In an update of the company’s press release of March 6, Barrick
Gold Corporation (NYSE:GOLD)(TSX:ABX) said today emergency response
plans for dealing with the Covid-19 pandemic have been stepped up
at all its sites and offices across the world.
President and Chief Executive Mark Bristow said the
company was closely monitoring the very fluid situation, constantly
updating scenarios, reviewing the latest guidance from the
international medical community and engaging with its host
governments and states. The corporate executive and site management
teams engage continuously to monitor the situation and daily
updates are received from each of the sites and offices.
All non-essential business travel has been
suspended and non-essential projects have been curtailed. In line
with directives from our host governments and the international
health authorities, we have put measures in place to mitigate the
risk of infection while ensuring a safe environment for operations
to continue as usual. We have extended our 24-hour call service to
communities and the families around our operations in Argentina and
have implemented similar response services across the group’s
operations. Similarly, we are observing new industry guidelines
regarding social distancing and have increased sanitation measures
at our mines and offices.
“Barrick has a strong culture of caring for the
welfare of its employees and communities. Our financial strength,
well-established prevention practices and procedures, and the
experience we gained from dealing with two Ebola pandemics around
our African operations, will stand us in good stead as we face this
new and unprecedented challenge,” Bristow said.
Our actions also extend beyond our mine gates. In
our host communities we have been liaising with local and regional
clinics and hospitals to make sure they have access to information
and advice. We are also providing additional supplies and equipment
to make sure they are well resourced should an outbreak occur.
“In addition to protecting our people, we have
taken measures to support the sustainability of the business. As
shared in our March 6 release, we have increased stock levels for
key supplies and equipment to a minimum of three months, identified
alternative suppliers and shipping routes, and put in place
contingency plans for clearing and offloading. To date, placed and
forecast orders are still intact and there have been no hold-ups in
our supply chain.”
Barrick contact:
Investor and media relationsKathy du Plessis+44 20
7557 7738Email: barrick@dpapr.com
Website: www.barrick.com
Cautionary Statement on Forward-Looking
Information
Certain information contained in this news release, including
any information as to Barrick’s strategy, emergency response 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
“mitigate”, “ensure”, “support”, “prepare”, “monitor”, “forecast”,
“engaged” and similar expressions identify forward-looking
statements. In particular, this news release contains
forward-looking statements including, without limitation, with
respect to: (i) Barrick’s financial strength, prevention practices
and procedures, and experience gained from prior pandemics; (ii)
preparations for the Covid-19 virus; and (iii) measures taken to
prevent and/or mitigate the impact of the disease at or near
Barrick’s mines and support the sustainability of its business
including through the development of crisis management plans,
increasing stock levels for key supplies, monitoring of guidance
from the international medical community, employee counseling and
screening and engagement with local communities and
authorities.
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 news
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: the risks associated with Covid-19 and
other infectious diseases presenting as major health issues;
failure to comply with environmental and health and safety laws and
regulations; 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; operating or
technical difficulties in connection with mining or development
activities, including geotechnical challenges, and disruptions in
the maintenance or provision of required infrastructure and
information technology systems; 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 the jurisdictions in which Barrick
operates; lack of certainty with respect to foreign legal systems,
corruption, and other factors that are inconsistent with the rule
of law; 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; litigation and legal and
administrative proceedings; damage to the Barrick’s reputation due
to the actual or perceived occurrence of any number of events,
including negative publicity with respect to the Barrick’s handling
of environmental matters or dealings with community groups, whether
true or not; the impact of global liquidity and credit availability
on the timing of cash flows and the values of assets and
liabilities based on projected future cash flows; adverse changes
in our credit ratings; the impact of inflation; contests over title
to properties, particularly title to undeveloped properties, or
over access to water, power, and other required infrastructure;
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. 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
news 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 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 news
release.
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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