Abstract
This case is about a gold mining company that sought to practice “responsible mining” by addressing environmental and stakeholder concerns, but which nevertheless attracted protests. Barrick Gold Corporation invested $4.8 billion developing the Pascua Lama gold mine in a glacial region of South America, but opposition has blocked the project.
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Notes
- 1.
Peter Munk’s comments to Barrick Gold Corporation’s Annual Meeting, April 24, 2013. http://www.gowebcasting.com/events/barrick/2013/04/24/2013-annual-meeting-of-shareholders/play/stream/7102
- 2.
Barrick Gold Corporation Pascua Lama Summary http://www.barrick.com/operations/projects/pascua-lama/default.aspx
- 3.
Julie Gordon, “Barrick shows progress on costs, cuts spending,” Reuters, April 24, 2013.
- 4.
Pav Jordan, “Peter Munk confronts Barrick’s ‘perfect storm,’” Toronto Globe and Mail, April 24, 2013.
- 5.
Barrick, “Pascua Lama FAQs” http://www.barrick.com/operations/projects/pascua-lama/faq/default.aspx
- 6.
Barrick Gold Corporation Annual Report 2012.
- 7.
Historic details summarized from International Directory of Company Histories (2000) – Vol. 34. St. James Press. http://www.fundinguniverse.com/company-histories/barrick-gold-corporation-history/ and Margaret Wente, “Our World Needs More Peter Munks,” Toronto Globe and Mail, June 11, 2011.
- 8.
Margaret Wente, “Our World Needs More Peter Munks,” Toronto Globe and Mail, June 11, 2011
- 9.
Barrick Pascua Lama project description, http://www.barrick.com/operations/projects/pascua-lama/default.aspx
- 10.
Descriptions of the mine site summarized from Barrick’s Pascua Lama FAQs and Catherine Solyom, “More than just costs are a concern at Barrick Gold’s $8.5B Pascua-Lama Megamine,” Montreal Gazette, December 14 2012
- 11.
Barrick Newsletter, Beyond Borders “Training helps fill local skills gap at Pascua-Lama” http://barrickbeyondborders.com/2013/02/training-helps-fill-local-skills-gap-at-pascua-lama/
- 12.
Barrick, “Pascua Lama FAQs” http://www.barrick.com/operations/projects/pascua-lama/faq/default.aspx
- 13.
Barrick’s stakeholder outreach activities summarized from Barrick’s “Pascua Lama FAQs” and “Barrick Pascua-Lama Shareholder Report” prepared by ERM, November 30, 2006
- 14.
Benefits to the community summarized from various Barrick Beyond Borders blog posts 2007–2013 http://barrickbeyondborders.com/ and Catherine Solyom “Clean Capitalism Gets Mixed Results in the Andes,” Montreal Gazette, December 17, 2012.
- 15.
Jimmy Langman, “Pollution: Losing Some Luster; With gold prices skyrocketing, environmentalists are taking aim at one of the world’s dirtiest industries”, Newsweek April 24, 2006.
- 16.
- 17.
Catherine Solyom, “Clean Capitalism Gets Mixed Results in the Andes,” Montreal Gazette, December 17, 2012.
- 18.
Catherine Solyom, “In Arid Chile, Villagers and Farmers Divided over Benefits of Water Fund,” Montreal Gazette, December 17, 2012.
- 19.
Catherine Solyom, “More than just costs are a concern at Barrick Gold’s $8.5B Pascua-Lama Megamine,” Montreal Gazette, December 14 2012.
- 20.
Barrick, “Pascua Lama FAQs” http://www.barrick.com/operations/projects/pascua-lama/faq/default.aspx
- 21.
Barrick Pascua-Lama Chilean Water Management System Fact Sheet.
- 22.
Reuters “Chile environment permit for Barrick mine was flawed –president,” June 6, 2013.
- 23.
Jorge Daniel Taillant, “Barrick’s Glaciers, Technical Report on the Impact by Barrick Gold on Glaciers and Periglacial Environments at Pascua Lama and Veladero,” Center for Human Rights and Environment, 2013.
- 24.
Allison Martell and Euan Rocha “Gold miners face new challenge in plummeting gold price,” Reuters, April 15, 2013.
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Smith, N.C., McCormick, E. (2019). Barrick Gold: A Perfect Storm at Pascua Lama. In: Lenssen, G.G., Smith, N.C. (eds) Managing Sustainable Business. Springer, Dordrecht. https://doi.org/10.1007/978-94-024-1144-7_12
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