US Secretary of the Interior David Bernhardt today visited Nevada
Gold Mines’ Cortez mine where he saw first-hand its Deep South
expansion project, a highlight of the Department’s expedited
permitting process.
The Deep South project will extend the life of
Cortez, which has been in continuous operation since 1862 and now
ranks as one of the world’s Top 10 Tier One1 gold
mines. It is a key initiative for Nevada Gold Mines, a joint
venture launched earlier this month and owned 61.5% by Barrick Gold
Corporation, which operates it, and 38.5% by Newmont Goldcorp.
Nevada Gold Mines’ executive managing director
Greg Walker said the company was delighted to host Secretary
Bernhardt and noted that as Deputy Secretary, he led the process
reform which helped to expedite the review of the Deep South
environmental impact statement (EIS).
“The Deep South EIS represented a significant
enhancement of the National Environment Policy Act (NEPA)
permitting process. In the past, each EIS approval required
up to 18 months for Notices of Intent and Availability. The
industry worked with the Department of the Interior (DOI) to see if
this step in the process could be streamlined and the solution
provided by then Deputy Secretary Bernhardt delivered a material
improvement,” he said.
“Some 98% of our former, current and planned
operations are on public land administered by DOI agencies and we
maintain a close and productive relationship with the Federal
Government and the State of Nevada. The Department authorizes
mining on public land and regulates landscape-scale habitat
upliftment projects. As partners with the DOI, we support the
protection of sage-grouse and rehabilitation of their habitat as
well as an outcome-based grazing pilot program, to benefit the land
and local communities.”
Walker said Nevada Gold Mines was destined to be
one of the world’s greatest gold mining operations and planned to
mine several world-class projects in its immediate and longer-term
future. These include newly identified deposits at Goldrush,
Robertson and perhaps Fourmile, as well as the expansion of the
existing ore bodies at Cortez Hills, Pipeline and other
locations. These growth projects will continue to provide a
broad range of employment opportunities for years to come.
All these projects, he said, are dependent on the NEPA process and
its continued improvement.
“Our mission is to create sustainable, long-term
value for all stakeholders, not least the state and people of
Nevada by combining best assets with best people. To achieve
this we are committed to continue building on our education,
training and upskilling programs which involve scholarships,
bursary schemes, such as leadership development and Science
Technology Engineering Art Math (STEAM) initiatives in school and
university education and vocational training institutions, as well
as on the job training with a strong focus on America’s workers,”
he said.
Enquiries:
Mark Bristow President and CEO +1 647 205 7694 +44 788 071
1386Website: www.barrick.com |
Greg Walker Executive Managing Director Nevada Gold Mines +1 702
526 3194 |
Kathy du PlessisBarrick Investor and Media Relations+44 20 7557
7738barrick@dpapr.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 “believe”, “expect”, “plan”,
“project”, “mission”, “potential”, “may”, “will”, “can”, “should”,
“could”, “would”, and similar expressions identify forward-looking
statements. In particular, this press release contains
forward-looking statements including, without limitation, with
respect to: (i) extension to the life of the Cortez mine as a
result of the Deep South Project; (ii) the potential of the mining
operations and growth projects of Nevada Gold Mines; (iii)
potential mineralization, and potential for growth projects to
provide employment opportunities; and (iv) Nevada Gold Mine’s
mission to create long-term value for stakeholders.
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; disruption of supply routes which may cause delays in
construction and mining activities at Barrick’s more remote
properties; whether benefits expected from recent transactions are
realized; diminishing quantities or grades of reserves; increased
costs, delays, suspensions and technical challenges associated with
the construction of capital projects; 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; 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 targeted investments and projects will meet
the Company’s capital allocation objectives and internal hurdle
rate; 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; the impact of inflation;
fluctuations in the currency markets; 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 Canada, the United States, and other
jurisdictions in which the Company or its affiliates do or may
carry on business in the future; 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; 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; litigation and legal and administrative
proceedings; contests over title to properties, particularly title
to undeveloped properties, or over access to water, power and other
required infrastructure; business opportunities that may be
presented to, or pursued by, the Company; our ability to
successfully integrate acquisitions or complete divestitures; risks
associated with working with partners in jointly controlled assets;
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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