Barrick Mining Corporation Releases Tailings Storage Disclosures
In a significant move towards enhanced transparency, Barrick Mining Corporation (NYSE: B, TSX: ABX) has released detailed site-level disclosures related to its tailings storage facilities (TSFs). This initiative aligns with the Global Industry Standard on Tailings Management (GISTM), specifically in fulfilling Principle 15, and builds upon earlier disclosures made in 2023.
Commitment to Transparency and Safety
Mark Bristow, the president and chief executive of Barrick, emphasized that the release of these disclosures aims to provide the public with essential information regarding the company's tailings facilities. This move demonstrates Barrick's ongoing commitment to maintaining transparency.
Bristow highlighted Barrick's collaboration with the International Council on Mining and Metals (ICMM) in developing this crucial standard, marking the company as a staunch advocate for its adoption across the mining industry. He mentioned, “The GISTM resonates strongly with our own comprehensive tailings management practices, focusing on responsible operation and closure of these facilities.”
Prioritizing Safe Closure for Inactive Facilities
Barrick is not only committed to transparency but also to the safe closure of its inactive tailings storage facilities. The group’s sustainability executive, Grant Beringer, pointed out the importance of assessing and mitigating long-term risks associated with human health and environmental safety in achieving safe closures. Currently, Barrick has implemented safe closure protocols for 13 facilities, with plans for an additional five in the upcoming year.
Engagement with Stakeholders
In his statement, Beringer underscored the necessity of stakeholder engagement during the closure process. He stated, “The safe closure of these facilities requires the involvement of stakeholders, the conservation of key biodiversity features, and protection of cultural values.” This commitment makes it clear that Barrick is dedicated to upholding both environmental and societal responsibilities.
About Barrick Mining Corporation
Barrick Mining Corporation stands as a leader in the global mining, exploration, and development sector. Holding one of the most extensive portfolios featuring world-class and long-life gold and copper assets, Barrick manages operations across 18 countries on five continents. Notably, it includes six of the world’s Tier One gold mines and ranks as the largest gold producer in the United States. Through responsible mining practices, strategic partnerships, and disciplined growth approaches, Barrick seeks to create substantial, long-term value for all stakeholders.
Investor Relations
For those seeking to engage with Barrick, the company’s investor and media relations contact is Kathy du Plessis. She can be reached at +44 20 7557 7738 or via email at barrick@dpapr.com for any inquiries.
Frequently Asked Questions
What are TSFs, and why are they important?
Tailings storage facilities (TSFs) are structures used to store waste materials generated from mining processes. They are critical for managing environmental impacts and ensuring the safety of surrounding communities.
How does Barrick ensure the safety of its TSFs?
Barrick implements stringent management practices aligned with global standards, such as the GISTM, focusing on responsible operation and closure.
What is the GISTM, and how does it relate to Barrick?
The Global Industry Standard on Tailings Management (GISTM) is a framework designed to ensure the safe and environmentally responsible management of tailings. Barrick adheres closely to these principles in its operations.
How many facilities has Barrick closed safely?
Barrick has successfully reached safe closure for 13 tailings storage facilities and plans to target five more within the next year.
Who can I contact for more information about Barrick?
For inquiries, you can contact Kathy du Plessis, the group investor and media relations representative, at +44 20 7557 7738 or via email at barrick@dpapr.com.
