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Building Value in Everything We Do

Building Value in Everything We Do. The International Economic Forum of the Americas – June 7, 2011 Kelvin Dushnisky, EVP Corporate & Legal Affairs. Global Footprint.

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Building Value in Everything We Do

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  1. Building Value in Everything We Do The International Economic Forum of the Americas – June 7, 2011 Kelvin Dushnisky, EVP Corporate & Legal Affairs

  2. Global Footprint Canadian-based gold industry leader, with interests in 25 operating mines and a pipeline of world-class projects located across five continents  North America Australia Pacific Africa South America Mine Project

  3. Philosophy Barrick is committed to making a positive difference in the communities in which we operate Barrick is listed on the Dow Jones Sustainability World Index and the NASDAQ World’s Top 100 Sustainable Companies

  4. Investing for Sustainability How does Barrick work with governments to extract resources while contributing to sustainable development? • Develop open and positive working relationships with local communities and host governments • Abide by local laws and international codes, standards and obligations (EITI, VPs, IFC Performance Standards) • Be a responsible investor throughout construction and operations - effective CSR practices

  5. ATLANTIC OCEAN C U B A D O M I N I C A N R E P U B L I C 0 miles 100 200 300 400 500 Caribbean Sea H A I T I Pueblo Viejo J A M A I C A Santo Domingo Pueblo Viejo DOMINICAN REPUBLIC • Largest foreign investment in the history of the Dominican Republic – Approximately US$3.3-$3.5B • Generating much needed revenues for the government, 3500 direct jobs (construction) and 1000 direct jobs (operation), environmental and social benefits

  6. Pueblo Viejo DOMINICAN REPUBLIC 6

  7. Working with the Government • Special Lease Agreement • Rights over license area granted to the company (mine, develop, explore) • Stabilization of taxation and payments to government • Ratified by the Dominican National Congress • Municipal Development Plans • Law passed by the Dominican Congress, each municipality must create a development plan • Company facilitated – but the responsibility for development and implementation of the plan rests with the municipal government, not the company

  8. Working with the Government • Environmental Remediation • One of the most ambitious environmental clean-up efforts performed to international standards in recent mining history • SLA set out terms of responsibility for each of the company and the Dominican Government • Barrick’s experts manage the clean-up effort on the Government’s behalf • Initial agreement to split the cost – now Barrick agrees to 100% funding of defined remediation

  9. International Obligations • Extractive Industries Transparency Initiative • Voluntary Principles on Security & Human Rights • OECD Guidelines for Multinational Enterprises • UN Global Compact • ISO 14001 • ICMM Sustainable Development Framework • Global Reporting Initiative • Involvement of Export Credit Agencies and Equator Principles signatory banks ensures compliance with environmental and social best practice • Corporate policies: CSR, Community Relations, Health and Safety, Human Rights, Water and Energy Conservation

  10. Community Relations and CSR Objectives: • Position the Company as a catalyst for sustainable social development • Ensure stakeholder confidence in the project – social license to operate Multi-tiered strategy: • Strong community relations/outreach team • Systematic community engagement • Strategic community projects – NGO involvement • Monitoring and feedback

  11. Strategic Community Projects • Infrastructure • Water pipeline improvements • Road construction & improvement • Sewage improvements • Church renovation project • Rural electrification program • Education • Teacher education program • Strengthening of primary schools • Adult digital literacy programs • Health & Safety • Community Safety Awareness • Oral hygiene & disease prevention • Teen pregnancy prevention

  12. Strategic Community Projects • Productive Development • Greenhouse projects • Fish farming • School orchard, home gardens • Micro-enterprise • Family finance education • Support for community enterprises • Women’s associations strengthening • Community associations strengthening • Donations & Sponsorships • Sports uniforms and equipment • Community events (Teachers’ Day)

  13. Conclusion • Interact early and openly • Be flexible • Let communities lead • Don’t presume to know the answers – work collaboratively to find solutions Thank You

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