Barrick president and chief executive
“Kibali is a highly cost-efficient operation with its three world-class hydropower stations supplying much of its energy requirements. They will be supplemented by a new 17MW solar plant which, when completed in 2025, will raise the renewable component of the mine’s energy mix from 81% to 93%,” Bristow said.
Kibali’s green credentials also include its continuing reduction in the use of fresh water from the
In line with Barrick’s global policy of employing and advancing host country nationals,
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Endnote 1
A Tier One Gold Asset is an asset with a reserve potential to deliver a minimum 10-year life, annual production of at least 500,000 ounces of gold and total cash costs per ounce over the mine life that are in the lower half of the industry cost curve.
Technical Information
The scientific and technical information contained in this press release has been reviewed and approved by
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 “secure”, “on track”, “opportunity”, “continue”, , “schedule”, “expect”, “will”, “growth”, and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: Kibali’s potential to replace reserves net of depletion; production guidance and performance; opportunities for growth at Kibali including potential new exploration targets for the Kibali underground; the potential to grow the mine’s mineral resource base; Kibali’s renewable power strategy and the timeline for the completion of a new solar plant and expected benefits; the anticipated environmental and operational benefits from Kibali’s investment in its infrastructure, including through a new cyanide removal plant; Kibali’s sustainability projects, including fresh water and reforestation projects and commitments to make certain investments though its social development fund; Barrick’s investment in Africa’s biodiversity including through the reintroduction of white rhinos to the Garamba national park; and Barrick’s commitment to the DRC and potential further growth opportunities.
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; disruption of supply routes which may cause delays in construction and mining activities, including disruptions in the supply of key mining inputs due to the invasion of
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
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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