Barrick Beyond Borders - May 2012 - Barrick Gold Corporation

TOP: MARYKAYE CASHMAN, CEO OF CASHMAN EQUIPMENT.LEFT: THE PARTS WAREHOUSE AT CASHMAN EQUIPMENT’S HEADQUARTERSIN LAS VEGAS.For Cashman Equipment Co., a large Caterpillar distributor thatserves the Nevada market, mining helped offset a sharp declinein sales to the construction industry. “Construction almostceased in Reno and Las Vegas during the recession, and it’s stillwell below pre-recession levels,” says MaryKaye Cashman, CEOof the Las Vegas-based company. “Fortunately, mining helped usmaintain our equilibrium.”As its mining-related business grows and the constructionindustry shows signs of life, Cashman Equipment has begunhiring again. The company’s head count stands at about 675,up from 500 at the low point of the recession. The company islooking to add 50 new jobs this year, about half of those at itsstate-of-the-art plant in Las Vegas and the remainder at sites inElko and Reno. “The growth of the mining industry has helpeddiversify Nevada’s economy, and without a doubt, Barrick hasbeen a big part of that,” says Mike Pack, President of CashmanEquipment.In its 2010 economic overview, the NMA estimated miningadded $7.5 billion to Nevada’s gross state product and $3 billionto household income. The industry paid an estimated $314million in state taxes in 2010, an all-time high, and generatedan estimated 12,200 direct jobs at an average salary of $83,000,including benefits. The average state salary in 2010 for alloccupations in the state was $43,000, according to the NMA.While the NMA’s 2011 economic overview won’t be availableuntil October 2012, a recent survey of its members revealedplans to add between 1,200 and 1,500 new jobs this year. Barrickemploys more than 5,000 people at its Nevada operations, and isbudgeting for 330 new positions in 2012. The company attemptsto hire in-state whenever possible, attending numerous job fairsaround the state, including hard-hit urban areas like Reno andLas Vegas. For every direct job in the mining industry, the NMAestimates another 5.23 indirect jobs are created. In 2010, thatMay 2012