All amounts expressed in US dollars
BULYANHULU,
North Mara’s transition to owner-mining is successfully ramping up its ongoing open pit expansion with improved efficiencies and costs, while technological advances in the underground operation are increasing productivity. The restart of mining at the Gena pit is on track. At Bulyanhulu the main focus is on ramping up the development of its declines to access the new
Briefing media and other stakeholders here today, Barrick president and chief executive
“Today the mines are recognized by both the government and communities as socially responsible businesses creating and sharing enormous benefits for all their stakeholders, and as a key partner in Tanzania’s socio-economic development,” he said.
“Last year North Mara was officially recognized as Tanzania’s largest taxpayer and Bulyanhulu was awarded the Best Compliant Employer prize by the
Since the take-over in 2019, Barrick has pumped
As the mines have grown they have continued to prioritize local employment. Their workforce is already 96% Tanzanian, with 45% of new hires drawn from the surrounding communities. Through their community development committees, the mines have invested more than $10 million in projects to improve healthcare, education, access to potable water and the road infrastructure.
Barrick Enquiries
Corporate communications and country liaison manager
Georgia Mutagahywa
+255 754 711 215
Email: georgia.mutagahywa@barrick.com
Investor and media relations
+44 20 7557 7738
+27 83 266 5847
Email: barrick@dpapr.com
Website: www.barrick.com
Endnote 1
On a 100% basis.
Endnote 2
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.
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 “potential”, “create”, “continue”, “opportunity”, “on track”, “future prospects”, “projects”, “look forward”, “continue”, “would”, “will”, and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: future production and cost levels for the North Mara and Bulyanhulu mines and their Tier One potential as a combined complex; opportunities to grow mineral reserves at North Mara and Bulyanhulu through exploration; the anticipated benefits of North Mara’s open pit expansion project and increased productivity from the underground operation through optimization and technological advancements; the potential for Barrick’s partnership with the Government of
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; risks associated with projects in the early stages of evaluation, and for which additional engineering and other analysis is required; 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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