Safety Risk Management

Risk management is the process of identifying and assessing risk in the workplace and developing strategies to manage it. Strategies include avoiding the risk, reducing the negative effect of the risk, transferring the risk and accepting some or all of the consequences of a particular risk.

Risk assessment is a fundamental step in the risk management process at Barrick. Risk assessment involves the identification of consequences (magnitude of the potential loss) and the likelihood that the consequence will occur. Training in the techniques and methodology for carrying out risk assessments using Barrick’s criteria is provided to a wide range of personnel at all levels, in all disciplines, across all Barrick business locations. Contractor personnel have been included in the training where appropriate. We employ three levels of risk assessment:

• Field level risk assessments – an assessment of hazards immediately prior to commencing a task (e.g. tripping or slipping hazards in the work area).
• Formal risk assessment – a formal process for review of all aspects of work undertaken at each site to identify and evaluate risk to people, property or the environment
• High level risk assessment – a formal review used to identify and evaluate potential catastrophic risk of loss or harm to people, property, environment, community or business reputation.