LOULO,
In 2022 it maintained its historically consistent performance by meeting its production guidance and solidified its long-term outlook and is expected to replace its mined ounces for the fourth successive year. The initial development of a third underground mine at Gounkoto was commissioned and is on track to start ore production from stoping in the second quarter of this year. Key geological structures within the Loulo district have indicated the potential for further discoveries.
Speaking to media here today, Barrick president and chief executive
'We continue to promote and develop our local partnerships, creating and contracting an all-Malian joint venture to mine the new
'Host community investment is making a significant difference in the surrounding areas through the ongoing development of infrastructure, agriculture, education and healthcare. Malian nationals account for 100% of the complex's management team and 96% of its workforce. Our drive to diversify our employment profile is delivering results and three of Loulo-Gounkoto's female mining engineers have been enrolled in the management development programme at
In line with Barrick's global green energy strategy, Loulo-Gounkoto is expanding its solar power plant by 40MW, targeting an annual CO(2) -e saving of more than 62kt. Since its commissioning in
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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 'continue', 'expect', 'on track', 'maintain', 'commitment', 'create', 'target', 'value', and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: Loulo-Gounkoto's production guidance and performance including its ability to replace reserves depleted by mining; the development of the third underground mine at Gounkoto including anticipated benefits and the timeline for production; the potential for further discoveries and investments in exploration at Loulo-Gounkoto's to extend the life of mine; Barrick's commitment to recruiting and developing host country nationals at Loulo-Gounkoto; Barrick's commitment to
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; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; risks related to 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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