Canada Advancing. Together. Economic Investments Report 2015
The Mining Context in Canada $57B 5th 18% 375K Mining sector s contribution to Canada s Gross Domestic Product (2014) Canada s global ranking among gold producers (2015) Number of people employed by the mining industry in Canada (2015) Mining s share of total Canadian good exports (2014) Source: Mining Association of Canada
Barrick in Canada Hemlo Operational since 1985 653 employees and contractors Produced 219,000 ounces of gold (2015) All-In Sustaining Costs = $895/ounce Reserves 1 = 917,000 ounces ISO 14001 and Cyanide Code certified Barrick Head Office Headquartered in Toronto since 1983 164 employees and contractors (2015) AuTec Research and development centre located in Vancouver, British Columbia 25 employees and contractors (2015) Vancouver AuTec C A N A D A U N I T E D S T A T E S Hemlo Toronto Head Office 1: Proven and probable
Barrick s Economic Investment in Canada In Canada, where does this money go? $319M $566M $224M 85% of spending stayed in Canada in 2015 ($566M) $8.6M $3.2M EXPENDITURES In-country Out-of-country Total in 2015 $566 M $103 M $669 M Purchases from Canadian businesses Employee wages & benefits Taxes, royalties to the government Community investments Note: Total in-county spend includes $11.5M in Royalties Paid to Third Parties
Investing in Canadian Business $319M $2B $3.4B Purchases from Canadian businesses Amount Barrick has purchased from local Ontario businesses since 2010 Amount Barrick has purchased from Canadian businesses since 2010 Local, National and International Purchases, 2015 In 2014, the mining industry contributed 3.5 percent to Canada s GDP. $103.4M $33.2M Local Purchases International Purchases $286.0M National Purchases Source: Mining Association of Canada
Our Employees in Canada $224M 94% 842 Employee wages & benefits Percentage of Barrick employees in Canada that are Canadian nationals Number of employees and contractors Barrick employed in Canada in 2015 Annual Payroll, 2015 Those who work in mining enjoy the highest wages and salaries of all industrial sectors in Canada with an average yearly income exceeding CAN$100,000. $56.0M $23.9M $144.1M Wages or Salaries Payroll Taxes Employee Benefits & Taxes Source: Mining Association of Canada, 2015
Taxes and Royalties Paid in Canada $8.6M 53% $256M Taxes, royalties to the government Barrick s effective income tax rate in 2015, an increase from 42% in 2014 Amount Barrick has paid the government in royalties & taxes since 2009 Between 2003-2012, the Canadian mining industry contributed $71 billion in taxes and royalties to Canadian governments. Barrick was the first Canadian mining company to become a signatory to the Extractive Industry Transparency Initiative in 2006. In Canada, we joined our industry peers and civil society organizations to advocate for comprehensive regulations on disclosing payments to governments. The resulting legislation, the Extractive Sector Transparency Measures Act (ESTMA), entered into force on June 1, 2015 and requires extractive companies to publicly disclose all taxes, royalties and other payments to Canadian and foreign governments. Source: Mining Association of Canada
Investing in Canadian Communities $3.2M $30M Community investments Since 2007, Barrick has invested more than $5 million in educational initiatives in Canada Barrick s contribution to local Canadian communities since 2007 In 2015, the mining industry was the largest private sector employer of Aboriginal people in Canada. Barrick s Hemlo mine has agreements in place with Pic Mobert and Biigtigong Nishnaabeg First Nations. These provide a foundation of positive working relationships, including on information sharing, environmental impacts, training and employment. In 2015, Hemlo also signed a memorandum of understanding with the Métis Nation of Ontario to support a productive and ongoing relationship between the two parties. Source: Mining Association of Canada
Canada Advancing. Together. Economic Investments Report 2015