Chilean Court Issues Ruling on Pascua-Lama
TORONTO, ONTARIO -- (Marketwired) -- 07/15/13 -- Barrick Gold
Corporation (NYSE:ABX)(TSX:ABX) (Barrick or the "company") reports
that the Copiapo Court of Appeals has today ruled that the company
must complete Pascua-Lama's water management system in compliance
with the project's environmental permit to the satisfaction of
Chile's Superintendence of the Environment (Superintendencia del
Medio Ambiente or "SMA") before resuming construction activities in
The company has submitted a plan, subject to review by Chilean
regulatory authorities, to construct the project's water management
system in compliance with permit conditions for completion by the end
of 2014, after which Barrick expects to resume remaining construction
works in Chile.
The ruling relates to a constitutional rights protection action filed
in September 2012 on behalf of four indigenous communities.
Barrick is committed to operating at the highest environmental
standards at all of its operations around the world, including at
Pascua-Lama, and is working diligently to meet all regulatory
requirements at the project.
Barrick's vision is to be the world's best gold mining company by
operating in a safe, profitable and responsible manner.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
Certain information contained in this press release, including any
information as to our plans, constitutes "forward-looking
statements". All statements, other than statements of historical
fact, are forward-looking statements. The words "expect" and "plan"
and similar expressions identify forward-looking statements.
Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable by the
company, 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. Such factors include,
but are not limited to: fluctuations in the spot and forward price of
gold, silver, copper or certain other commodities (such as diesel
fuel and electricity); changes in national and local government
legislation, taxation, controls, regulations, expropriation or
nationalization of property and political or economic developments in
Canada, the United States, Chile, Argentina and other jurisdictions
in which the company does or may carry on business in the future;
increased costs, delays, suspensions and technical challenges
associated with the construction of capital projects; 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 our credit ratings; the impact of
inflation; fluctuations in the currency markets; operating or
technical difficulties in connection with mining or development
activities; the risks of obtaining necessary licenses or permits;
contests over title to properties; the availability and increased
costs associated with mining inputs and labor; and litigation.
Readers are cautioned that forward-looking statements are not
guarantees of future performance. Any 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 discussion of some of the
factors underlying forward-looking statements.
The company 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
INVESTOR CONTACT: Amy Schwalm
Vice President, Investor Relations
MEDIA CONTACT: Andy Lloyd
Vice President, Communications
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