Barrick Prepared for COVID-19
March 06 2020 - 5:16AM
Drawing on experience gained combating Ebola outbreaks around its
African operations, Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX)
has increased its site-specific emergency response plans as well as
regional crisis management plans to deal with any manifestation of
COVID-19 in or near its mines globally.
The company said it had counselled all employees
about the symptoms of the virus and the risk of contracting the
infection. Access to each site across the group is strictly
controlled and visitors, employees and contractors are routinely
screened before and on arrival. Emergency medical procedures and
facilities are in place across the organization.
Barrick is closely monitoring the situation,
engaging with health authorities and tracking updates from the
international medical community. Thus far, it has not deemed it
necessary to introduce any travel restrictions.
Supplies to its mines have not been affected but
the company is increasing its inventory of key commodities to above
their normal level. Placed and forecast orders are intact.
Barrick said it has a long record of investing
in health in the areas around its operations and consequently is
engaged with a high level of cooperation from local communities and
authorities, as was the case with respect to previous epidemics it
had managed.
Enquiries:
Kathy du PlessisInvestor and media relations+44 20
7557 7738Email: barrick@dpapr.com
Website: www.barrick.com
Cautionary Statement on Forward-Looking
Information
Certain information contained in this press
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 “prepare”, “monitor”,
“forecast”, “engaged” and similar expressions identify
forward-looking statements. In particular, this press release
contains forward-looking statements including, without limitation,
with respect to: Barrick’s preparations for the COVID-19 virus and
measures taken to prevent and/or mitigate the impact of the disease
at or near its mines including through the development of crisis
management plans, 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
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: 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; 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; 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 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 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.
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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