Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) – Effective and
equitable socio-economic development worldwide would not be
possible without the transformative contribution of responsible
mining, Barrick president and chief executive Mark Bristow said
today.
Speaking at the group’s third annual
Sustainability Update, Bristow said Barrick’s
sustainability strategy was geared to the United Nations’
Sustainable Development Goals (SDGs), and in line with its
commitment to transparency, its recently published
Sustainability Report for 2022 showed how its
operations contributed to or impacted on specific SDGs.
“We believe mining is the flywheel of development
and therefore the entire industry is essential to the achievement
of the SDGs,” he said.
Barrick’s sustainability executive, Grant Beringer,
said the group was also making progress towards complete
conformance with the latest best practices, including the
International Council on Mining and Metals’ Performance
Expectations, the World Gold Council’s Responsible Gold Mining
Principles and the Global Industry Standard on Tailings Management.
It continues to meet or exceed its environmental targets, including
recycling and reusing water — up to 83% from 80% in 2021 — and
reducing greenhouse gas emissions by 6% year on year.
“We believe the mining industry is a catalyst for
socio-economic development through the infrastructure we build, the
jobs we create, the businesses we support through our supply chains
and the investments we make in local communities. Last year we
distributed more than $15 billion in economic value, almost $11
billion of which stayed in our host countries. A further $36
million was invested in community development projects,” Beringer
said.
The group’s current key focus areas are: using its
purchasing power to drive down Scope 3 emissions from suppliers;
developing a tool to measure its contribution to the conservation
and regeneration of biodiversity; continuing to provide ESG raters
with the latest sustainability-related information; and progressing
the environmental and social studies at the giant Reko Diq project
in Balochistan, Pakistan, where it is already delivering on its
community development commitments, far ahead of the targeted first
production in 2028.
“Done right, the mining industry is a powerful
force for good in the global drive for social and economic
development. At Barrick, we continue to focus on sustainable
delivery across our mines and projects in 14 countries,” Bristow
said.
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 financial or operating
performance, constitutes “forward-looking statements”. All
statements, other than statements of historical fact, are
forward-looking statements. The words “impact”, “contribution”,
“commitment”, “believe”, “continue”, “progress”, “catalyst”,
“focus”, “progressing”, “delivering”, “can” and similar expressions
identify forward-looking statements. In particular, this press
release contains forward-looking statements including, without
limitation, with respect to: Barrick’s sustainability strategy and
vision; Barrick’s conformance with international best practices
including with respect to the ICMM Performance Expectations, World
Gold Council’s Responsible Gold Mining Principles and the Global
Industry Standard on Tailings Management, Barrick climate strategy
and approach to managing climate risks; Barrick’s greenhouse gas
emission reduction targets; the timeline for first production and
community development commitments related to the Reko Diq project,
and Barrick’s environmental, health and safety, corporate social
responsibility and human rights programs, policies and performance,
including regarding local community relations, economic
contributions and education and employment initiatives.
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; increased
costs and physical and transition risks related to climate change,
including extreme weather events, resource shortages, emerging
policies and increased regulations relating to related to
greenhouse gas emission levels, energy efficiency and reporting of
risks; 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; the
impact of inflation, including global energy cost increases
following the invasion of Ukraine by Russia; 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; and
employee relations including loss of key employees. 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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