All amounts expressed in US dollars
ELKO, Nevada, April 02, 2020 (GLOBE NEWSWIRE) -- Nevada Gold Mines (NGM) is working with the state of Nevada and its stakeholders to identify immediate needs and provide financial and logistical support to mitigate the impact of the Covid-19 pandemic on its local communities.
Executive Managing Director Greg Walker said NGM, the largest global gold producing complex and a joint venture between Barrick Gold Corporation (61.5%) and Newmont Corporation (38.5%) and operated by Barrick, was a committed partner of the state, the region and the community, and recognized that extraordinary times called for extraordinary measures.
“We have ensured that our operations are working as safely and responsibly as possible but it is not only our employees that we are concerned about — we are also using our resources to support our friends and neighbors, and particularly the seniors, the homeless and Native Americans,” he said.
At the State level, NGM has committed an initial $1.5 million to the Nevada Covid-19 Response, Relief and Recovery Task Force, as well as offering to support the effort through our supply chain and other resources. Recently announced by Governor Steve Sisolak, the Task Force brings together community and business leaders to help find solutions to the pandemic.
In Northern Nevada, it is developing a framework for an ‘I-80 Fund’ to assist small businesses along the I-80 Corridor affected by the Covid-19 pandemic, as well as seeking to support solutions to the childcare and rural health care challenges in the region.
In Elko, Battle Mountain, and Winnemucca, the closest towns to NGM’s operations, the JV has to date committed a total of $275,000 to support these local communities with food supplies and other basic necessities, particularly those most impacted including seniors, the homeless and Native Americans.
In Southern Nevada, it has committed $100,000 to Three Square Food Bank.
COO, North America
+1 416 307 5157
Executive Managing Director, Nevada Gold Mines
+1 702 526 3194
Kathy du Plessis
Investor and media relations
+44 20 7557 7738
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 “support”, “commit”, “ensure”, “prepare”, “develop”, “engage” and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to financial and logistical support provided by Nevada Gold Mines to mitigate the impact of the Covid-19 pandemic on its local communities and partnerships with state, regional and community 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 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 United States; 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.