The agreement with Chilean utility company Colbun calls for the power company to supply the mine with 550 GWh/year of hydro-, solar- and wind-powered generation for a 10-year period from July 2020 onwards.

The move will replace greenhouse gas emissions of 350,000 tonnes per year, which is equal to 87,000 vehicles.

It will allow the mine to reduce its future energy costs.

Antofagasta CEO Iván Arriagada said the agreement would help Zaldívar become a more sustainable mining operation.

Barrick president Kelvin Dushnisky said every responsible business had an obligation to play a constructive role in tackling climate change challenges.

"Our climate change strategy includes a commitment to reduce our greenhouse gas emissions by 30% by 2030," he said, adding that the Colbun agreement with was a good example of moving towards this goal.

Barrick said 10% of the energy used at all of its operating sites worldwide in 2017 was from renewable sources.

In May, Barrick announced plans to convert the power plant that supplies energy to the Pueblo Viejo mine in the Dominican Republic from heavy fuel oil to natural gas.