Barrick Gold Corporation – After 25 years of creating value in Mali, Barrick continues to invest in the future
All amounts are in US dollars
Midway through the year, the Loulo-Gounkoto complex is on track to meet its 2022 production targets, replace annual reserve depletion to further extend its mine life and maintain its exemplary safety record, with no lost-time accidents or major environmental impact. events of the last quarter.
Loulo Gold Mine, Mali – Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) continues to invest in creating value for all stakeholders and supporting the communities that host its mines, said today. President and CEO Mark Bristow 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 mine, the continued replacement of reserves, the expansion of the solar power plant and the strengthening of local partnerships as examples of the company’s long-term commitment to the country.
“During the first half of the year, we contributed $337 million to the Malian economy in the form of taxes, royalties, dividends, salaries and payments to local suppliers, bringing Barrick’s lifetime contribution , formerly Randgold, at $8.5 billion. We are particularly proud of the fact that the Gara West pit is operated for us by two Malian entrepreneurs whom we mentored,” he said.
Midway through the year, the complex is on track to meet its 2022 production targets, replace annual reserve depletion to further extend the life of its mine and maintain its exemplary safety record , with no lost-time accidents or major environmental events during the year. past quarter.
It continues to invest in sustainable economic community projects, establishing a motel, a Kenieba women’s farm and three water supply systems during the quarter. The agricultural college of Loulo, designed as the base of a sustainable regional agro-industry, 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 neighboring villages, increasing the number of enrolled students from 500 to more than 5,000. complex scholarships and Loulo-Gounkoto also supports teacher salaries.
“First as Randgold and now as Barrick, we have been operating in Mali for 25 years and plan to be there for at least that long. The strong and mutually rewarding partnerships we have forged with government, local business partners and our host communities are key to our success and an example for other mining countries in Africa,” Bristow said.
President and CEO
+1 647 205 7694
+44 788 071 1386
Group Regional Director, West Africa
+223 66 75 61 36
Investor Relations and Media
Kathy du Plessis
+44 20 7557 7738
E-mail: [email protected]
Caution regarding forward-looking information
Certain information contained or incorporated by reference in this press release, including any information regarding our strategy, plans, 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”, “direction” and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements, including, without limitation, regarding: Loulo-Gounkoto’s production direction and performance; the ability of Loulo-Gounkoto to continue to replace net mineral reserves of depletion and extend mine life; The safety performance of Loulo-Gounkoto; Barrick’s commitment to Mali and investment in the development of local communities, including supporting local employment, education and development programs.
Forward-looking statements are necessarily based on a number of estimates and assumptions, including significant estimates and assumptions relating to the factors set forth below which, although believed to be reasonable by the Company as of the date of this press 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. These 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, mining and exploration success; the possibility that future exploration results will not meet the Company’s expectations; the risks that exploration data will be incomplete and that considerable additional work will be required to complete a more in-depth assessment, including but not limited to drilling, engineering and socio-economic studies and investments ; risk of loss due to acts of war, terrorism, sabotage and civil unrest; risks associated with projects in the early stages of assessment and for which additional engineering and other analyzes are required; failure to comply with environmental, health and safety laws and regulations; timing of receipt or non-compliance 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 Mali and other jurisdictions in which the Company or its subsidiaries do or may do business in the future; damage to the Company’s reputation due to the occurrence or perceived occurrence of a number of events, including negative publicity regarding the Company’s handling of environmental issues or relationships 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; legal and administrative litigation and proceedings; employee relations, including the loss of key employees; increased physical costs and risks, including extreme weather events and resource shortages, related to climate change; and the increased availability and costs associated with mining inputs and labor. Barrick also warns that its guidance could be affected by the unprecedented business and social disruption caused by the spread of Covid-19. In addition, there are risks and hazards associated with exploration, development and mining activities, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, floods and gold bars, copper cathodes or gold or copper concentrates. losses (and the risk of inadequate insurance or the inability to obtain insurance to cover such risks).
Many of these uncertainties and contingencies may affect our actual results and could cause actual results to differ materially from those expressed or implied by any forward-looking statements made by or on our behalf. Readers are cautioned that forward-looking statements are not guarantees of future performance. All 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 filed with the SEC and Canadian provincial securities regulators for a more detailed discussion of some of the factors underlying the forward-looking statements and risks that could 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 statement, whether as a result of new information, future events or otherwise, except as required by applicable law.