Barrick Joins Challenge to Decarbonize Surface Mining
August 13 2021 - 11:45AM
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) has become a patron
of the Charge on Innovation Challenge, an industry-wide effort to
cut emissions from surface mining.
The Challenge takes the form of a global
competition and seeks to leverage the experience and ideas of a
variety of industries to develop new concepts and solutions for
large-scale haul truck electrification. Electrification is seen as
the key to decarbonize mining and the crux of the challenge is to
develop a solution that will safely deliver electricity to large
surface haul trucks without adding time to the haul cycle.
So far over 350 companies from across 19
industries have registered their interest as vendors with 80
companies submitting formal expressions of interest.
With the help of the Australian mining equipment
industry body Austmine, the patrons will evaluate proposals over
the next month with a view to creating a short-list of vendors to
submit formal proposals. Once a suitable solution is selected, site
trials are expected to start within the next few years.
Barrick president and chief executive Mark
Bristow said the company was proud to lend its support to, and play
a part in, this initiative which promises to accelerate the
industry’s decarbonization.
“At Barrick, we have set ourselves an emissions
reduction target of 30% by 2030 against our 2018 baseline and our
vision is to achieve net zero emissions by 2050,” he said. “While
we have already made clear strides in meeting these targets, we are
constantly looking at new and innovative ways to further enhance
our environmental credentials.”
Enquiries
Investor and Media RelationsKathy du Plessis+44
20 7557 7738Email: barrick@dpapr.com
Website: www.barrick.com
Cautionary Statement on Forward-Looking
Information
Certain information contained or incorporated by
reference in this press release, including any information as to
our strategy, projects, plans or future operating performance,
constitutes “forward-looking statements”. All statements, other
than statements of historical fact, are forward-looking statements.
The words “challenge”, “develop”, “will”, “evaluate”, “trial”,
“promise”, “target”, “vision” “could”, “would” and similar
expressions identify forward-looking statements. In particular,
this press release contains forward-looking statements including,
without limitation, with respect to: Barrick’s climate strategy;
the potential for the Charge on Innovation Challenge to reduce
emissions from surface mining through large-scale haul truck
electrification; and Barrick’s greenhouse gas emission reduction
targets and ultimate aim to achieve net zero emissions by 2050
Forward-looking statements are necessarily based
upon a number of estimates and assumptions including material
estimates and assumptions related to the factors set forth below
that, while considered reasonable by the Company as at the date of
this press release in light of management’s experience and
perception of current conditions and expected developments, are
inherently subject to significant business, economic and
competitive uncertainties and contingencies. Known and unknown
factors could cause actual results to differ materially from those
projected in the forward-looking statements and undue reliance
should not be placed on such statements and information. Such
factors include, but are not limited to: failure to comply with
environmental and health and safety laws and regulations;
non-renewal of key licences by governmental authorities; changes in
national and local government legislation, taxation, controls or
regulations and/or changes in the administration of laws, policies
and practices; expropriation or nationalization of property and
political or economic developments in Canada, the United States and
other jurisdictions in which the Company or its affiliates do or
may carry on business in the future; timing of receipt of, or
failure to comply with, necessary permits and approvals; lack of
certainty with respect to foreign legal systems, corruption and
other factors that are inconsistent with the rule of law; risks
associated with illegal and artisanal mining; risks associated with
new diseases, epidemics and pandemics, including the effects and
potential effects of the global Covid-19 pandemic; damage to the
Company’s reputation due to the actual or perceived occurrence of
any number of events, including negative publicity with respect to
the Company’s handling of environmental matters or dealings with
community groups, whether true or not; risk of loss due to acts of
war, terrorism, sabotage and civil disturbances; litigation and
administrative proceedings; contests over title to properties,
particularly title to undeveloped properties, or over access to
water, power and other required infrastructure; risks associated
with working with partners in jointly controlled assets; employee
relations including loss of key employees; and increased costs and
physical risks, including extreme weather events and resource
shortages, related to climate change. In addition, there are risks
and hazards associated with the business of mineral exploration,
development and mining, including environmental hazards, industrial
accidents, unusual or unexpected formations, pressures, cave-ins,
flooding and gold bullion, copper cathode or gold or copper
concentrate losses (and the risk of inadequate insurance, or
inability to obtain insurance, to cover these risks).
Many of these uncertainties and contingencies
can affect our actual results and could cause actual results to
differ materially from those expressed or implied in any
forward-looking statements made by, or on behalf of, us. Readers
are cautioned that forward-looking statements are not guarantees of
future performance. All of the forward-looking statements made in
this press release are qualified by these cautionary statements.
Specific reference is made to the most recent Form 40-F/Annual
Information Form on file with the SEC and Canadian provincial
securities regulatory authorities for a more detailed discussion of
some of the factors underlying forward-looking statements and the
risks that may affect Barrick’s ability to achieve the expectations
set forth in the forward-looking statements contained in this press
release.
We disclaim any intention or obligation to
update or revise any forward-looking statements whether as a result
of new information, future events or otherwise, except as required
by applicable law.
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