Barrick Gold Essay

1992 Words8 Pages
By By [Priyanka Pattekar] [Corporate Social Responsibility] [Weekly EMBA] [Priyanka Pattekar] [Corporate Social Responsibility] [Weekly EMBA] Barrick Gold – A Case Study Barrick Gold – A Case Study Barrick Gold – Case Study Analysis Barrick Gold is one of the world’s leading miners especially in the gold industry. Its vision statement asserts that “it wants to be the world’s best gold company finding, acquiring, developing and producing quality reservers in a safe, profitable and socially responsible manner” This case examines the giant Canadian mining corporation, Barrick Gold Corporation and how it is dealing with community development in the area surrounding its mining activities in Tanzania. Recently there have been organized tensions and criticism from NGOs and the Media The is an example of how Multi-National Companies seek to establish their right of existance in the different countries they operate in and whether they add value to all stakeholders and not just the shareholders Issue and Scope The primary issue identified in the case is how Barrick Gold is dealing with local community and environment especially as it seeks to establish its legitimacy and be seen as a partner to community development. Despite governmental support and a legal claim to mine the area, the local community which has high levels of poverty, government corruption and existing environment degradation feels that the Multinational Companies (MNCs) is extracting Tanzania’s wealth without offering any sustainable value to the community. This has led to clashes between the local communities, Non-For Profit and media against the company. Theft and strict law enforcement (sometimes resulting in death), noise caused by heavy machinery and physical displacement without adequate compensation is further widening the gap and exasperating the issue. As stated in the article
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