I am a recent UNR graduate, and after seeing the article “Barrick supports UNR with $345,000,” I wanted to do my part by giving back too. Barrick invests money into many community programs and institutions across the state, so I could never match the size of their giving, but I can proportionately match their generosity based on hourly income.
Let’s do the math. According to the 2017-2018 Net Proceeds of Minerals Bulletin from the Nevada Department of Taxation, Barrick Gold mined about $2.8 billion worth of gold in Nevada. Per day, Barrick extracted just under $8 million. Most mines operate 24 hours a day, so the hourly profits are slightly less than Barrick’s investment of $345,000. Barrick’s investment in our community is about to equivalent to one hour of work.
I work for the Progressive Leadership Alliance of Nevada (PLAN) and our minimum wage is $15 per hour. To be in step with Barrick’s level of giving, I recently gave what I could to support my community with a $15 donation to UNR.
The point is that we can't confuse dependence with generosity. $345,000 is a drop in the bucket for Barrick Gold when they make billions of dollars off of Nevada's natural resources. I’m not saying their investment in our community isn’t good, but those investments have yet to translate into long-term growth or economic prosperity.