Canadian company Barrick Mining Corporation announced it recalibrated its GHG emissions profile and reduction roadmap to align with its expanding production base and increased its renewable energy footprint to support its net zero by 2050 target.
In 2024, Barrick announced that major solar and hydro investments are currently underway at locations in Pakistan, Argentina and the DRC.
The company lowered its emissions by 10% in 2024 against a 2018 baseline and installed over 680 MW of renewable and cleaner energy generation in 2023.
This year Barrick introduced a new site-level Sustainable Development Goal (SDG) performance framework, setting a benchmark for transparent, community-focused progress. This framework tracks site-level development across indicators such as clean water, education and healthcare, reflecting Barrick’s commitment to measurable impact in line with the United Nations SDGs.
In North America, Nevada Gold Mines (NGM) is driving low-carbon energy and fleet electrification with the 200MW TS Solar Plant now in commercial production. Alongside solar, fleet electrification is advancing, with 42 Ford Lightning EVs deployed in 2023 and 50 more in 2024 across key sites supported by expanded charging infrastructure. This transition continued in 2024, with 50 more Lightning trucks deployed at Turquoise Ridge, Phoenix, and the TS Power Plant, alongside additional charging stations. These electric vehicles (EVs) not only reduce GHG emissions but also enhance operational efficiency, lower maintenance costs and improve reliability.
As released in its 2024 Sustainability Report, each year, Barrick’s procurement team works to increase the proportion of suppliers providing direct emissions data, improving accuracy and reducing reliance on estimates. In 2024, the focus was on over 135 priority suppliers, which represented over 50% of spend in selected sub-categories. While only 21% of these suppliers responded with emissions data, they accounted for 51% of the total spend covered in the outreach, exceeding an internal goal to secure emissions data for at least $1 billion worth of procurement.
“We’re not buying our growth — we’re building it,” said group sustainability executive Grant Beringer in a statement. “That means we’re adding new emissions, not inheriting existing ones. Our forecast has been updated to transparently reflect this, and we continue to invest in renewables, energy efficiency and supplier engagement to ensure we scale with discipline. Our 2050 Net Zero commitment remains firm – while our medium-term emissions targets are still aligned with our original principles, albeit linked to emissions intensity reductions, in line with our evolving production profile.”