Barrick Gold Corp Helps Underprivileged Chilean Families Own New Homes

Barrick Gold Corporation has helped provide new homes to 125 economically disadvantaged Chilean families as a part of its anti-poverty initiative. New homes have been provided by Barrick in partnership with 'A Roof for Chile', which is leading NGO in the area of slum eradication and providing adequate housing in Chile.

Beyond Borders magazine has profiled this long-term initiative of Barrick in its latest edition. The initiative, which is known as the Renacer, or Rebirth program, involves design and building of a new housing development in Copiapo, Chile. Chile's Ministry of Housing and Barrick Gold Corporation sponsored the initiative.

Nearly 70 percent of the families that benefitted from the program have already moved into the new development. The Renacer program, apart from promoting housing development, also extended support to about 700 families located in Chile's Atacama region. It offered them literacy, academic, vocational and entrepreneurial training to improve their livelihood earning opportunities. Barrick provided a total funding of $4.3 million to 'A Roof for Chile' as a part of its commitment to support the program.

Rod Jiménez, Vice President of Corporate Affairs, Barrick South America, said: "The Renacer program is an example of what can be achieved when the government, NGO and private sectors work together to bring about positive change in our host communities. We would like to thank our long-time partner A Roof for Chile, whose work to alleviate poverty has transformed the lives of thousands of families. We would also like to thank the Chilean government for supporting this program and recognize the families, who were full partners from the beginning. Their resilience and strength of spirit are a true inspiration."

Beyond Borders profile of Barrick's exemplary initiative also featured an interview with the company's President and CEO Jamie Sokalsky. Sokalsky said: "When we talk about disciplined capital allocation it doesn't mean that we should look to just reduce costs or make lesser investments. It means making the right investments and allocating capital in a disciplined way. There are critical areas where we cannot cut corners or take shortcuts. Here I mean our partnerships with local communities and promises to our stakeholders, as well as our commitment to protect the environment."

Photo Credit: ba1969