Barrick Supports Higher Education and Community Development in Zambia
22 May 2020 - 12:56AM
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX), owner and operator
of the Lumwana copper mine, has donated 10 computers to the
University of Zambia School of Mines and agreed to help repair the
Kakayindu Police Post, in line with its commitment of creating
long-term value for its host countries and communities.
Established in 1973, the University of Zambia
School of Mines offers undergraduate and postgraduate courses in
geology, mining engineering, metallurgy and mineral
processing. According to Willem Jacobs, Barrick’s chief
operating officer for Africa and the Middle East, enrolment at the
School has increased over the years, creating the need for an
expansion of its infrastructure. Jacobs says that in keeping
with the group’s policy of employing host country nationals and
upskilling them to world-class standards, Barrick has long provided
scholarships for undergraduate students. The donation of
computers is intended to assist the School in its research projects
as well as delivering computer-based course material to
students.
Additionally, Barrick has agreed to help repair
the Kakayindu Police Post, which was vandalized late last year as a
result of community unrest. The 22-person strong post
provides security to 37,000 people in the Lumwana Township and
neighboring communities.
“Barrick is driven by a commitment to contribute
positively to the development of our host countries and
communities,” says Jacobs, noting that in 2019 Lumwana employed
3,498 Zambians and contributed $272 million to the country’s
economy through taxes, salaries, procurement and community
investments.
Barrick enquiries
Country executive director ZambiaNathan Chishimba+260 977 790
108 |
Investor and media relationsKathy du Plessis+44 20 7557 7738Email:
barrick@dpapr.com |
Website: www.barrick.com
Cautionary Statement on Forward-Looking
InformationCertain information contained 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
“support”, “create”, commitment”, “contribute”, “will”, “continue”
and similar expressions identify forward-looking statements. In
particular, this press release contains forward-looking statements
including, without limitation, with respect to: Barrick’s support
for the University of Zambia School of Mines; Barrick’s commitment
to employing host country nationals and creating long-term value
for its host countries and communities including in Zambia;
Barrick’s agreement to help repair the Kakayindu Police Post for
the Lumwana Township and neighboring communities; and Barrick’s
future investments in community projects and contributions to the
Zambian economy.
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 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 Zambia and other
jurisdictions in which the Company or its affiliates do or may
carry on business in the future; lack of certainty with respect to
foreign legal systems, corruption and other factors that are
inconsistent with the rule of law; risks associated with illegal
and artisanal mining; risks associated with new diseases, epidemics
and pandemics, including the effects and potential effects of the
global COVID-19 pandemic; 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;
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; disruption of supply routes which
may cause delays in construction and mining activities; 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; 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; 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. We
disclaim 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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