Barrick Gold Corporation – Page 55

Barrick’s Hemlo Operation leads the way with Towards Sustainable Mining honour

December 12, 2011

This article was provided by the Ontario Mining Association (OMA), an organization that was established in 1920 to represent the mining industry of the province.

Barrick Gold’s Hemlo Operation in Northwestern Ontario was presented with the Mining Association of Canada’s Towards Sustainable Mining (TSM) Leadership Award at a Mining Day on the Hill event in Ottawa last month. Other Ontario Mining Association members to receive TSM accolades were De Beers Canada, Teck Resources and Xstrata.

“Whether in Canada or abroad, Barrick strives to meet high standards for corporate social responsibility,” said Kelvin Dushnisky, Barrick Executive Vice President Corporate and Legal Affairs. “We are proud to see our Hemlo Operation recognized as a leader in responsible mining by Canada’s mining industry and congratulate everyone involved in this great achievement.”

“Barrick is only the second company to win a Leadership Award since the TSM Awards were inaugurated in 2006,” said MAC President Pierre Gratton. “We are honoured to be receiving this special award,” said Roger Souckey, Superintendent of Employee Relations at Hemlo. “At Hemlo, we place great value on our relationships with First Nations, local communities and on environmental stewardship.” Mr. Souckey has been a member of the OMA Education and Outreach Committee since its inception in 2006.

Big [Nevada gold] discovery by Barrick Gold gets industry attention – by Rob Sabo (Northern Nevada Business Weekly – December 5, 2011)

December 5, 2011

Northern Nevada Business Weekly: http://www.nnbw.com/Default.aspx

Barrick Gold Corporation’s two new gold discoveries in Nevada represent the biggest mining story in the state for 2011, says Alan Coyner, administrator for the Nevada Division of Minerals.

In September, Barrick said it had found estimated resources of nearly 3.5 million ounces of gold at its Red Hill and Goldrush claims a few miles southeast of the company’s flagship Cortez mining operations 75 miles southwest of Elko.

Barrick is conducting further drilling on the claim area to determine the full scope of the discovery and to move the estimated, or inferred, resource amount into proven reserves.

“It is the story of the year because of its size,” Coyner told a standing-room crowd of top-level mining executives last week at the annual Northwest Mining Association conference at John Ascuaga’s Nugget.

NEWS RELEASE: $18 Million Gift from Peter and Melanie Munk Builds On Past Support at Peter Munk Cardiac Centre

November 24, 2011

Lead gift launches $100 million campaign in support of cardiac care

TORONTO, Nov. 24, 2011 /CNW/ – Dr. Robert Bell, President and CEO of University Health Network (UHN), announced today that the Peter and Melanie Munk Charitable Foundation is donating $18 million to the Peter Munk Cardiac Centre at UHN. This new gift brings the total investment by Peter and Melanie Munk in UHN to $65 million.

“Peter and Melanie’s new gift builds on their tremendous support over the 18 years they have been involved in creating a world-class cardiac centre,” said Dr. Robert Bell. “Their generosity will continue to transform the standard of cardiac care in Canada, North America and around the world. At the Peter Munk Cardiac Centre, heart surgeons, vascular surgeons, radiologists and cardiologists all work and train together on an integrated team – something that is setting the standard for the care of heart patients.”

The gift will support innovation, recruitment and retention of top cardiac talent by leveraging the incredible patient care and research discoveries already taking place. It will help recruit, retain and train top minds in cardiovascular medicine, surgery and imaging from around the globe.

[Barrick’s] Munk’s $18-million donation aimed at attracting top brains – by Patrick White (Globe and Mail – November 24, 2011)

November 24, 2011

The Globe and Mail is Canada’s national newspaper with the second largest broadsheet circulation in the country. It has enormous influence on Canada’s political and business elite.

It took four words and four days to land one of the biggest donations in the history of Canada’s largest hospital network.

It was May 13, 2010, and Peter Munk, the 84-year-old chair of Barrick Gold, had just completed a tour of his namesake cardiac centre at Toronto General Hospital. As medical director Barry Rubin explained the research frontiers he hoped to conquer in the coming decade, Mr. Munk had just one question.

“How can I help?” Within four days, Dr. Rubin had an answer.

On Thursday, the two men will make the answer public: an $18-million donation to fund four new heart study centres aimed at attracting the calibre of medical brains Canada has often lost to the United States and Europe.

Miners turn to renewable energy to cut costs – by Brenda Bouw (Globe and Mail – November 16, 2011)

November 16, 2011

The Globe and Mail is Canada’s national newspaper with the second largest broadsheet circulation in the country. It has enormous influence on Canada’s political and business elite.

VANCOUVER – Mining companies are gluttons when it comes to energy use as they haul, grind and process ore, but soaring costs and environmental concerns have many turning to cleaner alternatives.

With energy now representing about 25 per cent of production costs, more companies are making huge long-term investments in wind, solar and other renewable energy projects to cut expenses and clean up their operations.

Companies such as Barrick Gold Corp., Teck Resources Ltd. and Rio Tinto PLC have ambitious wind-farm projects under way that will reduce energy costs and provide the much-needed social benefit of showing the communities where they work that progress is being made to reduce their environmental footprint.

Lucky Sudbury, Far North Act and Mining Industry Terrible Image Speech – by Stan Sudol (November 8, 2011)

November 9, 2011

Stan Sudol gave the keynote address at the Ontario Prospectors Association’s 2011 Ontario Exploration & Geoscience Symposium – Sudbury, Ontario – November 8, 2011

Stan Sudol is a Toronto-based communications consultant and mining columnist. www.republicofmining.com stan.sudol@republicofmining.com

Check Against Delivery

Sudbury: The luckiest city in Canada

It’s always great to get back to my hometown.

Way back in 1977, I worked for Inco at their Clarabell Mill complex for a year before going to college. And in 1980, I was a summer student replacement worker at their Frood-Stobie mine.

So I will always be a “Sudbury boy” regardless of where I live.

Without a doubt, Sudbury is this country’s epicenter of mining.

In fact, the Sudbury Basin is the richest mineral district in North America and among the top three hardrock mining regions in the world.

Only South Africa’s Witwatersrand gold region, and their legendary Bushveld platinum complex, can match the concentration and expertise of underground mining here.

We are the luckiest city Canada.

Gold miners bump up their dividends – by Brenda Bouw (Globe and Mail – October 23, 2011)

October 27, 2011

The Globe and Mail is Canada’s national newspaper with the second largest broadsheet circulation in the country. It has enormous influence on Canada’s political and business elite.

VANCOUVER – Gold miners are sweetening their shareholder payouts in an attempt to lure investors as they dive back into the precious metal.

Barrick Gold Corp. and Newmont Mining Corp. two of the world’s top producers, announced increases to their dividends on Wednesday, while Goldcorp Inc. hinted a hike is in the works.

Gold companies traditionally have paid low dividends, but they’re stepping up payouts as they compete for investors in the precious metals industry.

More investors are turning to gold as a haven amid turmoil in global financial markets, which stems from worries about a replay of the last global recession.

Barrick Gold’s Tanzanian headache: Blood and Stone – by Geoffrey York (Globe and Mail – Report on Business Magazine – October, 2011)

September 29, 2011

The Globe and Mail is Canada’s national newspaper with the second largest broadsheet circulation in the country. It has enormous influence on Canada’s political and business elite.

Across the cavernous pits and the mountains of waste rock, the alarm wails eerily, warning that an explosion is imminent. Dozens of villagers gather silently at the edge of a pit, past the holes that have been torn in the fence, waiting for their chance.

Then comes the blast. As a plume of smoke curls into the sky, the scavengers scramble into the pit, eager to prise a living from the freshly smashed rock.

Suddenly the police appear, careering over the rocky road from another corner of the vast mine. The pickup truck full of armed men in green uniforms bounces across the wasteland like a scene from Mad Max. The truck hurtles toward the scavengers, but is halted by a boulder that they have pulled across its path. By the time the police can leap down and move the boulder, the scavengers have scattered into the nearby trees, where they wait for their next opportunity.

This is the daily ritual of conflict at the North Mara gold mine in Tanzania: Intrude and retreat, pursue and withdraw—punctuated by flare-ups that sometimes leave people dead.

For an eyewitness, it’s difficult to reconcile this cycle of violence with the avowed community-friendly policies of the mine’s parent company, Barrick Gold Corp. and the professed goal of its founder, Peter Munk, of making good corporate citizenship the “calling card that precedes us wherever we go.”

Gold miners seek to close the gap with bullion – by Brenda Bouw (Globe and Mail – September 20, 2011)

May 16, 2012September 20, 2011

The Globe and Mail is Canada’s national newspaper with the second largest broadsheet circulation in the country. It has enormous influence on Canada’s political and business elite.

VANCOUVER— The world’s top gold miners are forging ahead with expansion plans and higher dividend payments, despite worries that bullion is bound for a correction after a spectacular runup beyond $1,900 (U.S.) an ounce earlier this month.

The companies are vowing to tackle the issue of share values that lag gold prices through aggressive growth plans, rising margins and sweetened dividends, despite the challenges of rising costs and increased competition for investors.

Executives believe that the price of gold will continue to rise and that equities will soon catch up and could even surpass physical gold in returns to investors.

“I do think the equities will respond,” Barrick Gold Corp.chief executive office Aaron Regent told investors at the Denver Gold Show in Colorado Springs, Colo., on Monday. “The equities have not reflected the strong fundamentals of the underlying businesses.”

Placer Dome Incorporated History: 1910-2002 – by International Directory of Company Histories

September 29, 2011September 17, 2011

For a large selection of corporate histories click: International Directory of Company Histories

Company History: (Please Note that Placer Dome was taken over by Barrick Gold in 2006)

Placer Dome Inc., the fifth largest gold mining company in the world, produces approximately 3.5 million ounces of gold annually. Based in Vancouver, British Columbia, the company also mines silver and copper and has interests in 18 mines, many outside of Canada, in countries including South Africa, Australia, the United States, and Papua New Guinea. A leader in mine exploration, Placer Dome spent about $60 million in 2003 on exploration.

The Creation of a New Company

Placer Dome Inc. was formed in 1987 by the amalgamation of three Canadian mining companies, creating the largest gold producer in North America with an annual output of more than 800,000 ounces of gold. Dome Mines Limited, the oldest of the three predecessors and one of Canada’s most venerable gold producers, was incorporated in 1910, following the discovery of the Dome Mine, a hard-rock mine in northern Ontario, which was still producing gold in 1997. The mine and the company got their name from the shape of the gold-studded rock structure a band of prospectors literally stumbled over in 1909.

Placer Development Limited was incorporated in British Columbia in 1926 and made its first earnings during the 1930s, dredging gold from the gravel of a river in Papua New Guinea, then under Australian mandate. “Placer,” which was Spanish for shoal, referred to water-borne deposits of sand or gravel containing particles of gold or silver. Mining that deposit was no easy task.

[Barrick Gold’s] Peter Munk: in conversation – by Kenneth Whyte – Maclean’s Magazine – July 27, 2011

July 29, 2011

Maclean’s is the largest circulation weekly news magazine in Canada, reporting on Canadian issues such as politics, pop culture, and current events.

On immigrant dreams, the importance of failure and why the future belongs to Canada

Peter Munk, the founder and chair of Barrick Gold, the world’s biggest gold miner, found a land of opportunity when he arrived in Canada as a teenager after he fled Nazi-occupied Hungary. But the 83-year-old businessman is convinced the country’s brightest days may still lie ahead. As the appetite for raw materials skyrockets in China, India and other developing countries, he argues that Canada has a rare, once-in-a-lifetime opportunity to establish itself as the world’s next big financial sector, rivalling the dominance of London and New York.

Q: Let’s talk first about your earliest impressions of Canada as an immigrant boy.

A: That day I arrived, it was a miserable, rainy day in early March ’48. It was like, terra incognita, like going to Mars. I know it sounds moronic.

Q: No. It doesn’t.

A: I arrived in Toronto, and I tried to talk to my Uncle Nick in Hungarian, I tried to talk to him in German. The last time I saw him was in 1938 when Grandfather sent him to Canada as a General Motors agent. He was my father’s young brother. When I arrived, Uncle Nick was a part-owner of the Ajax manufactory. He said, “We don’t speak here Hungarian. This is Canada, we speak English.” I took it in school and I never practised except for the five days in England when Dad shoved me on that boat in Liverpool.

Q: Was the idea that you’d come and do a year of high school and then go to university?

A: It was Grade 13, and number one, I never in my life could conceive, never heard, never read, about mixed-sex schools. In Hungary and Switzerland there were girls’ school, and if a guy went near a girls’ school he was in danger to be dismissed, okay?

OMA member Barrick Gold makes multi-million dollar contribution to global health

June 29, 2011

This article was provided by the Ontario Mining Association (OMA), an organization that was established in 1920 to represent the mining industry of the province.

Ontario Mining Association member Barrick Gold and the Family of the late Greg Wilkins, former company president, have donated $5.5 million to advance global health. Toronto General and Western Hospital Foundation will be using this gift to combat brain diseases and improve medical training for surgeons and nurses in developing countries.

Mr. Wilkins was President and Chief Executive Officer at Barrick from 2003 to 2008. He started with the company in 1981 and helped transform it into the world’s largest gold producer. Mr. Wilkins held an executive position with another corporation for several years in the late 1990s up until 2003. He passed away in December 2009 at the age of 53 after losing his battle with cancer.

The donation, which was first announced earlier this year, has several components. They include the Greg Wilkins Chair in International Surgery, which will oversee research and training for doctors and nurses in developing countries. Dr. Mark Bernstein, a neurosurgeon at Toronto Western Hospital, who performed brain surgery on Mr. Wilkins as part of his care team, was appointed to this position last week. Dr. Bernstein has described Mr. Wilkins as “extremely courageous.” Toronto Western Hospital is a world leader in the treatment of and research on diseases of the brain and spinal cord.

NEWS RELEASE: Generous Barrick Gold Gift a Boon to Marathon and Northern Ontario

June 24, 2011

Lakehead University and the Northern Ontario School of Medicine (NOSM) are pleased to accept substantial gifts from Barrick Gold Corporation – Hemlo Mine. The value of the Barrick Gold gift is $150,000, but with matching funds from the Ontario Trust for Student Support (OTSS), the total value of the gift is raised to $235,000. This donation makes a significant contribution to learning and healthcare in Northern Ontario.

The gift will be used to establish an endowed Barrick Gold Graduate Scholarship valued at $100,000, with $50,000 coming from Barrick Gold and $50,000 from matching funds through OTSS. This Scholarship will be awarded to a Lakehead graduate student with financial need who is focused on mining issues with preference given to persons of Aboriginal heritage.

As well, a total of $100,000 will go to support the work of the Northern Ontario School of Medicine. This portion of the gift is made up of a number of components:

• Creation of a $10,000 Learner Suite in Marathon with exam rooms, office and study space, and a Learner/Resident suite;