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Kibari goes ahead, Canadian Business Journal, while Barrick plans to invest more in the Democratic Republic of the Congo

All amounts are expressed in US dollars

Kinshasa, Democratic Republic of the Congo, March 24, 2022 (GLOBE NEWSWIRE) — Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX) – Africa’s largest gold mine, Kibali, has made a strong start towards 2022. , Is on the same track. Production in 2021 this year. Last year, it again replaced the reserves depleted by mining, and its abundant KZ trend of ore continues to provide significant open pit mining and underground growth opportunities.

Barrick’s president and chief executive officer, Mark Bristow, spoke with the media today and said Kibari announced many other major deliverables during the quarter. This includes signatures that hold responsibility with the surrounding community to formalize their role in identifying and overseeing mining investments in social development projects.

Another section of the Daba Road to Watsa was completed, resettlement of Karamba-Ikanva and Pamao villages began, and the first group of people moved to new homes. In terms of health and safety, so far, there have been no accidents during the quarter, malaria and HIV programs continue to reduce infection rates, and 60% of employees are vaccinated with Covid-19. I have received it. 1%.

In addition to Kibari’s long-standing support for conservation measures in one of the DRC’s major national parks, African Parks and Barrick are trying to reintroduce the white rhino into Garamba National Park. This plan, which is the largest exercise of this species, envisions the transfer of approximately 50 white rhinos to Garamba to create new populations that are important in long-term plans to protect this species. In line with Barrick’s development strategy, the mine has also partnered with the United States Agency for International Development (USAID) to launch the Galamba Alliance.

Since the acquisition of the Kibari project in 2009, its estimated mineral reserves have doubled to more than 10 million ounces.1 The following year, construction began, three hydroelectric power plants were built, and infrastructure was developed, including a road to the Uganda border. The mine went into production in 2013, but still has a mine life of more than 10 years, and in 2021 it is possible that 9.6 Moz and 3.60 g / t of 83 Mt mineral reserves have been proven.2 Of gold before considering extensions to known ore bodies and new discoveries. Since 2009, Kibari has invested approximately $ 4 billion in the Democratic Republic of the Congo in the form of royalties, taxes and permits. Infrastructure and community development. Salary; Payment to local suppliers and contractors who have prospered the local economy.

“Barrick not only develops many new growth opportunities to extend Kibari’s lifespan, but also by pursuing greenfield exploration and other opportunities nationwide to look for the next world-class discovery, to the DRC. We continue to invest. “

inquiry:

President and Chief Executive Officer
Mark Bristow
+1 647 205 7694
+44 788 071 1386

DRC Country Manager
Cyril Mutombo
+243 812 532 441

Investor-Media Relationship
Kathy du Presis
+44 20 7557 7738
Email: barrick@dpapr.com

Website: www.barrick.com

Note at the end of the book

  1. 100% past estimates as of December 31, 2010. Estimated reserves are 74 million tonnes, with a magnitude of 4.21 g / t, equivalent to 10 million ounces of gold. Past reserves have been estimated by Randgold Resources according to Australia’s Exploration Results Reporting Act, mineral resources and ore reserves (“JORC Code”). The reporting criteria for the JORC Code are functionally equivalent to National Instrument 43-101 –. Disclosure standards for mineral projects.
  2. Estimated according to National Instrument 43-101 – Disclosure Standards for Mineral Projects At the request of Canadian regulatory agencies. Estimates are 100% based as of December 31, 2021. Proved reserves are 32 million tonnes, 3.76 g / t, equivalent to 3.9 million ounces of gold. Estimated reserves of 51 million tonnes at a magnitude of 3.50 g / t are equivalent to 5.8 million ounces of gold. Complete mineral reserves and mineral resource data for all Barrick mines and projects, including tons, grades and ounces, are submitted to the Canadian State Securities Regulatory Authority for Barrick’s 2021 Annual Information Form / Form 40-F. It is described on pages 34-47 of. SEDAR (www.sedar.com) and EDGAR’s Securities and Exchange Commission (www.sec.gov).

Technical guidance
Scientific and technical information contained in this press release includes Simon Bottoms, CGeol, MGeol, FGS, FAusIMM, Mineral Resources Manager, Africa & Middle East, and Rodney Quick, MSc, Pr. Sci.Nat, Mineral Resource Management and Assessment Executive.

Precautions regarding future prospects
Certain information contained in or incorporated by reference in this press release, including information about our strategies, projects, plans, or future financial or operating results, constitutes a “forward-looking statement.” To do. All statements except historical facts are forward-looking statements. “Go ahead”, “get on track”, “continue”, “conceive”, “strategy”, “pursue”, “expect”, “will”, “maintain”, “grow”, The words “opportunity,” “design,” and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements, including but not limited to: Opportunity to increase reserves and extend the life of the Kibari mine, excluding depletion. Significant open pit mining and underground growth potential from the KZ trend of ore bodies. Expected environmental and operational benefits from Kibari’s investment in infrastructure such as hydropower plants and roads. Kibari’s health, safety and environmental protection program, including resettlement of Karamba Ikamba and Pamao villages, Covid-19 prevention protocol, initiative to secure Covid-19 vaccine, and Galamba Alliance. Barrick’s plan to reintroduce the white rhino into Garamba National Park in collaboration with USAID. And Barrick’s commitment to DRC and potential further growth opportunities.

While forward-looking statements are considered reasonable by the Company as of the date of this press release in the light of management’s experience and perceptions, they are inevitably important in relation to the factors listed below: It is based on many estimates and assumptions, including various estimates and assumptions. Current conditions and expected developments are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors can cause actual results to differ materially from those predicted in forward-looking statements, and such statements and information should not be overly relied upon. Such factors include, but are not limited to: Fluctuations in spot and forward prices of gold, copper, or other specific commodities (silver, diesel fuel, natural gas, electricity, etc.). The speculative nature of mineral exploration and development. Changes in mineral production performance, development, and exploration success. Future exploration results may not match our expectations. The risk that the exploration data is incomplete and may require significant additional work to complete further assessments. This includes, but is not limited to, drilling, engineering, socioeconomics research and investment. Risk of loss due to war, terrorism, sabotage, and civil war. The steps required before distributing cash and equivalents held in Kibali, a bank of the Democratic Republic of the Congo. Risks associated with projects that are in the early stages of evaluation and require additional engineering or other analysis. Failure to comply with environmental, health and safety laws and regulations. Timing of failure to receive or comply with the required permits and approvals. Uncertainty about whether some or all of Barrick’s investment and projects will meet our capital allocation targets and internal hurdle rates. Changes in national and local laws, taxes, regulations or regulations, and / or changes in the management of laws, policies and practices, property expropriation or nationalization, and in the DRC and other jurisdictions to which the Company or its affiliates belong. Political or economic development There is a possibility of doing business or continuing business in the future. Damage to the company’s reputation due to the occurrence of actual or recognized events, including negative publicity regarding the handling of the company’s environmental issues or dealings with community groups. Risks associated with new illnesses, epidemics, and pandemics, including the impact and potential impact of the global Covid-19 pandemic. Proceedings and legal and administrative procedures. Employee relationships, including the loss of key employees. Increased costs and physical risks, including extreme weather events and resource depletion associated with climate change. Increased availability and costs associated with mining inputs and labor. Barrick also warns that the guidance could be affected by the unprecedented business and social turmoil caused by the Covid-19 epidemic. In addition, there are risks and hazards associated with mineral exploration, development and mining operations, including environmental hazards, occupational accidents, anomalous or unexpected formations, pressures, depressions, floods and gold bullion, copper cathodes or gold or copper concentrates. .. Loss (and insufficient insurance to cover these risks, or the risk of not being able to get insurance).

Many of these uncertainties and contingencies may affect our actual results, and the actual results are expressed or expressed in statements regarding future prospects made by or on our behalf. It can be very different from what is implied. Readers should note that forward-looking statements do not guarantee future performance. All forward-looking statements made in this press release are qualified by these notes. The latest Form 40-F has been submitted to the SEC and Canadian State Securities Regulators for more information on some of the factors underlying the forward-looking statement and the risks that may affect Barrick’s capabilities. / Please refer to the annual information form specifically. 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 as a result of new information, future events, or otherwise, except as required by applicable law.


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Kibari goes ahead, Canadian Business Journal, while Barrick plans to invest more in the Democratic Republic of the Congo

Source link Kibari goes ahead, Canadian Business Journal, while Barrick plans to invest more in the Democratic Republic of the Congo

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