Glass Lewis, a global provider of independent research and proxy voting services for investors and corporations, on Wednesday outlined controversies Barrick Gold (ABX.TO) is facing ahead of the miner's May 6 annual meeting.
It noted the company has faced a series of controversies related to its environmental and social impacts at several of its mining operations, notably in Tanzania and Mali. In 2024, it noted, Barrick came under media scrutiny for issues at two majority owned sites: the North Mara gold mine in
Tanzania and the Loulo-Gounkoto Complex in Mali. At the North Mara operation, it also noted, local communities raised serious concerns, accusing the company of human rights violations
Glass Lewis also noted the escalation of tensions at the Loulo-Gounkoto complex in Mali when four mine employees were arrested by authorities reportedly in an effort to pressure the company into increasing tax payments. Operations at Loulo-Gounkoto were subsequently suspended after authorities seized about US$245 million worth of gold.
Barrick traded 0.35% higher at last look to $28.51 on the TSX.
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