SEATTLE (Scrap Monster): The recently published report by the World Gold Council (WGC) highlights the role played by its members towards economic and social development of countries and communities in which they operate. It highlights the key contributions by Barrick Gold Corporation in sharing mining benefits. Barrick excelled the industrywide average figures on various performance indicators.
According to the report, 97% of Barrick’s employees and contractors were host country nationals, as compared with 95% by WGC member companies. The company paid $1.8 billion out of the total $7.6 billion reported in taxes, royalties and dividends to host governments. Barrick Gold spent $4.5 billion on goods and services with local and national suppliers. Also, the total economic contributions by the company amounted to $12.1 billion, WGC noted.
The company spent more than $30 million on Covid-related community health support measures during the previous year and prepaid more than $300 million in taxes and royalties. Other support initiatives include supply of food packages and medical supply to local hospitals.
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