Barrick was a fledgling gold-mining company in 1986 looking for opportunities to grow. Late that year, Barrick President Bob Smith visited Nevada to evaluate a small mine along the famed Carlin Trend. He advised the company’s founder, Peter Munk, to buy the property. Barrick paid $62 million for the Goldstrike mine, the company’s first Nevada operation. At the time, management believed it could double the mine’s reserves from 600,000 ounces to 1.2 million. In 2012, Goldstrike produced its 40 millionth ounce of gold, and it’s still going strong today.
Barrick now operates six mines in Nevada and employs more than 7,000 people, making it the sixth-largest employer in the state. The company invested $1.1 billion in goods and services in Nevada in 2013, and more than $4 billion from 2010 through 2013. During that time, Barrick also paid more than $670 million in taxes to the state.
From the beginning, Barrick worked in partnership with its host communities in Nevada to share the benefits of mining. The company has made significant investments in areas like education, health, family welfare, culture, arts and economic development. It has also worked closely with the Western Shoshone indigenous community to help address its needs and challenges.
Over time, Barrick has expanded its engagement to include southern Nevada with an emphasis on educational initiatives. The company has partnered with outstanding non-profit organizations like Communities In Schools, the “I Have A Dream” Foundation and The Public Education Foundation.
In the weeks that follow, we’ll share vignettes and stories about the important work that these non-profits are doing. We’ll also introduce you to some of the Nevada businesses that benefit directly and indirectly from mining, and highlight the many links between these businesses and the non-profits. We’ll take you to Elko, a long-time mining hub in northeast Nevada, to Reno and to Las Vegas and show how mining touches every corner of the state.