK GOLD CORPORATION 2017 ECONOMIC CONTRIBUTIONS REPORT
ECONOMIC CONTRIBUTIONS TO ZAMBIA 2015 2016 2017
Taxes and Government Royalties $ 140,850,000 $ 89,780,000 $ 89,540,000
Income Taxes 8,120,000 5,370,000 21,030,000
Other Taxes 850,000 1,210,000 2,420,000
Royalties Paid to Governments 97,670,000 49,110,000 61,540,000
Sales & Value Added Tax 34,210,000 34,090,000 4,550,000
Payments to Employees $ 83,220,000 $ 75,250,000 $ 87,040,000
Employee Benefits 3,980,000 8,090,000 8,860,000
Payroll Taxes 17,550,000 14,790,000 19,140,000
Wages or Salaries 61,690,000 52,370,000 59,040,000
Community Investments $ 1,080,000 $ 1,160,000 $ 1,470,000
Arts, Culture & Sports 70,000 – 90,000
Community Engagement 10,000 220,000 410,000
Economic Development 580,000 340,000 160,000
Education 280,000 360,000 170,000
Environment – – 550,000
Health 20,000 50,000 50,000
Infrastructure 100,000 10,000 20,000
Other Activities 10,000 180,000 20,000
Other Payments $ 1,610,000 $ 1,060,000 $ 2,600,000
Purchases of Goods and Services $ 329,150,000 $ 272,050,000 $ 329,110,000
From Local Communities17 52,730,000
4,630,000 4,520,000
North Western Province Purchases 8,330,000 12,520,000
Zambian Purchases 276,420,000 259,090,000 312,070,000
Total In-Country Expenditures $ 555,900,000 $ 439,300,000 $ 509,760,000
International Purchases 48,470,000 64,170,000 106,060,000
Total Economic Contributions $ 604,370,000 $ 503,470,000 $ 615,820,000
EMPLOYMENT IN ZAMBIA – 2017 LUMWANA
From Local Communities17 886 48%
Zambians 915 49%
Foreign Nationals 63 3%
Total Employees 1,864
SENIOR SITE MANAGEMENT – 2017 LUMWANA
Zambians 4 40%
Foreign Nationals 6 60%
Total Senior Management Employees 10
17 Chiefdoms of Mukumbi, Mumena, and Matebo.
32 2017 ECONOMIC CONTRIBUTIONS REPORT BARRICK GOLD CORPORATION
Payments by Payee1
COUNTRY PAYEE NAME
DEPARTMENTS, AGENCY, ETC…
WITHIN PAYEE THAT RECEIVED PAYMENTS2 TAXES ROYALTIES FEES
PRODUCTION ENTITLEMENTS BONUSES DIVIDENDS
INFRASTRUCTURE IMPROVEMENT
PAYMENTSTOTAL AMOUNT PAID
TO PAYEE NOTES
Argentina Government of the Province of San Juan
340,000 12,240,000 3,130,000 – – – 5,190,000 20,900,000
Australia Government of Australia 75,880,000 – - – – – – 75,880,000
Canada – Ontario Biigtigong Nishnaabeg – – 2,040,000 – – – – 2,040,000
City of Thunder Bay 120,000 – - – – – – 120,000
Government of Ontario 9,310,000 – - – – – – 9,310,000
Pic Mobert First Nation – – 2,240,000 – – – – 2,240,000
Town of Manitouwadge 220,000 – - – – – – 220,000
Town of Marathon 420,000 – - – – – – 420,000
Chile Government of Chile 5,550,000 – 4,260,000 – – – 720,000 10,530,000
Junta de Vigilancia de la Cuenca del Río Huasco y Sus Afluentes
– – – – – – 740,000 740,000
Municipality of Antofagasta
270,000 – – – – – – 270,000
Municipality of Coquimbo 1,010,000 – – – – – – 1,010,000
Municipality of Providencia
820,000 – – – – – – 820,000
Dominican Republic
Government of the Dominican Republic
282,670,000 43,210,000 480,000 – – – 1,000,000 327,360,000
Maimon Municipality – – – – – – 90,000 90,000
Zambrana Municipality – – – – – – 100,000 100,000
Peru Government of Peru 27,040,000 12,660,000 12,020,000 – – – – 51,720,000
La Libertad Regional Government
– – – – – – 1,930,000 1,930,000
Papua New Guinea
Government of Papua New Guinea
3,180,000 – – – – – – 3,180,000
EXTRACTIVE SECTOR TRANSPARENCY MEASURES ACT Annual Report
For the year ended December 31, 2017, as filed with Natural Resources Canada June 30, 2018.
33BARRICK GOLD CORPORATION 2017 ECONOMIC CONTRIBUTIONS REPORT
Payments by Payee1
COUNTRY PAYEE NAME
DEPARTMENTS, AGENCY, ETC…
WITHIN PAYEE THAT RECEIVED PAYMENTS2 TAXES ROYALTIES FEES
PRODUCTION ENTITLEMENTS BONUSES DIVIDENDS
INFRASTRUCTURE IMPROVEMENT
PAYMENTSTOTAL AMOUNT PAID
TO PAYEE NOTES
Argentina Government of the Province of San Juan
340,000 12,240,000 3,130,000 – – – 5,190,000 20,900,000
Australia Government of Australia 75,880,000 – - – – – – 75,880,000
Canada – Ontario Biigtigong Nishnaabeg – – 2,040,000 – – – – 2,040,000
City of Thunder Bay 120,000 – - – – – – 120,000
Government of Ontario 9,310,000 – - – – – – 9,310,000
Pic Mobert First Nation – – 2,240,000 – – – – 2,240,000
Town of Manitouwadge 220,000 – - – – – – 220,000
Town of Marathon 420,000 – - – – – – 420,000
Chile Government of Chile 5,550,000 – 4,260,000 – – – 720,000 10,530,000
Junta de Vigilancia de la Cuenca del Río Huasco y Sus Afluentes
– – – – – – 740,000 740,000
Municipality of Antofagasta
270,000 – – – – – – 270,000
Municipality of Coquimbo 1,010,000 – – – – – – 1,010,000
Municipality of Providencia
820,000 – – – – – – 820,000
Dominican Republic
Government of the Dominican Republic
282,670,000 43,210,000 480,000 – – – 1,000,000 327,360,000
Maimon Municipality – – – – – – 90,000 90,000
Zambrana Municipality – – – – – – 100,000 100,000
Peru Government of Peru 27,040,000 12,660,000 12,020,000 – – – – 51,720,000
La Libertad Regional Government
– – – – – – 1,930,000 1,930,000
Papua New Guinea
Government of Papua New Guinea
3,180,000 – – – – – – 3,180,000
Barrick is required to report in accordance with
the Extractive Sector Transparency Measures Act
(“ESTMA”) issued by the Government of Canada.
This report is prepared according to specific parame-
ters established by the Government of Canada.
In particular, reportable payments made to gov-
ernment are presented on a net cash basis for the
year ended December 31, 2017. Barrick’s Economic
Contributions Report is on an accrual basis. As a
result, the data included in the ESTMA Report and
Barrick’s Economic Contributions Report are not
directly comparable.
34 2017 ECONOMIC CONTRIBUTIONS REPORT BARRICK GOLD CORPORATION
COUNTRY PAYEE NAME
DEPARTMENTS, AGENCY, ETC…
WITHIN PAYEE THAT RECEIVED PAYMENTS2 TAXES ROYALTIES FEES
PRODUCTION ENTITLEMENTS BONUSES DIVIDENDS
INFRASTRUCTURE IMPROVEMENT
PAYMENTSTOTAL AMOUNT PAID
TO PAYEE NOTES
United States of America
Elko County 980,000 – – – – – – 980,000
Eureka County 4,870,000 – 90,000 – – – – 4,960,000
Government of the United States of America
176,950,000 – 4,290,000 – – – – 181,240,000
Humboldt County 1,510,000 – – – – – – 1,510,000
Jefferson County 1,440,000 – – – – – – 1,440,000
Lander County 3,800,000 – 120,000 – – – – 3,920,000
Lawrence County 100,000 – – – – – – 100,000
State of Alaska 90,000 – – – – – – 90,000
State of California – – 110,000 – – – – 110,000
State of Montana 1,590,000 – – – – – – 1,590,000
State of Nevada 36,900,000 – 1,510,000 – – – 1,610,000 40,020,000
State of Utah 370,000 – – – – – – 370,000
Storey County 440,000 – – – – – – 440,000
Zambia Government of Zambia – 61,720,000 1,020,000 – – – – 62,740,000
1 The ‘Basis of report preparation’ section on pages 38 to 40 is an integral part of this ESTMA Report.2 Optional field.
35BARRICK GOLD CORPORATION 2017 ECONOMIC CONTRIBUTIONS REPORT
COUNTRY PAYEE NAME
DEPARTMENTS, AGENCY, ETC…
WITHIN PAYEE THAT RECEIVED PAYMENTS2 TAXES ROYALTIES FEES
PRODUCTION ENTITLEMENTS BONUSES DIVIDENDS
INFRASTRUCTURE IMPROVEMENT
PAYMENTSTOTAL AMOUNT PAID
TO PAYEE NOTES
United States of America
Elko County 980,000 – – – – – – 980,000
Eureka County 4,870,000 – 90,000 – – – – 4,960,000
Government of the United States of America
176,950,000 – 4,290,000 – – – – 181,240,000
Humboldt County 1,510,000 – – – – – – 1,510,000
Jefferson County 1,440,000 – – – – – – 1,440,000
Lander County 3,800,000 – 120,000 – – – – 3,920,000
Lawrence County 100,000 – – – – – – 100,000
State of Alaska 90,000 – – – – – – 90,000
State of California – – 110,000 – – – – 110,000
State of Montana 1,590,000 – – – – – – 1,590,000
State of Nevada 36,900,000 – 1,510,000 – – – 1,610,000 40,020,000
State of Utah 370,000 – – – – – – 370,000
Storey County 440,000 – – – – – – 440,000
Zambia Government of Zambia – 61,720,000 1,020,000 – – – – 62,740,000
1 The ‘Basis of report preparation’ section on pages 38 to 40 is an integral part of this ESTMA Report.2 Optional field.
36 2017 ECONOMIC CONTRIBUTIONS REPORT BARRICK GOLD CORPORATION
Payments by Project
COUNTRY PROJECT NAME TAXES ROYALTIES FEESPRODUCTION
ENTITLEMENTS BONUSES DIVIDENDS
INFRASTRUCTURE IMPROVEMENT
PAYMENTSTOTAL AMOUNT PAID
BY PROJECT NOTES
Argentina Veladero 260,000 12,240,000 3,060,000 – – – 4,570,000 20,130,000 We divested 50% of Veladero on June 30, 2017, bringing our ownership down to 50%. Payments reported relating to this project relate to payments made prior to the sale on June 30, 2017 or payments made on behalf of Barrick.
Lama 40,000 – 20,000 – – – 620,000 680,000
Exploration 40,000 – 50,000 – – – – 90,000
Australia Kalgoorlie 75,880,000 – - – – – – 75,880,000 Kalgoorlie is not controlled by Barrick. The reported payments were made directly by a Barrick controlled subsidiary in relation to the project.
Canada – Ontario Hemlo 10,070,000 – 4,280,000 – – – – 14,350,000
Chile Zaldívar 4,570,000
– -
– – – – 4,570,000 Zaldívar is not controlled by Barrick. The reported payments were made directly by a Barrick controlled subsidiary in relation to the project.
Pascua 650,000 – 1,080,000 – – – 860,000 2,590,000
Cerro Casale 600,000 – 1,310,000 – – – 600,000 2,510,000 We divested 50% of Cerro Casale on June 9, 2017, bringing our ownership down to 50%. Payments reported relating to this project relate to payments made prior to the sale on June 9, 2017.
Exploration 100,000 – 1,160,000 – – – – 1,260,000
Projects – – 270,000 – – – – 270,000
Closure Sites – – 440,000 – – – – 440,000
Non-project specific 1,730,000 – – – – – – 1,730,000
Dominican Republic
Pueblo Viejo 282,670,000 43,210,000 480,000 – – – 1,190,000 327,550,000
Peru Lagunas Norte 23,340,000 12,660,000 7,620,000 – – – 1,930,000 45,550,000
Pierina 3,510,000 – 4,400,000 – – – – 7,910,000
Exploration 190,000 – – – – – – 190,000
Papua New Guinea
Porgera 3,180,000 – – – – – – 3,180,000 Porgera is not controlled by Barrick. The reported payments were made directly by a Barrick controlled subsidiary in relation to the project.
United States of America
Goldstrike 23,050,000 – 1,230,000 – – – – 24,280,000
Cortez 15,630,000 – 1,460,000 – – – 1,610,000 18,700,000
Turquoise Ridge 8,750,000 – 280,000 – – – – 9,030,000
Golden Sunlight 2,230,000 – 220,000 – – – – 2,450,000
Closure Sites 1,100,000 – 1,060,000 – – – – 2,160,000
Exploration – – 1,840,000 – – – – 1,840,000
Non-project specific 178,280,000 – 30,000 – – – – 178,310,000
Zambia Lumwana – 61,720,000 1,020,000 – – – – 62,740,000
1 The ‘Basis of report preparation’ section on pages 38 to 40 is an integral part of this ESTMA Report.
37BARRICK GOLD CORPORATION 2017 ECONOMIC CONTRIBUTIONS REPORT
Payments by Project
COUNTRY PROJECT NAME TAXES ROYALTIES FEESPRODUCTION
ENTITLEMENTS BONUSES DIVIDENDS
INFRASTRUCTURE IMPROVEMENT
PAYMENTSTOTAL AMOUNT PAID
BY PROJECT NOTES
Argentina Veladero 260,000 12,240,000 3,060,000 – – – 4,570,000 20,130,000 We divested 50% of Veladero on June 30, 2017, bringing our ownership down to 50%. Payments reported relating to this project relate to payments made prior to the sale on June 30, 2017 or payments made on behalf of Barrick.
Lama 40,000 – 20,000 – – – 620,000 680,000
Exploration 40,000 – 50,000 – – – – 90,000
Australia Kalgoorlie 75,880,000 – - – – – – 75,880,000 Kalgoorlie is not controlled by Barrick. The reported payments were made directly by a Barrick controlled subsidiary in relation to the project.
Canada – Ontario Hemlo 10,070,000 – 4,280,000 – – – – 14,350,000
Chile Zaldívar 4,570,000
– -
– – – – 4,570,000 Zaldívar is not controlled by Barrick. The reported payments were made directly by a Barrick controlled subsidiary in relation to the project.
Pascua 650,000 – 1,080,000 – – – 860,000 2,590,000
Cerro Casale 600,000 – 1,310,000 – – – 600,000 2,510,000 We divested 50% of Cerro Casale on June 9, 2017, bringing our ownership down to 50%. Payments reported relating to this project relate to payments made prior to the sale on June 9, 2017.
Exploration 100,000 – 1,160,000 – – – – 1,260,000
Projects – – 270,000 – – – – 270,000
Closure Sites – – 440,000 – – – – 440,000
Non-project specific 1,730,000 – – – – – – 1,730,000
Dominican Republic
Pueblo Viejo 282,670,000 43,210,000 480,000 – – – 1,190,000 327,550,000
Peru Lagunas Norte 23,340,000 12,660,000 7,620,000 – – – 1,930,000 45,550,000
Pierina 3,510,000 – 4,400,000 – – – – 7,910,000
Exploration 190,000 – – – – – – 190,000
Papua New Guinea
Porgera 3,180,000 – – – – – – 3,180,000 Porgera is not controlled by Barrick. The reported payments were made directly by a Barrick controlled subsidiary in relation to the project.
United States of America
Goldstrike 23,050,000 – 1,230,000 – – – – 24,280,000
Cortez 15,630,000 – 1,460,000 – – – 1,610,000 18,700,000
Turquoise Ridge 8,750,000 – 280,000 – – – – 9,030,000
Golden Sunlight 2,230,000 – 220,000 – – – – 2,450,000
Closure Sites 1,100,000 – 1,060,000 – – – – 2,160,000
Exploration – – 1,840,000 – – – – 1,840,000
Non-project specific 178,280,000 – 30,000 – – – – 178,310,000
Zambia Lumwana – 61,720,000 1,020,000 – – – – 62,740,000
1 The ‘Basis of report preparation’ section on pages 38 to 40 is an integral part of this ESTMA Report.
38 2017 ECONOMIC CONTRIBUTIONS REPORT BARRICK GOLD CORPORATION
This report was prepared in accordance with the Extractive
Sector Transparency Measures Act (“ESTMA” or the “Act”)
issued by the Government of Canada. The information in this
report was prepared by Barrick Gold Corporation (“Barrick”)
for the sole purpose of complying with Barrick’s obligations
under the ESTMA. The information contained in this report is
provided solely for the benefit of Natural Resources Canada
(“NRCan”) and in connection with Barrick’s obligations under
the ESTMA. This report may not be used or relied upon by any
other person or for any other purpose without Barrick’s express
prior written consent.
1 Projects
According to the Technical Reporting Specifications issued by
NRCan, a project is the operational activities that are governed
by a single contract, license, lease, concession or similar legal
agreement and form the basis for payment liabilities with a
government. If multiple agreements are “substantially inter-
connected”, they are considered a single project. “Substantially
interconnected” means forming a set of operationally and geo-
graphically integrated contracts, licenses, leases or concessions
or related agreements with substantially similar terms that are
signed with a government and give rise to payment liabilities.
This report includes payments made that are reportable under
ESTMA for all of Barrick’s controlled projects, regardless of
Barrick’s ownership interest. In accordance with the Act, this
report does not include payments made by projects that Barrick
does not control, except if payments were made by a Barrick
controlled entity in relation to the project. Projects that Barrick
has an economic interest in but are not controlled by Barrick
consist of the following:
PLACE OF BUSINESS ENTITY TYPE ECONOMIC INTEREST ACCOUNTING METHOD
Norte Abierto Project 1 Chile Joint Operations 50% Our share
Donlin Gold Project 2 United States Joint Operations 50% Our share
Kalgoorlie Mine Australia Joint Operations 50% Our share
Porgera Mine Papua New Guinea Joint Operations 47.5% Our share
Veladero 3 Argentina Joint Operations 50% Our share
Jabal Sayid Saudi Arabia Joint Venture 50% Equity method
Kabanga Project Tanzania Joint Venture 50% Equity method
Zaldívar Chile Joint Venture 50% Equity method
1 We divested 25% of Cerro Casale on June 9, 2017, bringing our ownership down to 50%. As part of that transaction, we formed a joint operation with
Goldcorp. The joint operation, which is now referred to as Norte Abierto Project, includes the Cerro Casale and Caspiche deposits. Payments reported relating to
this project relate to payments made prior to the sale on June 9, 2017.
2 Donlin Gold LLC is a non-reporting U.S. entity. Its shares are owned 50/50 by Barrick Gold Corporation and NovaGold Resources Inc. (“NovaGold”). Neither
Barrick nor NovaGold control Dolin Gold LLC. In accordance with the additional guidance provided by NRCan in August 2017 and April 2018, NovaGold has
included 100% of payments made by Donlin Gold LLC to enhance transparency.
3 We divested 50% of Veladero on June 30, 2017, bringing our ownership down to 50%. Payments reported relating to this project relate to payments made prior
to the sale on June 30, 2017 or payments made on behalf of Barrick.
BASIS OF REPORT PREPARATION
39BARRICK GOLD CORPORATION 2017 ECONOMIC CONTRIBUTIONS REPORT
Barrick also holds a 63.9% interest in Acacia Mining Plc
(“Acacia”). Acacia is subject to the reporting requirements of
the EU’s “Accounting and Transparency Directives”, and will
be filing a report under that directive by June 30, 2018. That
report will also be submitted to Natural Resources Canada
in accordance with section 10(2) of the Act and published at
http://www.acaciamining.com.
Non-significant projects, in which insignificant payments to
governments were made, have been grouped together and
presented as exploration sites, closed sites, or projects.
Non-project specific payments relate to payments made for the
commercial development of minerals that have been calculated
and paid on a consolidated basis and are difficult to split or
disaggregate to a specific project.
2 Governments
Government is defined as:
a. any government in Canada or in a foreign state
b. a body that is established by two or more governments,
any trust, board, commission, corporation or body or
authority that is established to exercise or perform, or
that exercises or performs, a power, duty or function of
government for a government referred to in paragraph (a)
or a body referred to in paragraph (b).
3 Reporting Currency
Reportable payments to governments have been disclosed in
United States (“US”) dollars, unless otherwise shown. This is
consistent with Barrick’s functional currency for consolidated
accounting purposes. Payments denominated in currencies
other than US dollars were translated using the exchange rate
at the time the payment was made. The average exchange
rates for 2017 are as follows:
CURRENCY AVERAGE EXCHANGE RATE
Argentinean peso ARS per $US 16.56
Australian dollar $US per $AUD 0.77
Canadian dollar $CAD per $US 1.30
Chilean peso CLP per $US 649
Dominican peso DOP per $US 47
Papua New Guinea Kina PGK per $US 0.3039
Peruvian sol PEN per $US 3.26
Zambian kwacha ZMW per $US 9.54
4 Payments
Reportable payments made to governments are presented on a
net cash basis for the year ended December 31, 2017.
Any payment, whether made as a single payment or a series
of payments, below $77,080 (CAD $100,000 threshold as set
out under the Act converted to USD using the full year average
exchange rate) in a given category to a particular government
was not reported.
Reportable payments have been rounded to the nearest
$10,000 but rounding was not to be used for determining
reportable payments.
A TaxesThis category consists of taxes paid to governments based on
income, profit or production in relation to the commercial de-
velopment of minerals. The following are not included in total
payments to governments:
• Consumption tax, such as value-added tax, excise tax and
custom tax
• Personal income tax
• Withholding tax
• Taxes which were offset by credits
• Other taxes that do not relate to the commercial devel-
opment of minerals, such as payroll tax, stamp tax and
personal asset tax
B RoyaltiesThis category consists of royalties paid to governments relating
to the commercial development of minerals. No royalties paid
in kind have been made to governments for the year ended
December 31, 2017.
C FeesThis category consists of fees paid to governments relating to
the commercial development of minerals, such as permit and
license fees. This does not include amounts paid in the ordinary
course of commercial transactions in exchange for services
provided by governments, such as utilities paid at market rates.
40 2017 ECONOMIC CONTRIBUTIONS REPORT BARRICK GOLD CORPORATION
D Production entitlementsThis category includes payments made to governments relating
to a share of production under production sharing agreements.
There were no production entitlements payments made to gov-
ernments for the year ended December 31, 2017.
E BonusesThis category includes signing, discovery, production and any
other type of bonuses paid to governments. There were no
bonus payments made to governments for the year ended
December 31, 2017.
F DividendsThis category consists of dividends paid to governments on
shares given in lieu of a bonus, production entitlements, royal-
ties or other fees. This does not include dividends paid to gov-
ernments as an ordinary shareholder. There were no dividends
paid to governments for the year ended December 31, 2017.
G Infrastructure improvement paymentsThis category consists of payments made to governments
for the construction of public infrastructure, such as roads,
schools and hospitals that directly relate to the commercial
development of minerals. This does not include infrastructure
improvement payments that relate primarily to the operational
purposes of Barrick. Payments are reported in the period in
which the payment was made.
41BARRICK GOLD CORPORATION 2017 ECONOMIC CONTRIBUTIONS REPORT
Cautionary Statement on Forward-Looking Information
Certain information contained or incorporated by reference in this document, including any information as to our economic contri-butions, sustainability strategy and vision, projects, plans, or future financial or operating performance, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “believe”, “expect”, “target”, “plan”, “objective”, “aim”, “project”, “continue”, “estimate”, “potential”, “may”, “will”, “can”, “could”, “should” and similar expressions identify forward-looking statements. In particular, this document contains forward-looking statements including, without limitation, with respect to (i) Barrick’s social and economic development contributions, targets, systems and expected impacts; (ii) Barrick’s strategy and approach to tax, including policies, expected benefits and anticipated tax rates; (iii) Barrick’s corporate social responsibility (including sustainable development and community relations; (iv) Barrick’s policies and targets for local purchases and local employment; (v) the estimated timing to achieve environmental, social and energy reduction targets; (vi) projected capital, operating and exploration expenditures; (vii) joint ventures and partnerships; (viii) ongoing exploration and development efforts, including in Nevada; (ix) production rates; and (x) expectations regarding future performance and other outlook or guidance.
Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by the Company as at the date of this document in light of management’s experience and perception of current conditions and expected developments, are inherently subject to signif-icant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: changes in national and local government legislation, taxation, controls or regulations, and/or changes in the administration of laws, policies, and practices, expropriation or nationalization of property and political or economic developments in Canada, the United States, and other jurisdictions in which the Company does or may carry on business in the future; lack of certainty with respect to foreign legal systems, corruption and other factors that are inconsistent with the rule of law; damage to the Company’s reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Company’s handling of environmental matters or dealings with community groups, whether true or not; availability and increased costs associated with mining inputs and labor; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; litigation; contests over title to properties, particularly title to undeveloped properties, or over access to water, power and other required infrastructure; risks associated with working with partners in jointly controlled assets; employee relations including loss of key employees; the benefits expected from transactions being realized; our ability to successfully integrate acquisitions or complete divestitures; risks associated with the implementation of Barrick’s digital transformation initiative; increased costs and risks related to the potential impact of climate change; fluctuations in the spot and forward price of gold, copper, or certain other commodities (such as silver, diesel fuel, natural gas, and electricity); the speculative nature of mineral exploration and development; changes in mineral production performance, exploitation, and exploration successes; diminishing quantities or grades of reserves; increased costs, delays, suspensions, and technical challenges associated with the construction of capital projects; operating or technical difficulties in connection with mining or develop-ment activities, including geotechnical challenges, and disruptions in the maintenance or provision of required infrastructure and informa-tion technology systems; failure to comply with environmental and health and safety laws and regulations; timing of receipt of, or failure to comply with, necessary permits and approvals; uncertainty whether some or all of the Best-in-Class initiatives and targeted investments and projects will meet the Company’s capital allocation objectives and internal hurdle rate; the possibility that future exploration results will not be consistent with Barrick’s expectations; risks that exploration data may be incomplete and considerable additional work may be required to complete further evaluation, including but not limited to drilling, engineering and socioeconomic studies and investment; risks associated with the fact that certain of the initiatives described in this document are still in the early stages and may not materialize; and business opportunities that maybe presented to, or pursued by, the Company. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unex-pected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks).
Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this document are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick’s ability to achieve the expectations set forth in the forward-looking statements con-tained in this document.
The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new infor-mation, future events or otherwise, except as required by applicable law.
www.barrick.com
Barrick Gold Corporation
Head Office:
Brookfield Place
TD Canada Trust Tower 161 Bay Street
Suite 3700
P.O. Box 212
Toronto, Canada M5J 2S1
Tel: 416 861-9911
Toll-free throughout North America: 1 800 720-7415
Fax: 416 861 2492
Email: responsiblemining@barrick.com
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