05:47:24 EDT Sat 27 Apr 2024
Enter Symbol
or Name
USA
CA



Barrick Gold Corp
Symbol ABX
Shares Issued 1,755,467,937
Close 2023-09-21 C$ 21.61
Market Cap C$ 37,935,662,119
Recent Sedar Documents

Globe says Barrick's North Mara rife with criminality

2023-09-22 08:40 ET - In the News

The Globe and Mail reports in its Friday edition that a subsidiary of Barrick lost as much as $31-million annually at one of its Tanzanian gold mines as a result of organized criminal activities that sometimes involved the local police, an internal report says. The Globe's Geoffrey York writes that the North Mara gold mine in Tanzania was "fully infiltrated" by at least one criminal syndicate that stole millions of dollars in fuel, equipment and high-grade gold-bearing rock, with the collusion of police, the report found. It also warned that there was widespread corruption, fraud and misappropriation in the mine's contracts and land compensation payments. The Globe obtained the internal report after it was cited in a case now under way in the High Court of Justice in London, where Tanzanian villagers are claiming that Barrick co-operated with local police who caused deaths and injuries in the local community -- an allegation that the company denies. The 21-page report was prepared in November, 2017, by a consulting firm for a security contractor at Acacia Mining, the U.K.-based Barrick subsidiary. Barrick took direct control of the mines in 2019. The report's findings were not disclosed in Barrick's annual reports.

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