All amounts expressed in US dollars
Noting that all Morila employees had been re-employed by
Barrick has been the operator of the mine and the sale is in line with its policy of selling non-core assets to concentrate on Tier One mines – those with the capacity to produce at least 500,000 ounces of gold annually for more than 10 years in the lower half of the industry’s cost curve. Bristow said Barrick remained committed to its partnership with
The discovery and development of Morila served as the springboard for the Barrick legacy company Randgold Resources’ expansion into
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Certain information contained in this press release, including any information as to Barrick’s strategy, 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 “would”, “benefit”, “extend”, “remain”, “commit” and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to the anticipated benefits from the transaction including the potential extension of the life of the Morila gold mine and related benefits for the community and country. 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 Barrick 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); risk of loss due to acts of war, terrorism, sabotage and civil disturbances; timing of receipt of, or failure to comply with, necessary permits and approvals, including acknowledgment of the transaction by the state of
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