Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick”) and
Newmont Goldcorp Corporation (NYSE:NEM)(TSX:NGT) (“Newmont
Goldcorp”) today announced that their joint venture in Nevada,
which will create the world’s largest gold producing complex, has
cleared all the regulatory conditions required for its completion.
The U.S. Federal Trade Commission granted an early
termination of the waiting period under the Hart-Scott-Rodino Act
on April 19, 2019.
The new business, yet to be named, will be owned
61.5% by Barrick and 38.5% by Newmont Goldcorp, and will be
operated by Barrick. The operations making up the joint venture
produced in excess of 4 million ounces of gold in 2018, more than
three times the next largest gold mine.
Barrick President and Chief Executive Officer, Mark
Bristow, said that practical measures required to integrate the
joint venture assets and establish the new business are now being
taken and are anticipated to be complete within the current
quarter.
“The joint venture agreement represents a historic
accord between our companies that will unlock the enormous
geological potential of the Nevada goldfields and maximize its many
value-creating opportunities,” Bristow said.
Gary Goldberg, Newmont Goldcorp’s chief executive
officer, said, “By combining our operations and assets in Nevada we
will be able to extend profitable production, lower costs and
create new opportunities for our stakeholders in the region.”
Barrick Enquiries:
President and Chief Executive OfficerMark Bristow+1
647 205 7694+44 788 071 1386
Senior Executive Vice-President and Chief Financial
OfficerGraham Shuttleworth+44 1534 735 333+44 779 771 1338
Investor and Media RelationsKathy du Plessis+44 20
7557 7738Email: barrick@dpapr.com
Website: www.barrick.com
Cautionary Statement on Forward-Looking
Information
Certain information contained in this press
release, including any information as to Barrick’s strategy, 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
“will”, “anticipate”, “unlock”, “potential”, “opportunities” and
similar expressions identify forward-looking statements. In
particular, this press release contains forward-looking statements
including, without limitation, with respect to: the proposed Nevada
joint venture and the expected impact of such a transaction,
including estimates of the proposed Nevada joint venture’s annual
gold production and other value-creating opportunities (including
estimated synergies and financial benefits); and the expected
timing for the establishment and scope of the proposed Nevada joint
venture, including satisfaction of closing conditions.
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: fluctuations in the spot and forward price
of gold, copper, or certain other commodities (such as silver,
diesel fuel, natural gas, and electricity); the ability to realize
the anticipated benefits of the proposed joint venture or
implementing the business plan for the proposed joint venture,
including as a result of a delay in its completion or difficulty in
integrating the Nevada assets of the companies involved; the risk
that the conditions to formation of the proposed joint venture will
not be satisfied; the risk that the focus of management’s time and
attention on the proposed joint venture may detract from other
aspects of the respective businesses of Barrick and Newmont
Goldcorp; the risks associated with each of Barrick’s and Newmont
Goldcorp’s brand, reputation and trust; the speculative nature of
mineral exploration and development; changes in mineral production
performance, exploitation, and exploration successes; diminishing
quantities or grades of reserves; 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 Canada and the United States; timing of
receipt of, or failure to comply with, necessary permits and
approvals; failure to comply with environmental and health and
safety laws and regulations; litigation; increased costs, delays,
suspensions, and technical challenges associated with the
construction of capital projects; 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; local and global political and economic
conditions; 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.
Grafico Azioni Barrick Gold (TSX:ABX)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Barrick Gold (TSX:ABX)
Storico
Da Apr 2023 a Apr 2024