All amounts expressed in US dollars
Much of the electricity that drives Kibali is already supplied by its three hydropower stations. Once the mine’s new 16 megawatt solar plant and additional battery energy storage infrastructure, designed to back up the hydropower supply during the region’s dry season, are commissioned, it is expected the mine’s overall renewable electricity supply will increase from 81% to 85%, and for six months of the year its electricity demand will be met entirely by renewable energy.
“Bearing in mind that Kibali is also a leader in automation, the mine is a real role model for mining in
"This partnership has been particularly beneficial for the DRC. Our total in-country investment to date in the form of royalties, taxes, dividends and payments to local suppliers amounts to
Operationally, Kibali achieved its production guidance for 2023, and set a new annual throughput record in the process. It is also well on track to again successfully replace the reserves mined during the year. Kibali is a standout example of what can be achieved through our commitment to partnering with our host countries and local communities, and we stand ready to work with the Government to grow our investments and development projects in the DRC.
Enquiries:
DRC country manager
+243 812 532 441
Investor and Media Relations
+44 20 7557 7738
Email: barrick@dpapr.com
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 “plan”, “on track”, “expect”, “progress”, “develop”, “promote”, “continue”, “grow”, “will”, and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: Kibali’s potential to continue to replace reserves net of depletion; Kibali’s renewable power strategy and anticipated benefits from the completion of a new solar farm and battery energy storage system; Kibali’s status as one of the greenest mines in
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 the DRC and other jurisdictions in which the Company or its affiliates do or may carry on business in the future; changes in mineral production performance, exploitation, and exploration successes; the possibility that future exploration results will not be consistent with the Company’s expectations; disruption of supply routes which may cause delays in construction and mining activities, including disruptions in the supply of key mining inputs due to the invasion of
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
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.
Source:
2024 GlobeNewswire, Inc., source