Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) continues to invest
in creating value for all stakeholders and in supporting the
communities that host its mines, president and chief executive Mark
Bristow said here today.
Speaking to media at the company’s Loulo-Gounkoto
complex, Bristow noted the commissioning of the Gounkoto
underground mine and the Gara West open pit, the continuing
replacement of reserves, the extension of the solar power plant and
the further strengthening of local partnerships as instances of the
company’s long-term commitment to the country.
“In the first half of the year we’ve contributed
$337 million to the Malian economy in the form of taxes, royalties,
dividends, salaries and payments to local suppliers, taking the
lifetime contribution of Barrick, previously Randgold, to $8.5
billion. We’re particularly proud of the fact the Gara West pit is
being mined for us by two Malian contractors we have mentored,” he
said.
At the halfway mark of the year, the complex is on
track to meet its production guidance for 2022, replace annual
reserve depletion to further extend its mine life, and maintain its
exemplary safety record, with no lost time injuries or major
environmental events during the past quarter.
It continues to invest in sustainable economic
community projects, establishing a motel, a farm for Kenieba women
and three water supply systems during the quarter. The Loulo
agricultural college, designed as the foundation of a sustainable
regional agribusiness, has already trained 21 women and 143 men and
created 30 farms.
Since the opening of the mine, Loulo-Gounkoto has
built 20 schools in its neighbouring villages, taking student
enrolment from 500 to more than 5,000. Seventy-eight of them are
currently benefitting from the complex’s bursary program and
Loulo-Gounkoto is also supporting teachers’ salaries.
“First as Randgold and now as Barrick, we’ve been
operating in Mali for 25 years and we plan to be here for at least
as long again. The strong and mutually rewarding partnerships we
have forged with the government, local business partners and our
host communities are the key to our success and an example to
Africa’s other mining countries,” Bristow said.
Enquiries
President and CEOMark Bristow+1 647 205 7694+44 788
071 1386
Group Regional Manager, West Africa Mahamadou
Samaké +223 66 75 61 36
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 financial or operating
performance, constitutes “forward-looking statements”. All
statements, other than statements of historical fact, are
forward-looking statements. The words “continue”, “on track”,
“maintain”, “commitment”, “value”, “guidance”, and similar
expressions identify forward-looking statements. In particular,
this press release contains forward-looking statements including,
without limitation, with respect to: Loulo-Gounkoto’s production
guidance and performance; Loulo-Gounkoto’s ability to continue to
replace mineral reserves net of depletion and extend the mine life;
Loulo-Gounkoto’s safety performance; Barrick’s commitment to Mali
and investment in the development of local communities, including
to support local employment, education and development
programs.
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: fluctuations in the spot
and forward price of gold, copper, or certain other commodities
(such as silver, diesel fuel, natural gas, and electricity); the
speculative nature of mineral exploration and development; changes
in mineral production performance, exploitation, and exploration
successes; the possibility that future exploration results will not
be consistent with the Company’s expectations; risks that
exploration data may be incomplete and considerable additional work
may be required to complete further evaluation, including but not
limited to drilling, engineering and socioeconomic studies and
investment; risk of loss due to acts of war, terrorism, sabotage
and civil disturbances; risks associated with projects in the early
stages of evaluation, and for which additional engineering and
other analysis is required; failure to comply with environmental
and health and safety laws and regulations; timing of receipt of,
or failure to comply with, necessary permits and approvals; 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 the Mali and other
jurisdictions in which the Company or its affiliates do or may
carry on business in the future; 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; risks associated with new diseases, epidemics and
pandemics, including the effects and potential effects of the
global Covid-19 pandemic; litigation and legal and administrative
proceedings; employee relations including loss of key employees;
increased costs and physical risks, including extreme weather
events and resource shortages, related to climate change; and
availability and increased costs associated with mining inputs and
labor. Barrick also cautions that its guidance may be impacted by
the unprecedented business and social disruption caused by the
spread of Covid-19. 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.
Barrick disclaims 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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