All amounts expressed in US dollars
LOULO,
Speaking to media here today, Bristow said during this time its mines had contributed almost
As a Tier One1 mining complex, Loulo-Gounkoto ranks among the world’s largest gold producers, and its consistently strong performance makes it a major contributor to Barrick’s bottom line. This year successful brownfields drilling again more than replaced the reserves depleted by mining while continuing exploration has identified new high-priority targets with the potential to deliver the Loulo district’s next generation of world-class discoveries.
During the past quarter Loulo’s solar farm extension to 60 megawatts and its new battery energy storage system were commissioned, in line with Barrick’s global commitment to increasing its use of renewable energy sources. Its community development projects included the completion of a water distribution system which will serve 13,000 people in the Kunda village.
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Endnote
- A Tier One Gold Asset is an asset with a
$1,300 /oz reserve potential to deliver a minimum 10-year life, annual production of at least 500,000 ounces of gold and with all in sustaining costs per ounce in the lower half of the industry cost curve.
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 “sustains”, “discoveries”, “maintain”, “on track”, “opportunities”, “guidance”, “recognize”, “develop”, “commitment”, “deliver”, “target”, “potential”, “remain”, “can”, “will”, and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to Loulo-Gounkoto’s ability to achieve its production guidance for 2023 and maintain its production profile; Loulo Gounkoto’s productive partnership with the government of
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 diesel fuel, natural gas, and electricity); the speculative nature of mineral exploration and development; changes in mineral production performance, exploitation, and exploration successes; 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
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