111-799: Barrick Gold Corporation is a mining company that produces gold and copper with 16 operating sites in 13 countries. It is headquartered in Toronto, Ontario , Canada . It has mining operations in Argentina , Canada , Chile , Côte d'Ivoire , Democratic Republic of the Congo , Dominican Republic , Mali , Papua New Guinea , Saudi Arabia , Tanzania , the United States and Zambia . In 2023, it produced 4.05 million ounces of gold at all-in sustaining costs of $ 1,335/ounce and 420 million pounds of copper at all-in sustaining costs of $ 3.21/pound. As of 31 December 2023,
222-529: A "seemingly abusive" strategic lawsuit against public participation . Despite the Québec ruling, a book "Noir Canada" documenting the relationship between Canadian mining corporations, armed conflict, and political actors in Africa was never published as part of a settlement which, according to the authors, was only made for the sole purpose of resolving the three-and-a-half-year legal battle. In 2011, Human Rights Watch ,
333-547: A New York City-based international non-governmental organization that conducts research on human rights, found a pattern of abuses perpetrated by private and public law-enforcement personnel in 2009 and 2010 in the Porgera Gold Mine in Papua New Guinea. Human Rights Watch says that violent insecurity is a “chronic problem” around Porgera due to people engaging in illegal mining and continuously raiding various areas of
444-716: A capital. In 1787, the British Lord Dorchester arranged for the Toronto Purchase with the Mississaugas of the New Credit First Nation, thereby securing more than a quarter of a million acres (1000 km ) of land in the Toronto area. Dorchester intended the location to be named Toronto. The first 25 years after the Toronto purchase were quiet, although "there were occasional independent fur traders" present in
555-633: A channel to the harbour. The peninsula was formed by longshore drift taking the sediments deposited along the Scarborough Bluffs shore and transporting them to the Islands area. The other source of sediment for the Port Lands wetland and the peninsula was the deposition of the Don River, which carved a wide valley through the sedimentary land of Toronto and deposited it in the shallow harbour. The harbour and
666-510: A couple major transactions; first it acquired the Jabal Sayid copper-gold-silver project 350 km from Jeddah, Saudi Arabia, capable of producing 2.6 million tons of ore per year starting in 2012. In February it launched a $ 4.8 billion hostile takeover bid for copper producer Lundin Mining, at the same time Lundin was attempting its own takeover ($ 9 billion Inmet Mining merger which would result in
777-514: A fine of $ 9.8 million was levied. Authorities in San Juan province responded with plans to re-engineer some operational and environmental processes at the mine, which were audited by local and international experts. The National Observer obtained court documents with allegations from a former employee that his employment was terminated soon after concerns were raised about health and safety and environmental practices in 2014. A U.S. class-action lawsuit
888-415: A history of dismissing gold as an attractive investment, saying a fine business run by good managers with cash flows and paying dividends is more productive than the precious metal. Buffett has previously said owning shares of quality companies is more valuable than owning gold itself. Buffett later sold his entire stake in the company in 2021. Environmental and human rights violations have taken place around
999-695: A long-term scholarship program, allocated at the Tribes' discretion. A former tribal chairman of the Duck Valley Shoshone spoke of the company as "a pretty progressive entity." In British Columbia the Tahltan Nation has thanked the company for encouraging local sustainable development while operating the Eskay Creek mine from 2001 to 2008. Toronto, Ontario Toronto is the most populous city in Canada and
1110-548: A merger between Equinox and Equinox Resources in January, 2004, and was incorporated the same month as a Canadian company. It began operations in Zambia in 1996. Prior to being acquired by Equinox in 1999 at least 10 different companies failed in their attempts to develop the Lumwana project, which covers 2 major copper mines and 1355 km squared in area. In 2010 Equinox was involved in
1221-498: A mining lease, exploration license and surface rights to restart the Reko Diq copper-gold project, it was announced in March 2022. The project when in production has the potential to be one of the top five gold-copper mines in the world. It has the potential to produce 250,000 ounces of gold and 200,000 tons of copper every year for more than half a century and could be in production by 2027. It
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#17330852974721332-658: A number of mining operations that are now closed or were previously operated by a different company, including violence in Papua New Guinea and Tanzania. Forty people were arrested in Chile following a demonstration against the potential environmental impacts of a mining project that has not been built. Executives of Acacia Mining , which had mining operations in Tanzania and was acquired in 2019, had faced charges of bribery, conspiracy, forgery, money-laundering, tax-evasion and environmental damage. There has also been small groups of opposition in
1443-579: A ravine or valley and continue on the other side. Toronto has many bridges spanning the ravines. Large bridges such as the Prince Edward Viaduct were built to span broad river valleys. Despite its deep ravines, Toronto is not remarkably hilly, but its elevation does increase steadily away from the lake. Elevation differences range from 76.5 metres (251 ft) above sea level at the Lake Ontario shore to 209 m (686 ft) above sea level near
1554-596: A remediation program that was set up in 2012 but was later criticized as other victims who took legal action instead of participating in the remediation program received higher compensation after reportedly settling out of court for a sum that was higher than offered in the remediation program. Soon after the Human Rights Watch 2011 publication, the mine, which was owned jointly by Barrick, Zijin Mining Group of China , and local landowners through Mineral Resources Enga,
1665-639: A ruling in the United States District Court for the District of Nevada , which denied the bid to block the project. The Appeals Court "upheld a federal judge's finding that opponents of the mine failed to prove they were likely to prevail on claims the mine would cause visual harm to Mount Tenabo and create a substantial burden on the tribes' ability to exercise their religion" but ruled the U.S. Bureau of Land Management's previous environmental review of water and air pollution impacts "was inadequate under
1776-576: A separate company to hold its assets in Tanzania, called African Barrick Gold . Barrick Gold would retain majority ownership in the new company, after its listing on the London Stock Exchange (LSE). African Barrick Gold was listed on the London Stock Exchange in mid-March 2010, with an IPO valuation at US$ 3.6 billion. The shares offered on the LSE raised just more than 500 million pounds. In June
1887-593: A statement saying they 'intend to show the complete manuscript to Barrick prior to the book's release, to allow Barrick the opportunity to "correct" any "falsehoods" about how they conduct their business affairs, worldwide, that they feel it may contain.'" A 2011 decision in Quebec Superior Court had ruled that Barrick Gold had to pay $ 143,000 to authors Alain Deneault, Delphine Abadie, William Sacher, and publisher Les Éditions Écosociété Inc to prepare their defense in
1998-502: A way that would not be allowed under the water quality expectations of a developed country. The Porgera Joint Venture is one of three large mines that dispose of tailings in this way in the country. In February 2021, Barrick Gold announced it would sell its Lagunas Norte mine in Peru. The mine is sold to Boroo Pte Ltd. for up to US$ 81 million. The BBC reported in September 2012 that one person
2109-454: Is a prominent centre for music, theatre, motion picture production, and television production, and is home to the headquarters of Canada's major national broadcast networks and media outlets . Its varied cultural institutions , which include numerous museums and galleries , festivals and public events , entertainment districts, national historic sites , and sports activities , attract over 43 million tourists each year. Toronto
2220-509: Is its escarpments. During the last ice age , the lower part of Toronto was beneath Glacial Lake Iroquois . Today, a series of escarpments mark the lake's former boundary, known as the "Iroquois Shoreline". The escarpments are most prominent from Victoria Park Avenue to the mouth of Highland Creek , where they form the Scarborough Bluffs . Other observable sections include the area near St. Clair Avenue West between Bathurst Street and
2331-660: Is known for its many skyscrapers and high-rise buildings , in particular the CN Tower , the tallest freestanding structure on land outside of Asia. The city is home to the Toronto Stock Exchange , the headquarters of Canada's five largest banks , and the headquarters of many large Canadian and multinational corporations. Its economy is highly diversified with strengths in technology, design, financial services, life sciences, education, arts, fashion, aerospace, environmental innovation, food services, and tourism. Toronto
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#17330852974722442-579: Is now a museum. The pre-amalgamation City of Toronto covers the downtown core and older neighbourhoods to the east, west, and north. It is the most densely populated part of the city. The Financial District contains the First Canadian Place , Toronto-Dominion Centre , Scotia Plaza , Royal Bank Plaza , Commerce Court and Brookfield Place . This area includes, among others, the neighbourhoods of St. James Town , Garden District , St. Lawrence , Corktown , and Church and Wellesley . From that point,
2553-579: Is one of the most multicultural and cosmopolitan cities in the world. Indigenous peoples have travelled through and inhabited the Toronto area, located on a broad sloping plateau interspersed with rivers, deep ravines, and urban forest , for more than 10,000 years. After the broadly disputed Toronto Purchase , when the Mississauga surrendered the area to the British Crown , the British established
2664-566: Is the third-largest tech hub in North America after Silicon Valley and New York City , and the fastest-growing hub. The word Toronto has been recorded with various spellings in French and English, including Tarento , Tarontha , Taronto , Toranto , Torento , Toronto , and Toronton . The most frequent early spelling, Taronto , referred to 'The Narrows', a channel of water through which Lake Simcoe discharges into Lake Couchiching where
2775-400: The 2026 FIFA World Cup . Toronto covers an area of 630 square kilometres (243 sq mi), with a maximum north–south distance of 21 kilometres (13 mi). It has a maximum east–west distance of 43 km (27 mi), and it has a 46-kilometre (29 mi) long waterfront shoreline, on the northwestern shore of Lake Ontario . The Toronto Islands and Port Lands extend out into
2886-569: The Great Irish Famine ; most of them were Catholic . By 1851, the Irish-born population had become the largest single ethnic group in the city. The Scottish and English population welcomed smaller numbers of Protestant Irish immigrants, some from what is now Northern Ireland, which gave the Orange Order significant and long-lasting influence over Toronto society. Almost every mayor of Toronto
2997-606: The Lumwana Mining Company , but that was bought by Barrick Gold in 2011. Through Liontown Resources Limited and Alturas Minerals Corp., the company has gold and copper-gold exploration interests in Peru and Australia. The Lumwana project which had enough reserves to be productive for 37 years, cost the company one billion dollars to develop. In Zambia it has been credited with supporting social development through projects which aim to build schools, attract professionals to areas around its mine sites. 2010 copper production
3108-622: The Mississaugas had displaced the Iroquois, who abandoned the Toronto area at the end of the Beaver Wars , with most returning to their homeland in present-day New York state. French traders founded Fort Rouillé in 1750 (the current Exhibition grounds were later developed there), but abandoned it in 1759 during the Seven Years' War . The British defeated the French and their indigenous allies in
3219-690: The National Environmental Policy Act " and ordered the District Court to provide "appropriate" injunctive relief while the Bureau of Land Management conducted further study. In March 2011 the Bureau of Land Management approved a subsequent study on environmental impacts, allowing the mine to operate as originally proposed. In 2008, the company negotiated an agreement with four of five regional Western Shoshone tribes, providing financial resources for education and wellness initiatives, including
3330-505: The New York Stock Exchange from the Toronto Stock Exchange , broadening its exposure to potential investors. Barrick Gold Corporation evolved from a privately held North American oil and gas company, Barrick Resources. After suffering financial losses in oil and gas, founder Peter Munk (1927–2018) decided to refocus the company on gold. Barrick Resources Corporation became a publicly traded company on May 2, 1983, listing on
3441-470: The Toronto Carrying-Place Trail , led to widespread use of the name. The pronunciation of the city is broadly / t ə ˈ r ɒ n t oʊ / tə- RONT -oh , which locals pronounce [təˈɹɒnoʊ] or [ˈtɹɒnoʊ] , leaving the second 't' silent. The site of Toronto lay at the entrance to one of the oldest routes to the northwest, a route known and used by
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3552-468: The Toronto Stock Exchange . In the 1980s, Barrick Gold purchased Goldstrike, which was a rapid success making Barrick one of the biggest gold mining companies globally. Reflecting its identity as a North American producer, distinct from its South African competitors, the company's name was changed to American Barrick Resources in 1986. It was listed on the New York Stock Exchange in February 1987. Its name
3663-589: The York University grounds in the city's north end at the intersection of Keele Street and Steeles Avenue. There are occasional hilly areas; in particular, midtown Toronto , as well as the Silverthorn and Fairbank neighbourhoods, have several sharply sloping hills. Lake Ontario remains occasionally visible from the peaks of these ridges as far north as Eglinton Avenue, 7 to 8 kilometres (4.3 to 5.0 mi) inland. The other major geographical feature of Toronto
3774-644: The capital city of the Canadian province of Ontario . With a population of 2,794,356 in 2021, it is the fourth-most populous city in North America . The city is the anchor of the Golden Horseshoe , an urban agglomeration of 9,765,188 people (as of 2021) surrounding the western end of Lake Ontario , while the Greater Toronto Area proper had a 2021 population of 6,712,341. Toronto is an international centre of business, finance, arts, sports, and culture and
3885-540: The 19th century, the city built an extensive sewage system to improve sanitation, and streets were illuminated with gas lighting as a regular service. Long-distance railway lines were constructed, including a route completed in 1854 linking Toronto with the Upper Great Lakes. The Grand Trunk Railway and the Northern Railway of Canada joined in the building of the first Union Station in downtown. The advent of
3996-636: The 2000s, many neighbourhoods became ethnically diverse and underwent gentrification due to increasing population and a housing boom during the late 1990s and the early 21st century. The first neighbourhoods affected were Leaside and North Toronto , gradually progressing into the western neighbourhoods in York. Equinox Minerals Equinox Minerals is a mining and exploration company with corporate offices in Perth, Australia and Toronto, Ontario , Canada. It has operations in Peru and Australia. In Zambia it owned
4107-569: The City of Toronto in 1834. Toronto hosted the 4th G20 summit during June 26–27, 2010. This included the largest security operation in Canadian history. Following large-scale protests and rioting, law enforcement arrested more than 1,000 people, the largest mass arrest in Canadian history. On July 8, 2013, severe flash flooding hit Toronto after an afternoon of slow-moving, intense thunderstorms. Toronto Hydro estimated 450,000 people were without power after
4218-597: The Dominican Republic. In 2010, Barrick Gold Corporation became the 18th company to join the Voluntary Principles on Security and Human Rights which provides "guidance to extractives companies on maintaining the security of their operations in a manner that respects human rights and fundamental freedoms." Admission follows an eight step process that requires approval by the Voluntary Principles plenary,
4329-482: The Don River, and north of Davenport Road from Caledonia to Spadina Road ; the Casa Loma grounds sit above this escarpment. The geography of the lakeshore has dramatically changed since the first settlement of Toronto. Much of the land on the harbour's north shore is landfill, filled in during the late 19th century. Until then, the lakefront docks (then known as wharves) were set back farther inland than today. Much of
4440-717: The Huron had planted tree saplings to corral fish. This narrows was called tkaronto by the Mohawk , meaning 'where there are trees standing in the water', and was recorded as early as 1615 by Samuel de Champlain . The word Toronto , meaning 'plenty', also appears in a 1632 French lexicon of the Huron language , which is also an Iroquoian language. It also appears on French maps referring to various locations, including Georgian Bay, Lake Simcoe, and several rivers. A portage route from Lake Ontario to Lake Huron running through this point, known as
4551-576: The Huron, Iroquois, and Ojibwe . Archaeological sites show evidence of human occupation dating back thousands of years. The site was of strategic importance from the beginning of Ontario's recorded history. In the 1660s, the Iroquois established two villages within what is today Toronto, Ganatsekwyagon (Bead Hill) on the banks of the Rouge River and Teiaiagon on the banks of the Humber River . By 1701,
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4662-561: The Papua New Guinea government a majority stake in the operations of the Porgera gold mine and an agreement reached in 2023 renewed the special mining lease so that operations could restart that year. At the Porgera Joint Venture in Papua New Guinea, the material that remains after extracting gold from ore is processed into tailings and sent off the mining property. Critics say the tailings disposal method could release harmful materials in
4773-669: The Progressive Conservatives' majority. North York mayor Mel Lastman became the first "megacity" mayor, and the 62nd mayor of Toronto, with his electoral victory . Lastman gained national attention after multiple snowstorms, including the January Blizzard of 1999 , dumped 118 centimetres (46 in) of snow and effectively immobilized the city. He called in the Canadian Army to aid snow removal by use of their equipment to augment police and emergency services. The move
4884-664: The Toronto Harbour), and the Rouge River at the city's eastern limits. Most of the ravines and valley lands in Toronto today are parklands and recreational trails are laid out along the ravines and valleys. The original town was laid out in a grid plan on the flat plain north of the harbour, and this plan was extended outwards as the city grew. The width and depth of several of the ravines and valleys are such that several grid streets, such as Finch Avenue , Leslie Street , Lawrence Avenue , and St. Clair Avenue , terminate on one side of
4995-622: The Toronto skyline extends northward along Yonge Street. Old Toronto is also home to many historically wealthy residential enclaves, such as Yorkville , Rosedale, The Annex, Forest Hill, Lawrence Park , Lytton Park , Deer Park , Moore Park , and Casa Loma, most stretching away from downtown to the north. East and west of downtown, neighbourhoods such as Kensington Market , Chinatown , Leslieville , Cabbagetown and Riverdale are home to bustling commercial and cultural areas as well as communities of artists with studio lofts, with many middle- and upper-class professionals. Other neighbourhoods in
5106-616: The West. Like the Irish before them, many of these migrants lived in overcrowded shanty-type slums, such as " the Ward ", which was centred on Bay Street , now the heart of the country's Financial District . As new migrants began to prosper, they moved to better housing in other areas, in what is now understood to be succession waves of settlement. Despite its fast-paced growth, by the 1920s, Toronto's population and economic importance in Canada remained second to
5217-460: The adjacent Port Lands on the harbour's east side was a wetland filled in early in the 20th century. The shoreline from the harbour west to the Humber River has been extended into the lake. Further west, landfill has been used to create extensions of land such as Humber Bay Park. The Toronto Islands were a natural peninsula until a storm in 1858 severed their connection to the mainland, creating
5328-423: The agreement with Barrick Gold to develop the Reko Diq copper-gold project the largest investment pact they have ever made. The agreement signed in December 2022 has the province of Baluchistan owning 10% of the project on a free carried basis, 15% on a fully funded basis, 25% by three state-owned enterprises, and 50% by Barrick Gold. Next steps to ramp-up the project include completing the updated feasibility study by
5439-417: The announcement of the merger, Randgold shares rose 6% and Barrick shares rose 5.6%. The deal created the world's largest gold producer with the new company listed on the Toronto Stock Exchange and New York Stock Exchange. The companies began talking about a combination in 2015 and the deal was orchestrated by Barrick Executive Chairman John L. Thornton and Randgold Founder and CEO Mark Bristow, who became CEO of
5550-405: The architecture of its homes, and for being one of Toronto's earliest planned communities, was designated as an Ontario Heritage Conservation district in 1985. The Casa Loma neighbourhood is named after "Casa Loma", a castle built in 1911 by Sir Henry Pellat , complete with gardens, turrets, stables, an elevator, secret passages, and a bowling alley. Spadina House is a 19th-century manor that
5661-423: The area, with the usual complaints of debauchery and drunkenness. In 1793, Governor John Graves Simcoe established the town of York on the Toronto Purchase lands, naming it after Prince Frederick, Duke of York and Albany . Simcoe decided to move the Upper Canada capital from Newark (Niagara-on-the-Lake) to York, believing the new site would be less vulnerable to attack by the United States. The York garrison
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#17330852974725772-413: The associated processing plants and infrastructure of both companies. The joint venture was created after Barrick gave up a takeover bid for Newmont in early 2019. Nevada Gold Mines in total comprises 10 underground and 12 opencast mines, two autoclave facilities, two roasting facilities, four oxide mills, a flotation plant and five heap leach facilities. Barrick owns 61.5% of the joint venture and operates
5883-408: The book Imperial Canada Inc.: Legal Haven of Choice for the World's Mining Industries by Alain Deneault. Publisher Karl Siegler described this as " libel chill ," pointing out that since the book had not yet been published, Barrick Gold could not know whether or not its contents actually constituted defamation. Subsequently, Talon decided to publish the work ( ISBN 9780889226357 ) and "issued
5994-418: The business, while Newmont owns 38.5%. It was estimated that $ 500 million could be saved by creating the joint venture in average annual synergies during the first five years of operating the joint venture. After its first year of operation, $ 35 million in operating and management costs were saved. Over 20 years, it is estimated that $ 4.7 billion of total savings will be realised. Pakistan plans to grant Barrick
6105-481: The capital until 1865 (two years before Canadian Confederation). Since then, the capital of Canada has remained Ottawa , Ontario. Toronto became the capital of the province of Ontario after its official creation in 1867. The seat of government of the Ontario briefly returned to the same building that hosted the Third Parliament Building of Upper Canada, before moving to the Ontario Legislative Building at Queen's Park in 1893. Because of its provincial capital status,
6216-617: The central city retain an ethnic identity, including two smaller Chinatowns, the Greektown area, Little Italy , Portugal Village , and Little India , among others. The inner suburbs are contained within the former municipalities of York and East York. These are mature and traditionally working-class areas, consisting primarily of post–World War I small, single-family homes and small apartment blocks. Neighbourhoods such as Crescent Town , Thorncliffe Park , Flemingdon Park , Weston, and Oakwood Village consist mainly of high-rise apartments, which are home to many new immigrant families. During
6327-407: The channel of the Don River have been dredged numerous times for shipping. The lower section of the Don River was straightened and channelled in the 19th century. The former mouth drained into a wetland; today, the Don River drains into the harbour through a concrete waterway, the Keating Channel . To mitigate flooding in the area, as well as to create parkland, a second more natural mouth was built to
6438-527: The city granted the operation of the transit franchise to the Toronto Railway Company . The public transit system passed into public ownership in 1921 as the Toronto Transportation Commission , later renamed the Toronto Transit Commission . The system now has the third-highest ridership of any city public transportation system in North America . The Great Toronto Fire of 1904 destroyed a large section of downtown Toronto . The fire destroyed more than 100 buildings. The fire claimed one victim, John Croft, who
6549-471: The city was also the location of Government House , the residence of the viceregal representative of the Crown in right of Ontario . Long before the Royal Military College of Canada was established in 1876, supporters of the concept proposed military colleges in Canada. Staffed by British Regulars, adult male students underwent a three-month-long military course at the School of Military Instruction in Toronto. Established by Militia General Order in 1864,
6660-414: The city was hit by a massive blackout which affected millions of Torontonians (it also affected most of Southern Ontario and parts of the United States), stranding some hundreds of people in tall buildings, knocking out traffic lights and suspending subway and streetcar service across the city during those aforementioned days. On March 6, 2009, the city celebrated the 175th anniversary of its inception as
6771-449: The city, there exist hundreds of small neighbourhoods and some larger neighbourhoods covering a few square kilometres. The many residential communities of Toronto express a character distinct from the skyscrapers in the commercial core. Victorian and Edwardian-era residential buildings can be found in enclaves such as Rosedale , Cabbagetown , The Annex , and Yorkville . The Wychwood Park neighbourhood, historically significant for
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#17330852974726882-539: The company had 77 million ounces of proven and probable gold reserves. Barrick has met or beaten market consensus on its financial and operating results for eleven consecutive quarters as of Q3 2021. Barrick had been the world's largest gold mining company until Newmont acquired Goldcorp in 2019. Barrick expects to produce between 3.9 and 4.3 million ounces of gold and between 180 and 210 million tonnes of copper in 2024. Chief executive Mark Bristow said in 2020 that Barrick has debated moving its primary stock listing to
6993-516: The company said it had been working with Human Rights Watch for six months on a series of actions in response to the investigation, which included improvements to the security environment, enhanced human rights training, and grievance mechanisms. A “remedy framework” called the Porgera Remedy Framework was set up as an alternative to the local judicial system to deliver compensation packages. In June 2014, Amnesty International reported that local police forced evictions by way of arson from land adjacent to
7104-463: The company was admitted to the FTSE 100 Index . In April 2011, Barrick beat a takeover offer for Equinox Minerals by China Minmetals . In 2018, John L. Thornton orchestrated a strategic “trust-based relationship” between Barrick Gold and Shandong Gold Group, a Chinese state-owned enterprise, establishing joint ownership of the Veladero mine to capitalize on Shandong's investor base, capital suppliers, political connections, and regional influence. In
7215-523: The elimination of racially based immigration policies by the late 1960s, Toronto became a destination for immigrants from all over the world. By the 1980s, Toronto had surpassed Montreal as Canada's most populous city and chief economic hub. During this time, in part owing to the political uncertainty raised by the resurgence of the Quebec sovereignty movement , many national and multinational corporations moved their head offices from Montreal to Toronto and Western Canadian cities. On January 1, 1998, Toronto
7326-438: The end of 2024 with first production of gold and copper to occur in 2028. Berkshire Hathaway disclosed that it purchased $ 562 million in shares of Barrick during the second quarter of 2020, immediately making it the eleventh-largest shareholder in the company. The new position is 20.9 million shares, which is 1.2% of the company's outstanding stock. Berkshire CEO Warren Buffett and his key business partner Charlie Munger have
7437-410: The falling price of gold that would have made the operation less economical. A $ 140 million settlement was reached two months later with no charges of wrongdoing or liability and the company stating the claims alleged by the lead plaintiffs are unfounded. In February 2010, lawyers for Barrick Gold threatened to sue the Canadian publisher Talonbooks for defamation if it proceeded with plans to publish
7548-474: The first mayor of Toronto . Mackenzie would later lead the unsuccessful Upper Canada Rebellion of 1837 against the British colonial government. Toronto's population of 9,000 included some African-American slaves, some of whom had been brought by the Loyalists, and Black Loyalists , whom the Crown had freed (most of the latter were resettled in Nova Scotia). By 1834, refugee slaves from America's South were also immigrating to Toronto to gain freedom. Slavery
7659-414: The global gold industry. Merging gold companies could make the industry more attractive to general investors as gold reserves are shrinking across the globe so fewer competitors could boost growth prospects. Newmont rejected the takeover offer and instead suggested the two companies' operations in Nevada, USA, be merged with Newmont CEO Gary Goldberg insisting that the joint venture be operated by Newmont with
7770-680: The hurricane caused more than CA$ 25 million in damage. In 1967, the seven smallest municipalities of Metropolitan Toronto were merged with larger neighbours, resulting in a six-municipality configuration that included the former city of Toronto and the surrounding municipalities of East York , Etobicoke , North York , Scarborough , and York . In the decades after World War II, refugees from war-torn Europe and Chinese job-seekers arrived, as well as construction labourers, particularly from Italy and Portugal. Toronto's population grew to more than one million in 1951 when large-scale suburbanization began and doubled to two million by 1971. Following
7881-400: The lake, allowing for a somewhat sheltered Toronto Harbour south of the downtown core. An Outer Harbour was constructed southeast of downtown during the 1950s and 1960s, and it is now used for recreation. The city's limits are formed by Lake Ontario to the south, the western boundary of Marie Curtis Park , Etobicoke Creek , Eglinton Avenue and Highway 427 to the west, Steeles Avenue to
7992-788: The main decision-making body, consisting of all active members, drawn from participating governments, companies and non-governmental organizations. Barrick Gold participates in a number of corporate social responsibility programs, such as the United Nations Global Compact . The company is a signatory to the Extractive Industries Transparency Initiative. It also participates in The Global Reporting Initiative , Business for Social Responsibility and The Global Business Coalition on HIV/Aids, Tuberculosis and Malaria. On September 7, 2007, Barrick
8103-409: The majority of Torontonians speak English as their primary language, over 160 languages are spoken in the city. The mayor of Toronto is elected by direct popular vote to serve as the chief executive of the city. The Toronto City Council is a unicameral legislative body, comprising 25 councillors since the 2018 municipal election , representing geographical wards throughout the city. Toronto
8214-467: The merged company. In February 2019, Barrick Gold announced a hostile $ 19 billion bid to acquire Newmont . It was estimated that a merger could create $ 7 billion of value in operational synergies and would result in a 14% rise in Newmont's net asset value per share. The deal would have created a gold mining company with a market value of about $ 42 billion that some said would be a long-overdue restructuring of
8325-582: The mine. The report said that community leaders presumed the alleged actions by the police were an effort to prevent illegal mining. Journalist Richard Poplak visited the area around the mine in 2016 and reported that Papua New Guinea could be the most dangerous country in the world to be female and that law and order in the country is lacking. He reported that rumours of sexual violence in the Porgera Valley began in 2005 and by 2011 there were hundreds of allegations. Several victims received compensation through
8436-429: The mining property including the open pit, stockpile areas for rock, waste dumps, and underground tunnels. Human Rights Watch said the government of Papua New Guinea has “consistently failed” to maintain law and order in the area and that responsible government regulation was the one essential component still lacking to manage the unstable social situation in the area. On the same day Human Rights Watch published its report,
8547-505: The much longer established Montreal , Quebec. However, by 1934, the Toronto Stock Exchange had become the largest in the country. In 1954, the City of Toronto and 12 surrounding municipalities were federated into a regional government known as Metropolitan Toronto . The postwar boom had resulted in rapid suburban development. It was believed a coordinated land-use strategy and shared services would provide greater efficiency for
8658-562: The north and the Rouge River and the Scarborough–Pickering Townline to the east. The city is mostly flat or gentle hills, and the land gently slopes upward away from the lake. The flat land is interrupted by the Toronto ravine system , which is cut by numerous creeks and rivers of the Toronto waterway system , most notably the Humber River in the west end, the Don River east of downtown (these two rivers flanking and defining
8769-707: The oldest mining companies in the United States. The purchase made Barrick the second-largest gold producer in the world. In December 2005, Barrick launched a hostile takeover bid valued at US$ 9.2 billion for rival Canadian gold miner Placer Dome. The $ 10.4 billion transaction closed in December 2006. The acquisition of Placer Dome by Barrick made Barrick the operator of the Granny Smith , Osborne, Porgera , South Deep , Bald Mountain , Cortez and Golden Sunlight mines. In February 2010, Barrick Gold announced plans to create
8880-404: The press release announcing the partnership, Thornton said that Barrick and Shandong were looking forward to “sharing... capital in ways that will create added value for our respective owners, and our government and community partners in San Juan province”. In September 2018, Barrick Gold announced an all-stock merger with Randgold Resources in a deal valued at $ 6.5 billion. Immediately following
8991-568: The project, which is the single largest investment in the country. About 8,000 jobs are expected to be created and about $ 1 billion will be invested in a new mining technical school along with hospital, schools and roads in the province of Balochistan, which is poor and sparsely populated. Construction of the mine will take place in two phases beginning with a processing plant with the capacity of 40 million tonnes per year and doubling five years after being commissioned. The federal government of Pakistan and provincial government of Baluchistan have called
9102-570: The property by forcing open the mine gate. Community members asked that the mine provide the communities with drinking water. Operations at the mine resumed after two days. Through 2009 and into 2010, Barrick Gold's Cortez Hills project was the subject of litigation in Nevada, seeking to block the project. Opponents appealed to the United States Court of Appeals for the Ninth Circuit , challenging
9213-458: The railway dramatically increased the numbers of immigrants arriving, commerce and industry, as had the Lake Ontario steamers and schooners entering port before. These enabled Toronto to become a major gateway linking the world to the interior of the North American continent. Expanding port and rail facilities brought in northern timber for export and imported Pennsylvania coal. Industry dominated
9324-506: The referendum results and did so in April when it tabled the City of Toronto Act . Both opposition parties held a filibuster in the provincial legislature, proposing more than 12,000 amendments that allowed residents on streets of the proposed megacity to take part in public hearings on the merger and adding historical designations to the streets. This only delayed the bill's inevitable passage, given
9435-462: The region. The metropolitan government began to manage services that crossed municipal boundaries, including highways, police services, water and public transit . In that year, a half-century after the Great Fire of 1904, disaster struck the city again when Hurricane Hazel brought intense winds and flash flooding. In the Toronto area, 81 people were killed, nearly 1,900 families were left homeless, and
9546-485: The school enabled officers of militia or candidates for commission or promotion in the Militia to learn military duties, drill and discipline, to command a company at Battalion Drill, to drill a company at Company Drill, the internal economy of a company, and the duties of a company's officer. The school was retained at Confederation, in 1867. In 1868, Schools of cavalry and artillery instruction were formed in Toronto. In
9657-548: The south during the first half of the 2020s, thereby creating a new island, Ookwemin Minising . Toronto encompasses an area formerly administered by several separate municipalities that were amalgamated over the years. Each developed a distinct history and identity over the years, and their names remain in common use among Torontonians. Former municipalities include East York, Etobicoke, Forest Hill , Mimico , North York, Parkdale , Scarborough, Swansea , Weston and York. Throughout
9768-409: The storm and Toronto Pearson International Airport reported 126 mm (5 in) of rain had fallen over five hours, more than during Hurricane Hazel. Within six months, from December 20 to 22, 2013, Toronto was brought to a near halt by the worst ice storm in the city's history, rivalling the severity of the 1998 Ice Storm (which mainly affected southeastern Ontario, and Quebec). At the height of
9879-568: The storm, over 300,000 Toronto Hydro customers had no electricity or heating. Toronto hosted WorldPride in June 2014, and the Pan and Parapan American Games in 2015 . The city continues to grow and attract immigrants. A 2019 study by Toronto Metropolitan University (then known as Ryerson University) showed that Toronto was the fastest-growing city in North America. The city added 77,435 people between July 2017 and July 2018. The Toronto metropolitan area
9990-908: The town of York in 1793 and later designated it as the capital of Upper Canada . During the War of 1812 , the town was the site of the Battle of York and suffered heavy damage by American troops . York was renamed and incorporated in 1834 as the city of Toronto . It was designated as the capital of the province of Ontario in 1867 during Canadian Confederation . The city proper has since expanded past its original limits through both annexation and amalgamation to its current area of 630.2 km (243.3 sq mi). The diverse population of Toronto reflects its current and historical role as an important destination for immigrants to Canada . About half of its residents were born outside of Canada and over 200 ethnic origins are represented among its inhabitants. While
10101-461: The town's surrender. American soldiers destroyed much of the garrison and set fire to the parliament buildings during their five-day occupation. Because of the sacking of York, British troops retaliated later in the war with the burning of Washington, D.C. York was incorporated as the City of Toronto on March 6, 1834, adopting the Indigenous name. Reformist politician William Lyon Mackenzie became
10212-554: The two companies dividing the ownership equally. A joint venture was subsequently announced in March 2019 with Barrick as the operator owning 61.5% of the business. On July 1, 2019, Barrick and Newmont launched Nevada Gold Mines. The combined operation is the single largest gold mining complex in the world and employs more than 7,000 people. It combined the mines Goldstrike , Cortez , Turquoise Ridge, and Goldrush from Barrick and Newmont's Carlin, Twin Creeks, Phoenix, Long Canyon sites, plus
10323-589: The war, and the area became part of the British colony of Quebec in 1763. During the American Revolutionary War , an influx of British settlers arrived there as United Empire Loyalists fled for the British-controlled lands north of Lake Ontario. The Crown granted them land to compensate for their losses in the Thirteen Colonies. The new province of Upper Canada was being created and needed
10434-631: The waterfront for the next 100 years. During the late 19th century, Toronto became the largest alcohol distillation (in particular, spirits ) centre in North America. By the 1860s, the Gooderham and Worts Distillery operations became the world's largest whisky factory. A preserved section of this once dominant local industry remains in the Distillery District . The harbour allowed access to grain and sugar imports used in processing. Horse-drawn streetcars gave way to electric streetcars in 1891 when
10545-416: Was $ 433 million, long term debt fell significantly in the last quarter of 2010 from $ 422 million down to $ 295.57 million. Even though Equinox doesn't produce gold Barrick Gold, the world's largest gold company (both in terms of reserves and production) acquired Equinox Minerals in April 2011; the deal will lower the fraction of revenue Barrick receives from the sale of gold to 80%. The company formed after
10656-434: Was 323.4 million pounds (146,690 tonnes) 68% higher than in 2009 (192.1 million pounds). The company produced slightly more copper than it sells (In 2010 323.4 vs 290.2 million pounds up from 2009 when it was 290.42 vs 179.72 million pounds), 77% of production occurred during the first nine months of the year (production was 113 kt, sales were 98kt); capital expenditure amounted to $ 66 million. In September 2010 company debt
10767-513: Was a member of the Orange Order between 1850 and 1950, and the city was sometimes referred to as the " Belfast of Canada" because of Orange influence in municipal politics and administration. For brief periods, Toronto was twice the capital of the united Province of Canada : first from 1849 to 1851, following unrest in Montreal, and later from 1855 to 1859. After this date, Quebec was designated as
10878-606: Was added to the Dow Jones Sustainability Index. The company is a member of The International Leadership Council (ILC) of The Nature Conservancy. In Papua New Guinea, the Porgera Joint Venture participated in the development of a wildlife conservation area in the Kaijende Highlands. Between 2015 and 2017, three separate incidents occurred where processing solution containing cyanide escaped the leach pad area. In September 2015, 1,072m of cyanide processing solution
10989-464: Was an explosive expert clearing the ruins from the fire. It caused CA$ 10,387,000 in damage (roughly CA$ 277,600,000 in 2020 terms). The city received new European immigrant groups from the late 19th century into the early 20th century, particularly Germans, French, Italians, and Jews. They were soon followed by Russians, Poles, and other Eastern European nations, in addition to the Chinese entering from
11100-587: Was banned outright in Upper Canada (and throughout the British Empire) in 1834. Torontonians integrated people of colour into their society. In the 1840s, an eating house at Frederick and King Streets, a place of mercantile prosperity in the early city, was operated by a black man named Bloxom. As a major destination for immigrants to Canada, the city grew rapidly through the remainder of the 19th century. The first significant wave of immigrants were Irish, fleeing
11211-435: Was built at the entrance of the town's natural harbour, sheltered by a long sand-bar peninsula. The town's settlement formed at the harbour's eastern end behind the peninsula, near the present-day intersection of Parliament Street and Front Street (in the " Old Town " area). In 1813, as part of the War of 1812 , the Battle of York ended in the town's capture and plunder by United States forces. John Strachan negotiated
11322-825: Was changed to Barrick Gold Corporation in 1995. American Barrick became the third-largest gold mining company in the world when it acquired Lac Minerals in 1994, which owned mining properties in North and South America. Two years later, in 1996, Arequipa Resources, owner of properties including the Pierina mine in Peru , accepted a takeover offer from the renamed Barrick Gold Corporation. A third acquisition followed in early 1999, when Barrick Gold acquired Sutton Resources Ltd., assuming ownership of properties in Tanzania . In 2001, Barrick acquired Homestake Mining Company for $ 2.3 billion in stock, then one of
11433-474: Was estimated that the project site contains up to 42 million ounces of gold and 54 billion pounds of copper in a study done in 2010. The mineral deposit was discovered at the foot of an extinct volcano in the 2000s. Work on the project was stopped in 2011 when a mining license to develop the Reko Diq mine was refused to be granted by Pakistani authorities. Ownership of the mine is to be split evenly between Pakistan and Barrick, which are investing about $ 10 billion in
11544-561: Was greatly enlarged, not through traditional annexations , but as an amalgamation of the Municipality of Metropolitan Toronto and its six lower-tier constituent municipalities: East York, Etobicoke, North York, Scarborough, York, and the original city itself. They were dissolved by an act of the Government of Ontario and formed into a single-tier City of Toronto (colloquially dubbed the " megacity "), replacing all six governments. The merger
11655-465: Was killed and at least four more were injured at the Barrick Pierina mine in the northern Ancash region of Peru in clashes between national police and members of a neighboring community who were protesting the mine's alleged over-consumption and contamination of local water sources during a drought. Villagers from the communities of Mareniyoc and San Isidro blocked an access road to the mine and entered
11766-447: Was launched in 2016 accusing the company of fraudulently inflating its market value by concealing problems at Pascua Lama , a South American mine under development. Development of the mine was indefinitely halted on October 31, 2013, and people who purchased shares between May 7, 2009, and November 1, 2013, were part of the class-action lawsuit. Development was halted for a number of issues including cost overruns, environmental concerns and
11877-464: Was nationalized by the government of Papua New Guinea under Prime Minister James Marape when the government did not renew the mining lease, and it expired in August 2019. The gold mine, which contributes about 10% of Papua New Guinea's total exports, was seen by Prime Minister James Marape as a way for the country to get a greater share of its major natural resource projects. Two new deals forged in 2021 gave
11988-541: Was proposed as a cost-saving measure by the Progressive Conservative provincial government under premier Mike Harris . The announcement touched off vociferous public objections. In March 1997, a referendum in all six municipalities produced a vote of more than 3:1 against amalgamation. However, municipal governments in Canada are creatures of the provincial governments, and referendums have little to no legal effect. The Harris government could thus legally ignore
12099-444: Was released from a faulty valve on a pipe going to the heap leach pad and was not diverted to the tailings storage facility because of a malfunctioning gate. In September 2016, a pipe carrying cyanide processing solution was struck by falling ice that had rolled down a slope, and in March 2017, a pipe carrying a mixture of rocks came loose. After the first accident in 2015, local judge Pablo Oritja of Argentina indicted nine employees, and
12210-408: Was ridiculed by some in other parts of the country, fuelled in part by what was perceived as a frivolous use of resources. The city attracted international attention in 2003 when it became the centre of a major SARS (severe acute respiratory syndrome) outbreak. Public health attempts to prevent the disease from spreading elsewhere temporarily dampened the local economy. From August 14 to 17, 2003,
12321-609: Was the second-fastest-growing metropolitan area in North America, adding 125,298 persons, compared with 131,767 in the Dallas–Fort Worth–Arlington metroplex in Texas. The large growth in the Toronto metropolitan area is attributed to international migration to Toronto. The COVID-19 pandemic in Canada first occurred in Toronto and was among the hotspots in the country . Toronto was named as one of 16 cities in North America (and one of two Canadian cities) to host matches for
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