Bristow | Jotup

Barrick Strengthens Zambia Partnership, Invests in Major Expansion of Lumwana Mine

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Wednesday, October 4, 2023

Workforce, Employment, Policy, Tax, Business, Ministry of Small and Medium Enterprises, Commerce and Business Environment (Romania), Ministry, Bristow, Lumwana, Mining, Republican, TSX, Copper, Small and medium enterprises in Mexico, Barrick Gold, News, NYSE, Renewable energy

LUSAKA, Zambia, Oct. 04, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) – Barrick’s transformation of its Lumwana mine into a world-class producer will provide strong impetus for the government’s thrust to revive the country’s copper industry, president and chief executive Mark Bristow said yesterday after a meeting with Zambian President Hakainde Hichilema.

Key Points:

Since Barrick took over operations at Lumwana in 2019, the mine has contributed almost $3 billion to the Zambian economy in the form of taxes, royalties, salaries and the procurement of goods and services.
“Barrick believes that its host countries are its key stakeholders and that partnering with them creates sustainable value for both of us.
Barrick is a key strategic partner on this journey.”
President Hichilema called on Barrick to prioritise local content and increase the participation of Zambian suppliers to the Lumwana mine.
He also encouraged Barrick to deploy the most advanced mining technology and invest in downstream value addition in support of the New Dawn’s vision of establishing green industrial parks in Zambia.

Twiga Partnership Shows the Transformative Impact of Mining, Says Barrick

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Friday, September 29, 2023

Workforce, Partnership, Miner, Tax, GOLD, MARA, Government, Non-governmental organization, Bristow, Developed country, Mining, TSX, Barrick, Barrick Gold, NYSE, Renewable energy, Bulyanhulu Gold Mine, North Mara Gold Mine

NORTH MARA GOLD MINE, Tanzania, Sept. 29, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) and the Tanzanian government are demonstrating how mining can be an enormous force for good when miners and their host governments work together to create sustainable value for all stakeholders, says president and chief executive Mark Bristow.

Key Points:

Since taking over the two moribund mines in 2019, Barrick has transformed them into a world-class gold mining complex making a substantial contribution to the company’s bottom line.
The mines spent 84% of their procurement budgets with local companies, and Tanzanian citizens account for 96% of their workforce.
In the same spirit of partnership, Barrick has committed $40 million to a roadbuilding program and a further $30 million to the improvement of the country’s education facilities.
“Our Twiga partnership is not only adding value to the Tanzanian economy but to the quality of the lives of the communities around its mines as they continue to grow.

Barrick Targets 2028 for First Production from Reko Diq

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Tuesday, August 1, 2023

Partnership, Mineral, Reko Diq, Metal, Bristow, Mining, TSX, Federation, Copper, Barrick Gold, NYSE

ISLAMABAD, Pakistan, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) president and chief executive Mark Bristow says with the updated feasibility study on the giant Reko Diq copper-gold project making rapid progress, the company is aiming to start production in 2028.

Key Points:

ISLAMABAD, Pakistan, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) president and chief executive Mark Bristow says with the updated feasibility study on the giant Reko Diq copper-gold project making rapid progress, the company is aiming to start production in 2028.
Speaking at the inaugural session of Pakistan’s first Minerals Summit, Bristow said the signing of the New Reko Diq agreement last year was a landmark event in the development of a mining industry in Pakistan, a process which will be accelerated by the Minerals Summit.
Barrick owns 50% of Reko Diq and is developing and will operate the mine.
The Balochistan province, which hosts the deposit, has a 25% share and the federal government holds the other 25% through state-owned entities.

A Comprehensive Multi-Year Process Extends the Life of Pueblo Viejo Mine to Beyond 2040

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Thursday, July 27, 2023

Peer review, Tax, Government, Gold, ESIA, Bristow, TSF, Biophysical environment, Dominican, TSX, Barrick Gold, Social impact assessment, NYSE, Property management

SANTO DOMINGO, Dominican Republic, July 27, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) – The Barrick operated Pueblo Viejo mine continues to advance the engineering design for the El Naranjo tailings storage facility (TSF) project which will extend its life to 2040 and beyond, president and chief executive Mark Bristow said here today1. The plant expansion and associated new TSF is designed to sustain gold production above 800koz per year (100% basis) going forward1.

Key Points:

The plant expansion and associated new TSF is designed to sustain gold production above 800koz per year (100% basis) going forward1.
Speaking at a local media briefing, Bristow said that the comprehensive engineering, environmental and community process, conducted over several years, would enable Pueblo Viejo to double the enormous contribution it had already made to the Dominican Republic’s economy.
In line with its commitment to transparency, Bristow detailed the process leading up to the issuance of the environmental licence recently received for the new TSF.
The extension of the mine’s life will allow Pueblo Viejo to continue being a major creator of value for the Dominican Republic and its people far into the future,” Bristow said.

The Positive Impact of Responsible Mining at Barrick

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Tuesday, July 25, 2023

TORONTO, July 25, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) – Effective and equitable socio-economic development worldwide would not be possible without the transformative contribution of responsible mining, Barrick president and chief executive Mark Bristow said today.

Key Points:

TORONTO, July 25, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) – Effective and equitable socio-economic development worldwide would not be possible without the transformative contribution of responsible mining, Barrick president and chief executive Mark Bristow said today.
“We believe mining is the flywheel of development and therefore the entire industry is essential to the achievement of the SDGs,” he said.
“Done right, the mining industry is a powerful force for good in the global drive for social and economic development.
At Barrick, we continue to focus on sustainable delivery across our mines and projects in 14 countries,” Bristow said.

Twiga Transforms Tanzanian Mining, Sets Standard for Industry

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Monday, July 10, 2023

Workforce, Partnership, Policy, Tax, Government, Student, Gold, Bristow, Mining, TSX, Barrick, Health, Barrick Gold, NYSE, Safety, Uranium mining, North Mara Gold Mine, Twiga Cement

NORTH MARA, Tanzania, July 10, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) – Twiga Minerals, the joint venture between the Tanzanian government and Barrick Gold Corporation, has revitalized the country’s gold mining industry through a partnership that should serve as a model for similar operations, particularly in developing regions, Barrick president and chief executive Mark Bristow said today.

Key Points:

“We settled the dispute and established Twiga as a 50:50 economic benefits sharing partnership, which also vested a 16% shareholding in each mine with the government.
In addition, it has pledged $40 million to construct a 73 kilometre road from Kahama to Kakola.
Operationally, Bristow said the Twiga complex was continuing its strong production performance and was well on track to achieve its guidance for the year.
Globally, Barrick has a policy of prioritizing local employment and at Twiga this has delivered a workforce which is 96% Tanzanian, with almost half drawn from the communities around the mines.

Kibali Set to Roll Out New 10-Year Plan on Back of Production Ramp-Up and Reserve Replacement

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Wednesday, July 5, 2023

DRC, Partnership, Policy, Tax, Congo, Government, NYSE, Gold, Democratic republic, Bristow, Garamba National Park, TSX, Barrick Gold, Tier 1, Drug, Renewable energy

KINSHASA, Democratic Republic of Congo, July 05, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) – Africa’s biggest gold mine, Kibali, stepped up production significantly in the past quarter as part of its planned ramp-up and is well on track to achieve its annual guidance. At the same time, successful exploration is expected to more than replace reserves depleted by mining again this year.

Key Points:

At the same time, successful exploration is expected to more than replace reserves depleted by mining again this year.
The mine draws most of its power from its three hydropower stations on the Kibali river.
In line with our local procurement policy, Kibali gives preference to Congolese suppliers and contractors, who to date have received $2.5 billion from the mine,” Bristow said.
Most recently we have led the drive to reintroduce white rhinos to the park, where they were last seen 13 years ago.

Successful Partnership Will Keep Gold Shining for Mali

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Sunday, July 2, 2023

Workforce, Partnership, Policy, Gold, Bristow, TSX, Growth, Barrick Gold, NYSE, Safety, Renewable energy

LOULO-GOUNKOTO, Mali, July 02, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) – The 26-year-long partnership between Barrick (previously Randgold) and the state of Mali has built the country’s gold mining industry into a world leader and positioned it strongly for further growth, president and chief executive Mark Bristow said here today.

Key Points:

LOULO-GOUNKOTO, Mali, July 02, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) – The 26-year-long partnership between Barrick (previously Randgold) and the state of Mali has built the country’s gold mining industry into a world leader and positioned it strongly for further growth, president and chief executive Mark Bristow said here today.
Speaking at a media briefing, Bristow said the Loulo-Gounkoto complex, one of the world’s top 10 gold producers, was the biggest business in terms of enterprise value in the whole of West Africa.
Loulo-Gounkoto is one of Mali’s largest taxpayers and employers, with a workforce of some 7,000, 97% of whom are Malian nationals.
Over the life of the complex the state has received more than 70% of the economic benefits it created.

Local First Policy Drives Barrick’s Procurement Practices

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Friday, June 23, 2023

TSX, GOLD, Tax, Employment, Barrick, Bristow, NYSE, Lumwana, Randgold Resources, Video game

LUMWANA, Zambia, June 23, 2023 (GLOBE NEWSWIRE) -- The Lumwana copper mine has purchased approximately $4.3 billion in goods and services from Zambian registered businesses since it went into production, in line with Barrick Gold Corporation’s (NYSE:GOLD) (TSX:ABX) local procurement and economic development practices.

Key Points:

President and chief executive Mark Bristow said Lumwana’s local procurement expenditure in 2022 was $432 million, out of a total of $520 million, which represents 83% of the mine’s total procurement spend.
Since 2019, when Barrick was reconstituted following its merger with Randgold Resources, local expenditure has increased year on year.
“Our procurement practices prioritize local companies, followed by those from the larger Zambian region.
Local employees and business partners also bring diversity to our operations and business and help us better understand customs, cultural practices and the impact our activities have on host communities,” said Bristow.

Barrick Paves the Way for Reintroduction of White Rhino to Garamba National Park

Retrieved on:

Saturday, June 10, 2023

Following more than a decade of dedicated action and support, an environment has been created where they can exist safely.

Key Points:

Following more than a decade of dedicated action and support, an environment has been created where they can exist safely.
The rhino arrived by aircraft from South Africa this week and have now been released in the park where professional staff and qualified veterinarians will regularly monitor their acclimatization.
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) was the lead donor in the translocation as part of its long-standing partnership with African Parks and Garamba National Park, Africa’s oldest wildlife park and a UNESCO World Heritage Site.
Garamba was one of the last strongholds of the now extinct in the wild northern white rhino.