Certain information contained on this Website, including any information as to Barrick’s 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 “believe”, “expect”, “anticipate”, “contemplate”, “target”, “plan”, “objective”, “aspiration”, “aim”, “intend”, “project”, “goal”, “continue”, “budget”, “estimate”, “potential”, “assume”, “schedule”, “may”, “will”, “can”, “should”, “could”, “would” and similar expressions identify forward-looking statements. In particular, this Website contains forward-looking statements including, without limitation, with respect to: Barrick’s goal to be the world’s most valued gold mining business; Barrick’s forward-looking production guidance; estimates of future cost of sales per ounce for gold and per pound for copper, all-in-sustaining costs per ounce/pound, total cash costs per ounce and C1 cash costs per pound; cash flow forecasts; projected capital, operating and exploration expenditures; mine life and production rates; our pipe-line of high confidence projects at or near existing operations; the long-term optionality to Barrick’s production base case from greenfield projects, including Donlin Gold, Norte Abierto and Pascua-Lama; the ability of investments in infrastructure and mine exploration drilling to strengthen the quality of Barrick’s production profile; the potential impacts of capital, infrastructure and operational improvements and investments; savings from our improved capital management program; potential improvements to financial and operating performance that may result from certain initiatives; our ability to convert resources into reserves; the timing of receipt of permits and other approvals; our ongoing exploration efforts; the expected timing of further studies, including prefeasibility and feasibility studies; asset sales, joint ventures and partnerships; expectations regarding future price assumptions, financial performance and other outlook or guidance; Barrick’s environmental, health and safety, corporate social responsibility (including sustainable development, community relations and security matters), and human rights programs, policies and performance; the estimated timing to achieve environmental, social and energy reduction targets; and the estimated timing and conclusions of technical reports and other studies.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Barrick as at the date such information is posted to the Website 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); 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 Canada, the United States or other countries in which Barrick does or may carry on business in the future; failure to comply with environmental and health and safety laws and regulations; timing of receipt of, or failure to comply with, necessary permits and approvals; the benefits expected from recent transactions being realized (including the Nevada Gold Mines and Acacia transactions); increased costs and physical risks, including extreme weather events and resource shortage, related to climate change; diminishing quantities or grades of reserves; 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; risks relating to disruption of supply routes which may cause delays in construction and mining activities at Barrick’s more remote properties; risks associated with Barrick infrastructure, information technology systems and the implementation of Barrick’s technological initiatives; risks associated with projects in the early stages of evaluation and for which additional engineering and other analysis is required; uncertainty whether some or all targeted investments will meet Barrick’s capital allocation objectives and internal hurdle rate; lack of certainty with respect to foreign legal systems, corruption and other factors that are inconsistent with the rule of law; risks relating to political instability in certain jurisdictions in which Barrick operates; risks associated with new diseases, epidemics and pandemics, including the effects and potential effects of the global Covid-19 pandemic; the impact of global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future cash flows; adverse changes in Barrick’s credit ratings; the impact of inflation; risks associated with working with partners in jointly controlled assets; damage to Barrick’s reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to Barrick’s handling of environmental matters or dealings with community groups, whether true or not; risks relating to operations near communities that may regard Barrick’s operations as being detrimental to them; the speculative nature of mineral exploration and development; risks that exploration data may be incomplete and considerable additional work may be required to complete further evaluation, including but not limited to drilling, engineering and socio-economic studies and investment; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; risks associated with illegal and artisanal mining; risks related to exchange and capital controls; fluctuations in the currency markets (such as Canadian and Australian dollars, Chilean, Argentinean and Dominican pesos, British pound, Peruvian sol, Zambian kwacha, South African rand, Tanzanian shilling, the West African CFA and Congolese franc, and Papua New Guinean kina versus the U.S. dollar); changes in U.S. dollar interest rates that could impact the mark-to-market value of outstanding derivative instruments and ongoing payments/receipts under interest rate swaps and variable rate debt obligations; risks arising from holding derivative instruments (such as credit risk, market liquidity risk and mark-to-market risk); litigation and legal and administrative proceedings; contests over title to properties, particularly title to undeveloped properties, or over access to water, power and other required infrastructure; business opportunities that may be presented to, or pursued by, Barrick; Barrick’s ability to successfully integrate acquisitions or complete divestitures, including Barrick’s ability to successfully reintegrate Acacia’s properties; employee relations, including loss of key employees; availability and increased costs associated with mining inputs and labor; risks related to competition in the mining industry; and risks related to impairment of Barrick’s goodwill and assets. Barrick also cautions that its 2020 guidance may be impacted by the unprecedented business and social disruption caused by the spread of Covid-19. 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 Barrick’s 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, Barrick. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements contained on this Website are qualified by these cautionary statements. Specific reference is made to Barrick’s most recent Form 40-F/Annual Information Form on file with the U.S. Securities and Exchange Commission and Canadian provincial securities regulatory authorities for a 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 on this Website.
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.