Toronto, December 13, 2022 – Barrick
Gold Corporation (NYSE:GOLD)(TSX:ABX) today said it understood that the Leigh Day law firm, in conjunction with a UK-based
corporate watchdog known
as RAID, has brought or intends to bring a claim in the UK against the
London Bullion Market Association in connection with the alleged killings of two individuals in the vicinity of the
North Mara gold mine in Tanzania by police acting on its behalf. Barrick is not a party to these proceedings.
Barrick president and chief executive
Mark Bristow said the group was proud of its human rights record around
the world and of North Mara’s
strong working relationship with the communities around the mine. Many of the mine’s employees have been drawn from the surrounding villages and in
line with Barrick’s other operations, North Mara prioritises local
employment and procurement.
“While the
vast majority of local residents are law-abiding, there are rogue bands, armed
and well-organised, who from time
to time invade North Mara to steal gold-bearing rock, presenting a serious risk
to the safety of mine personnel and community members
in the process,” Bristow said.
“As
recently as last month, North Mara was attacked by an armed force of almost 100
men. Despite the police’s attempts to repel them, 71 managed to
scale the site’s 9-metre-high perimeter wall and engaged with the mine’s unarmed security personnel. The police eventually removed them but one
of the invaders suffered fatal injuries. Two
of the policemen were also injured. Barrick made a public announcement about
the incident at the time. This was far from being a once-off
occurrence. North Mara lives with the
constant threat of such invasions,” Bristow said.
Bristow
said Barrick had frequently made it clear that North Mara’s security personnel
are unarmed and that the mine does
not supervise, direct, control or instruct any mission, assignment or function
of the Tanzanian police force, which is a state institution.
Bristow
said Barrick was troubled by RAID’s involvement in the litigation as that
organisation had a long history of making
unfounded allegations about purported human rights abuses at North Mara. The current matter was the latest in a series of lawyer-driven
litigation concerning security incidents at and around the mine. Barrick was also concerned that vulnerable members of the local communities could be persuaded to make legally
meritless claims outside
their country in the hope of obtaining compensation.
“RAID
does not have a presence in Tanzania and has shown no inclination to visit the
mine, despite the personal invitations
I have extended to them, most recently in July this year. Last month a planned visit was cancelled
48 hours before RAID was expected on
site. We remain willing to host such
a visit so that RAID can raise their concerns
with the mine’s management, the police, local administrators and community
leaders. It is worth noting that in a recent meeting we had with the
leaders of the eleven villages around North Mara, they said they had no knowledge of RAID or the work it purports
to do in their communities, and rejected the organisation allegations as baseless,” Bristow said.
Many
of the mine’s workers are drawn from neighbouring villages – in line with
Barrick’s other operations, North Mara
prioritises local employment – and the mine has a good relationship with its
community, which it supports through continuing investment in healthcare, education and infrastructure development projects.
Barrick Enquiries
Corporate +255 754 711 Email: [email protected] | Investor and media Kathy du Plessis +44 20 7557 7738 Email: [email protected] |
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 “target”, “set to achieve”, “looking to expand”, “potential”, “future,” “continue”,
“improve”, “would”, “commit”, “advance”, “generate”, “expect”, “will”, and similar expressions identify
forward-looking statements. In particular, this press release contains
forward-looking statements including,
without limitation, with respect to: expected production and cost levels for
the North Mara and Bulyanhulu mines
and their Tier One potential as a combined complex; Barrick’s partnership with
the Government of Tanzania under the
framework agreement; the ramp-up of production at North Mara and Bulyanhulu,
optimization of production and fleet
upgrades; potential mine life extensions, resource expansion and new
development opportunities identified through
drilling and other exploration activities; planned investments by Barrick in Tanzania including to develop healthcare, education and infrastructure; Barrick’s contributions to the local economy, including
local hiring and procurement programs
and spending as well as anticipated contributions to value-adding national
projects.
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; failure to comply with environmental and health and safety laws and regulations; timing of receipt of, or failure to comply with, necessary permits
and approvals; uncertainty whether some or all of the targeted
investments and projects
will meet the Company’s capital
allocation objectives and internal hurdle rate; 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 Tanzania and other jurisdictions in which the Company or its affiliates do or may carry on business in the future; our ability to
convert resources into reserves; increased costs, delays, suspensions and technical challenges
associated with the construction of capital projects; risks associated with
working with partners in jointly
controlled assets; 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; risks associated with new diseases, epidemics and pandemics, including the effects and potential
effects of the global Covid-19 pandemic; litigation and legal and
administrative proceedings; employee
relations including loss of key employees; increased costs and physical risks,
including extreme weather events and
resource shortages, related to climate change; and availability and increased
costs associated with mining inputs
and labor.
Barrick also cautions that its guidance may be impacted by the
unprecedented business and social disruption caused by the spread of Covid-19. 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.
Specificreference
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.
Barrickdisclaims
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.
