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Company > Barrick Gold Corp: Business Model, SWOT Analysis, and Competitors 2023

Barrick Gold Corp: Business Model, SWOT Analysis, and Competitors 2023

Published: Jun 19, 2023

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    In this blog article, we will delve into the business model, SWOT analysis, and competitors of Barrick Gold Corp, a leading player in the mining industry. As we explore the company's business model, we will gain insights into its strategies and operations that have contributed to its success. Additionally, a SWOT analysis will shed light on the company's strengths, weaknesses, opportunities, and threats, enabling a comprehensive understanding of its position in the market. Finally, we will examine the key competitors of Barrick Gold Corp, providing a holistic view of the industry landscape in 2023.

    What You Will Learn:

    • Who owns Barrick Gold Corp and the significance of their ownership in the company.
    • The mission statement of Barrick Gold Corp and how it guides their business operations.
    • The various ways in which Barrick Gold Corp generates revenue and makes money.
    • An explanation of the Business Model Canvas used by Barrick Gold Corp to outline their key activities, resources, and value proposition.
    • The main competitors of Barrick Gold Corp and their positioning in the industry.
    • An overview of the SWOT analysis conducted on Barrick Gold Corp, highlighting its strengths, weaknesses, opportunities, and threats.

    Who owns Barrick Gold Corp?

    Ownership Structure

    Barrick Gold Corp, one of the world's largest gold mining companies, has a diverse ownership structure. The ownership of the company is divided among various institutional investors, mutual funds, individual shareholders, and the company's management. Let's take a closer look at the key stakeholders:

    Institutional Investors

    Institutional investors, such as pension funds, insurance companies, and asset management firms, play a significant role in owning Barrick Gold Corp. These investors often acquire substantial stakes in the company due to their large investment portfolios. Some notable institutional investors that hold shares in Barrick Gold Corp include BlackRock, Vanguard Group, and State Street Corporation.

    Mutual Funds

    Mutual funds also contribute to the ownership of Barrick Gold Corp. These funds pool money from multiple investors to invest in a diversified portfolio of securities, including stocks like Barrick Gold Corp. Examples of mutual funds that hold shares in the company are Fidelity Investments, T. Rowe Price, and Capital Group's American Funds.

    Individual Shareholders

    Individual shareholders, including retail investors, also hold a portion of Barrick Gold Corp's ownership. These shareholders are individuals who purchase company shares through brokerage accounts or other investment platforms. They can range from small individual investors to high-net-worth individuals who have a keen interest in the gold mining industry.

    Management

    The management team and executives of Barrick Gold Corp also own a significant stake in the company. This ownership aligns their interests with those of the shareholders, as they have a vested interest in the success and profitability of the company. Their ownership stake can provide additional motivation for effective management and decision-making.

    Conclusion

    Barrick Gold Corp has a diverse ownership structure, with institutional investors, mutual funds, individual shareholders, and the management team all holding ownership stakes in the company. This broad ownership base reflects the widespread interest in investing in the gold mining sector and demonstrates the trust and confidence placed in Barrick Gold Corp as a leading player in the industry.

    What is the mission statement of Barrick Gold Corp?

    The Mission Statement of Barrick Gold Corp

    Barrick Gold Corp, one of the largest gold mining companies in the world, has a clear and concise mission statement that guides its actions and decisions. The mission statement of Barrick Gold Corp can be summarized as follows:

    "Creating value and improving lives through sustainable and responsible mining."

    This mission statement reflects the company's commitment to not only generating financial value but also ensuring that its operations have a positive impact on the communities and environments in which it operates. Let's delve deeper into each element of Barrick Gold Corp's mission statement:

    Creating Value

    Creating value is at the core of Barrick Gold Corp's mission. As a mining company, it strives to generate economic value for its shareholders, employees, and stakeholders by efficiently extracting and producing gold and other precious metals. Barrick Gold Corp aims to achieve this by optimizing its mining operations, improving productivity, and adopting innovative technologies to maximize output while minimizing costs.

    Improving Lives

    Barrick Gold Corp recognizes that its operations have a significant impact on the communities surrounding its mines. The company is committed to improving lives by investing in social programs, infrastructure development, education, and healthcare. It aims to create sustainable benefits for local communities and foster long-term relationships based on trust, respect, and collaboration.

    Sustainable and Responsible Mining

    Environmental stewardship is a key aspect of Barrick Gold Corp's mission statement. The company recognizes the importance of responsible mining practices to minimize the impact on ecosystems, water resources, and biodiversity. Barrick Gold Corp is dedicated to reducing its carbon footprint, managing waste responsibly, and rehabilitating mine sites to restore them to their natural state once mining operations have ceased. By embracing sustainable practices, the company aims to ensure the longevity of its operations and contribute to a more sustainable future.

    In conclusion, Barrick Gold Corp's mission statement encapsulates its commitment to creating value for its stakeholders, improving the lives of surrounding communities, and conducting mining operations in a sustainable and responsible manner. By adhering to this mission, Barrick Gold Corp strives to be a leader in the mining industry, setting an example for responsible resource extraction and making a positive impact on both the economy and society.

    How does Barrick Gold Corp make money?

    Gold production and sales

    One of the primary ways Barrick Gold Corp generates revenue is through the production and sale of gold. As one of the largest gold mining companies in the world, Barrick operates numerous mines globally, extracting gold from the earth. These mines are strategically located in regions known for their rich gold deposits, such as Nevada in the United States, as well as countries like Canada, Argentina, and Australia.

    Once the gold is extracted, Barrick engages in various processing techniques to refine it into a marketable form. This refined gold is then sold to customers, including jewelry makers, central banks, and other entities involved in the production of gold-related products. The price at which Barrick sells gold is influenced by global gold prices, which are subject to market demand and supply dynamics.

    Copper production

    In addition to gold, Barrick Gold Corp also generates revenue through the production and sale of copper. This diversification into copper mining allows the company to leverage its existing infrastructure and expertise in mining operations. Barrick owns and operates several copper mines, primarily located in South America, including the Zaldivar mine in Chile and the Lumwana mine in Zambia.

    Copper is a crucial metal widely used in industries such as construction, electronics, and telecommunications. Barrick extracts copper ore from its mines, processes it using state-of-the-art techniques, and sells the refined copper to customers worldwide. Similar to gold, the price of copper is influenced by global market conditions and factors such as economic growth and industrial demand.

    Royalties and investments

    Apart from direct gold and copper production, Barrick Gold Corp also generates revenue through royalties and strategic investments. The company holds a portfolio of royalties on various mining projects worldwide, which entitles Barrick to a percentage of the production or revenue generated from those projects. These royalties provide a steady stream of income for Barrick, even if the company is not directly involved in the mining operations.

    Furthermore, Barrick strategically invests in other mining companies or projects. By acquiring stakes in promising mining ventures, Barrick can benefit from the success and growth of those projects. This approach allows Barrick to diversify its revenue streams and potentially capitalize on emerging opportunities in the mining industry.

    Stream arrangements

    Stream arrangements are another source of revenue for Barrick Gold Corp. In these arrangements, Barrick sells a portion of its future gold or silver production to streaming companies in exchange for upfront cash payments. The streaming companies then have the right to purchase the agreed-upon amount of precious metals at a predetermined price, usually below the market value.

    Stream arrangements provide Barrick with immediate cash inflows, which can be used to finance its operations, invest in new projects, or reduce debt. These arrangements also help to mitigate the risks associated with fluctuating gold and silver prices, as Barrick receives a guaranteed price for the metals it will produce in the future.

    In summary, Barrick Gold Corp generates revenue through gold and copper production and sales, royalties, strategic investments, and stream arrangements. These diverse income streams allow the company to navigate market fluctuations and maintain its position as a leading player in the global mining industry.

    Barrick Gold Corp Business Model Canvas Explained

    Introduction

    The Business Model Canvas is a strategic management tool that allows organizations to visualize, analyze, and develop their business models. In this blog post, we will explore and explain the Business Model Canvas of Barrick Gold Corp, one of the largest gold mining companies in the world.

    Key Partnerships

    Barrick Gold Corp understands the importance of strong partnerships in the mining industry. The company collaborates with various stakeholders to ensure efficient operations and sustainable growth. Key partnerships include:

    1. Government Authorities: Barrick Gold Corp works closely with government entities in the countries where it operates to ensure compliance with regulations and obtain necessary permits and licenses.

    2. Suppliers: The company relies on a network of suppliers for equipment, machinery, and other resources required for mining operations. Strong relationships with reliable suppliers are crucial to ensure uninterrupted production.

    3. Local Communities: Barrick Gold Corp recognizes the significance of maintaining positive relationships with local communities. It engages in community development initiatives, provides employment opportunities, and supports local businesses to foster social and economic growth in the regions it operates.

    Key Activities

    Barrick Gold Corp engages in a range of key activities to maintain its position as a leading gold mining company. These activities include:

    1. Exploration and Mining: The company invests heavily in exploration activities to identify potential gold reserves. Once identified, it deploys mining operations using advanced techniques to extract gold from the deposits.

    2. Production and Processing: Barrick Gold Corp focuses on optimizing its production processes to ensure efficient extraction and processing of gold ore. This includes the use of advanced technologies and best practices to maximize gold recovery rates.

    3. Environmental Management: As an environmentally responsible organization, Barrick Gold Corp prioritizes sustainable mining practices. It invests in environmental management systems, reclamation projects, and initiatives to minimize the impact of its operations on the environment.

    Key Resources

    To successfully execute its activities, Barrick Gold Corp relies on various key resources, including:

    1. Gold Reserves: The company's most valuable resource is its gold reserves. These reserves act as the foundation of its business model, providing the raw material for production and generating revenue.

    2. Technology and Equipment: Barrick Gold Corp leverages advanced technologies and equipment to optimize mining operations. This includes state-of-the-art machinery, data analytics tools, and automation systems to improve efficiency and productivity.

    3. Skilled Workforce: The company recognizes the importance of a skilled workforce and invests in recruiting and retaining talented professionals. It provides training and development programs to ensure employees possess the necessary expertise to drive successful mining operations.

    Value Proposition

    Barrick Gold Corp's value proposition revolves around its ability to deliver high-quality gold products while maintaining sustainable practices. The company emphasizes:

    1. Reliability and Consistency: Barrick Gold Corp consistently delivers gold of superior quality, meeting industry standards and customer expectations. Its reputation for reliability in the market strengthens its value proposition.

    2. Social and Environmental Responsibility: The company strives to minimize its environmental impact and actively engages in community development programs. This commitment to sustainability resonates with stakeholders and enhances its overall value proposition.

    Conclusion

    Understanding the Business Model Canvas of Barrick Gold Corp sheds light on the various elements that contribute to the company's success. Through strong partnerships, key activities, and valuable resources, Barrick Gold Corp demonstrates its commitment to responsible mining practices while delivering value to its stakeholders.

    Which companies are the competitors of Barrick Gold Corp?

    Introduction

    Barrick Gold Corp. is a renowned multinational mining company primarily engaged in the exploration, development, and production of gold and copper. As a key player in the industry, it faces competition from several other companies that operate in the same sector. In this section, we will explore some of the major competitors of Barrick Gold Corp. and highlight their key attributes and market presence.

    Newmont Corporation

    One of the primary competitors of Barrick Gold Corp. is Newmont Corporation. Newmont is the world's leading gold producer and has a significant presence in the mining industry. With operations in multiple countries, including the United States, Australia, Ghana, and Peru, Newmont boasts a diverse portfolio of mines and projects.

    Newmont's competitive advantage lies in its extensive experience, operational excellence, and strong financial performance. The company has a track record of delivering consistent returns to its shareholders and has a strong focus on sustainable mining practices. With its robust exploration and development pipeline, Newmont continues to expand its resource base and maintain its position as a formidable competitor to Barrick Gold Corp.

    AngloGold Ashanti

    AngloGold Ashanti is another notable competitor of Barrick Gold Corp. and is one of the largest gold mining companies globally. With its headquarters in South Africa, AngloGold Ashanti operates across various continents, including Africa, the Americas, and Australia. The company has a diverse portfolio of mines and projects, with a focus on both gold and other precious metals.

    AngloGold Ashanti's competitive advantage lies in its extensive mineral reserves, advanced technology, and efficient mining operations. The company has a dedicated exploration program to continuously replenish its resource base and sustain long-term growth. With its strong financial position and commitment to responsible mining practices, AngloGold Ashanti poses a significant challenge to Barrick Gold Corp.'s market share.

    Newcrest Mining Limited

    Newcrest Mining Limited, based in Australia, is another prominent competitor of Barrick Gold Corp. The company is one of the world's largest gold producers and has a diversified portfolio of mines in Australia, Papua New Guinea, and Indonesia. Newcrest Mining Limited has a strong focus on exploration and development, aiming to increase its resources and reserves.

    The competitive advantage of Newcrest Mining Limited lies in its technical expertise, operational efficiency, and commitment to sustainable mining practices. The company has a strong track record of operational excellence and has implemented innovative technologies to enhance productivity and reduce costs. With its strategic investments and partnerships, Newcrest Mining Limited is positioned as a formidable competitor to Barrick Gold Corp. in the global gold mining industry.

    Conclusion

    Barrick Gold Corp. faces tough competition from various companies operating in the gold mining industry. Competitors such as Newmont Corporation, AngloGold Ashanti, and Newcrest Mining Limited have established themselves as leaders in the sector, leveraging their operational excellence, financial strength, and commitment to sustainable practices. As the industry continues to evolve, these competitors pose significant challenges to Barrick Gold Corp.'s market share, driving the company to continually innovate and adapt to maintain its competitive edge.

    Barrick Gold Corp SWOT Analysis

    Strengths

    • Strong global presence: Barrick Gold Corp is one of the largest gold mining companies in the world, with operations in multiple countries. Its global presence provides the company with a diversified portfolio of assets and access to various markets.

    • Robust financial performance: Barrick Gold Corp has consistently demonstrated strong financial performance. The company has a solid track record of generating significant revenue and profits, driven by its efficient mining operations and effective cost management strategies.

    • Strong management team: Barrick Gold Corp is led by a competent and experienced management team. The team has a deep understanding of the mining industry and has successfully navigated through various market cycles, ensuring the company's long-term success.

    Weaknesses

    • Exposure to geopolitical risks: As a global mining company, Barrick Gold Corp is exposed to geopolitical risks, including changes in government regulations, political instability, and conflicts. These risks can impact the company's operations and profitability, as seen in the past with disruptions in certain regions.

    • Environmental concerns: The mining industry, including Barrick Gold Corp, faces increasing scrutiny and pressure to address environmental concerns. The company has faced criticisms in the past for its environmental practices, which can negatively impact its reputation and relationships with stakeholders.

    • Reliance on gold prices: Barrick Gold Corp's profitability is heavily dependent on gold prices. Fluctuations in gold prices can significantly impact the company's financial performance, making it vulnerable to market volatility.

    Opportunities

    • Growing demand for gold: The demand for gold has been steadily increasing, driven by various factors such as economic uncertainties, inflation concerns, and investment diversification. Barrick Gold Corp can capitalize on this opportunity by increasing its production and expanding its market presence.

    • Exploration and acquisition opportunities: Barrick Gold Corp can explore new mining opportunities and acquire strategic assets to further strengthen its portfolio. By identifying and developing new reserves, the company can ensure a sustainable supply of gold and enhance its long-term growth prospects.

    • Renewable energy adoption: The global shift towards renewable energy presents an opportunity for Barrick Gold Corp to reduce its environmental footprint. By investing in renewable energy sources, such as solar or wind power, the company can not only improve its environmental performance but also reduce its operational costs.

    Threats

    • Volatility in gold prices: The price of gold is subject to significant fluctuations, influenced by various factors such as economic conditions, interest rates, and geopolitical events. These fluctuations pose a threat to Barrick Gold Corp's profitability and financial performance.

    • Increasing competition: The gold mining industry is highly competitive, with several major players and numerous smaller companies vying for market share. Barrick Gold Corp faces competition from both established mining companies and new entrants, which can impact its market position and profitability.

    • Regulatory and compliance challenges: The mining industry is subject to stringent regulations and compliance requirements. Barrick Gold Corp must navigate through complex regulatory frameworks and ensure compliance with environmental, health, and safety standards. Non-compliance can result in legal and reputational risks for the company.

    Key Takeaways

    • Barrick Gold Corp is owned by a diverse range of institutional investors and individual shareholders.

    • The mission statement of Barrick Gold Corp is to be the world's most valued gold mining business by finding, developing, and producing quality reserves in a safe, profitable, and socially responsible manner.

    • Barrick Gold Corp primarily makes money through gold production and sales, as well as through the sale of other minerals like copper and silver.

    • The Business Model Canvas of Barrick Gold Corp encompasses key elements such as key partners, key activities, value proposition, customer segments, channels, cost structure, and revenue streams.

    • Barrick Gold Corp faces competition from other major mining companies in the industry, including Newmont Corporation, AngloGold Ashanti, Goldcorp, and Kinross Gold Corporation.

    • In terms of SWOT analysis, Barrick Gold Corp has strengths such as its global presence, a strong project pipeline, and a diversified mineral portfolio. However, it also faces weaknesses like environmental concerns and geopolitical risks. Opportunities for the company include increasing demand for gold and potential acquisitions, while threats include fluctuations in gold prices and regulatory challenges.

    Conclusion

    In conclusion, Barrick Gold Corp is a leading mining company in the gold industry. It is owned by various institutional and individual investors, with no single majority owner. The mission statement of Barrick Gold Corp is to be the world's most valued gold mining business by finding, developing, and owning the best assets, with the best people, to deliver sustainable returns.

    Barrick Gold Corp generates revenue primarily through the production and sale of gold and other minerals. They have a diversified portfolio of mines located in various countries, which allows them to mitigate risks and maximize profits. Additionally, the company also earns income through its investments and partnerships in other mining projects.

    The Business Model Canvas of Barrick Gold Corp provides a comprehensive overview of its key activities, resources, and value proposition. It encompasses all aspects of the company's operations, from exploration and mine development to efficient production and strong stakeholder relationships. By leveraging their expertise and operational excellence, Barrick Gold Corp aims to create long-term value for its shareholders.

    As for competitors, Barrick Gold Corp faces competition from other major gold mining companies such as Newmont Corporation, AngloGold Ashanti, and Kinross Gold Corporation. These companies also operate globally and strive to maximize their gold production and profitability. The industry is highly competitive, and Barrick Gold Corp must continuously innovate and optimize its operations to maintain its position in the market.

    Lastly, conducting a SWOT analysis of Barrick Gold Corp reveals its strengths, weaknesses, opportunities, and threats. The company's strengths include its extensive experience, global presence, and strong financial position. However, it also faces challenges such as environmental and social risks, as well as geopolitical uncertainties. Despite these challenges, Barrick Gold Corp has opportunities to expand its operations, invest in exploration, and pursue strategic partnerships. It must also be aware of potential threats such as fluctuating gold prices and regulatory changes. By capitalizing on its strengths and addressing its weaknesses, Barrick Gold Corp can navigate the industry successfully and achieve its mission of sustainable growth and returns.

    FAQs

    What is the competitive advantage of Barrick Gold?

    Barrick Gold, one of the largest gold mining companies in the world, has several competitive advantages that contribute to its success in the industry:

    1. Size and Scale: Barrick Gold's large scale operations and extensive global footprint provide it with significant advantages. The company operates mines across several continents, allowing it to diversify its production and reduce geopolitical risks. Its size also enables economies of scale, which lead to lower production costs and higher profitability.

    2. Strong Financial Position: Barrick Gold has a strong financial position, which provides it with a competitive advantage. The company has a solid balance sheet and access to capital, allowing it to invest in exploration, development, and acquisitions to sustain and grow its production. This financial strength also provides stability during market downturns and allows the company to weather price fluctuations.

    3. High-Quality Assets: Barrick Gold owns and operates some of the highest-quality gold mines globally. These mines have significant reserves and resources, allowing the company to maintain long-term production levels. High-grade ore deposits result in higher gold recovery rates and lower production costs, enhancing profitability.

    4. Operational Excellence: Barrick Gold has a strong focus on operational excellence, which includes efficient mining practices, effective cost management, and continuous improvement initiatives. The company employs advanced technologies and best practices to optimize its operations, resulting in higher productivity, lower costs, and improved profitability.

    5. Sustainable Mining Practices: Barrick Gold is committed to responsible and sustainable mining practices. The company focuses on environmental stewardship, social responsibility, and community engagement. This commitment enhances its reputation and relationships with stakeholders, including governments, local communities, and investors.

    6. Strong Management Team: Barrick Gold has a seasoned and experienced management team with deep industry knowledge. The team's expertise in exploration, development, and operations allows the company to make strategic decisions and seize opportunities effectively.

    Overall, Barrick Gold's competitive advantages lie in its size and scale, strong financial position, high-quality assets, operational excellence, sustainable practices, and a strong management team. These factors contribute to its ability to generate value, deliver consistent production, and outperform its peers in the gold mining industry.

    What is the Barrick Gold controversy?

    The Barrick Gold controversy refers to a series of controversies and criticisms surrounding the Canadian mining company Barrick Gold Corporation. Some of the major controversies include:

    1. Environmental Concerns: Barrick Gold has faced numerous allegations of environmental damage and pollution caused by its mining operations. For instance, the company has been accused of contaminating water sources, destroying habitats, and disregarding environmental regulations.

    2. Human Rights Violations: Barrick Gold has been accused of human rights abuses in relation to its mining operations. One prominent case is the alleged involvement of the company's security personnel in the gang rape of women near the Porgera mine in Papua New Guinea. There have also been reports of forced evictions, violence against local communities, and disregard for indigenous rights.

    3. Indigenous Rights: The company has faced criticism for its treatment of indigenous communities on the lands where it operates. Barrick Gold has been accused of disregarding the rights and interests of indigenous people, including their right to free, prior, and informed consent regarding mining activities on their ancestral lands.

    4. Tax Avoidance: Barrick Gold has been accused of engaging in aggressive tax planning strategies to minimize its tax liabilities in countries where it operates. Critics argue that this deprives host countries of potential tax revenues that could be used for social development and public services.

    5. Corporate Governance: Barrick Gold has faced controversies related to its corporate governance practices. This includes concerns over executive compensation, lack of transparency in financial reporting, and allegations of corruption.

    It is important to note that Barrick Gold has taken steps to address some of these controversies, including implementing environmental and social responsibility frameworks, engaging in community development initiatives, and establishing grievance mechanisms. However, the company continues to face criticism and scrutiny regarding its practices.

    Is Barrick Gold Corporation a good investment?

    As an AI language model, I cannot provide real-time financial advice. However, I can provide you with some general information that might help you make an informed decision.

    Barrick Gold Corporation is one of the largest gold mining companies globally, and investing in gold can be seen as a way to diversify a portfolio and hedge against economic uncertainties. Gold is often considered a safe-haven asset, as its value tends to rise during times of market volatility or inflation.

    However, investing in any company, including Barrick Gold, requires careful analysis of various factors, such as financial health, management team, industry trends, and risk tolerance. Some key points to consider when evaluating Barrick Gold Corporation or any mining company are:

    1. Gold prices: The company's profitability is heavily influenced by gold prices. Therefore, understanding and forecasting gold price trends is crucial.

    2. Production and costs: Examining Barrick Gold's production levels, costs, and efficiency can provide insights into the company's ability to generate profits.

    3. Geopolitical and environmental risks: Mining companies can face challenges related to political stability, legal regulations, and environmental impacts. Evaluating these risks is essential.

    4. Financial health: Analyzing the company's balance sheet, debt levels, and cash flow can give you an idea of its financial stability.

    5. Competition: Assessing Barrick Gold's competitive position within the industry and its ability to adapt to changing market conditions is important.

    It's advisable to consult with a financial advisor or conduct further research to make an informed investment decision based on your individual circumstances and risk tolerance.

    What is Barrick Mining controversy?

    The Barrick Mining controversy refers to a series of controversies and criticisms surrounding Barrick Gold Corporation, one of the largest gold mining companies in the world. Some key controversies include:

    1. Environmental Impact: Barrick has faced allegations of environmental damage and pollution associated with its mining operations. In Papua New Guinea, the company faced criticism for the dumping of toxic waste into rivers, leading to water contamination and health issues for local communities.

    2. Human Rights Violations: Barrick has been accused of human rights abuses in relation to its mining operations. In Tanzania, the company faced allegations of forced evictions, violence, and sexual assault by security personnel against local villagers near its North Mara mine.

    3. Indigenous Rights: The company has faced criticism for its treatment of indigenous communities affected by its mining activities. In Australia, Barrick's operation of the Lake Cowal gold mine on Wiradjuri lands has been met with opposition from indigenous groups who claim that their cultural heritage and sacred sites are being destroyed.

    4. Tax Evasion: Barrick has also faced criticism for its tax practices. The company has been accused of using offshore tax havens to avoid paying taxes on its profits in various countries where it operates, including Tanzania and Peru.

    These controversies have sparked public outrage, protests, and legal actions against Barrick, leading to a tarnished reputation for the company in terms of environmental and social responsibility.

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