In the first four months of 2020, Pueblo Viejo Dominicana
Corporation, operator of the Pueblo Viejo gold mine, has paid $185
million (approximately RD$9,870 million Dominican pesos) in direct
taxes and $9 million in indirect taxes to the Dominican Government.
These payments include advances of income taxes, net profit
interest and royalties on the sales of gold and silver paid in the
first quarter of 2020, as well as the final settlement of the 2019
fiscal year.
In an early payment this month to help contribute
to the stability of the Dominican economy and aid the country in
combatting and containing the spread of the Covid-19 pandemic,
Pueblo Viejo paid $113 million (equivalent to RD$6,120 million
Dominican pesos) to the Internal Tax Collector (DGII), despite the
Dominican Government extending its deadline for certain tax
declarations. This brings Pueblo Viejo’s total tax payments to the
Government to more than $2 billion (equivalent to RD$93,776 million
Dominican pesos) since 2013.
Pueblo Viejo's exports in the first quarter of this
year represented 37% of the country's total exports of national
goods, with a value of $399 million of a total of $1,081
million1.
Pueblo Viejo has been supporting actions to
mitigate the impact of Covid-19 in the country and the communities
near its operations. To this end, it has committed nearly $1
million (equivalent to RD$53 million Dominican pesos) to various
initiatives, including the donation of face masks, latex gloves,
gowns, hats and antibacterial gel, delivery of non-perishable food
kits to nearby communities, and the donation of 53,000 gallons of
ethyl alcohol.
“Our aim is to continue contributing to the social
and economic development of the Dominican Republic by applying our
sustainability philosophy to create long-term value for all our
stakeholders, especially the government and people of the Dominican
Republic,” said Barrick Pueblo Viejo President Juana Barceló.
About Pueblo Viejo
Pueblo Viejo is located in the Dominican Republic,
approximately 100 kilometers northwest of the capital city of Santo
Domingo, and is operated by the Pueblo Viejo Dominicana Corporation
— a joint venture between Barrick (60%) and Newmont (40%).
Development of the Pueblo Viejo project started in 2009, with first
production in 2012. The company’s workforce is 97% Dominican.
Earlier this year, the conversion of the mine’s Quisqueya 1 power
plant to natural gas was successfully commissioned. This will cut
greenhouse gases by 30% and nitrogen oxide by 85%, further reducing
Pueblo Viejo’s impact on the environment. An agribusiness project
is also planned as an additional benefit for the local
communities.
Enquiries:
Investor and media relationsKathy du Plessis+44 20
7557 7738Email: barrick@dpapr.com
Website: www.barrick.com
Endnote 1
According to the March export report issued by the
Export and Investment Center of the Dominican Republic (CEI-RD, in
Spanish).
Cautionary Statement on Forward-Looking
Information
Certain information contained in this press
release, including any information as to Barrick’s strategy 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”, “aim”, “continue”, “contribute”, “provide”,
“consider”, “will”, “challenge” and similar expressions identify
forward-looking statements. In particular, this press release
contains forward-looking statements including, without limitation,
with respect to funds to be provided to help mitigate the impact of
the Covid-19 virus in the Dominican Republic and the communities
near the Pueblo Viejo mine, Barrick’s contributions to the social
and economic of the Dominican Republic, proposed reductions in
greenhouse gas emissions from the Quisqueya 1 power plant and the
potential benefits of a proposed agribusiness project for local
communities.
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 Dominican
Republic; 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; 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.
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