Barrick’s Tanzanian Mines on Track for Production Guidance, Well-Placed to Extend Lives - Seite 2

“Since Barrick launched a business development program in Tanzania, we’ve continued to empower the participating enterprises, unlocking more opportunities to expand our mines’ local content spend which has increased from 26% of their total expenditure in the first quarter of this year to 40% in the second. In the year to date, Barrick has invested 73% of its total spend with Tanzanian companies, 44% of which went to local businesses,” Bristow said.

“It’s also worth noting that thanks to our policy of employing and upskilling host country nationals, 97% of our workforce here are Tanzanians, 40% of whom were hired from the mines’ surrounding communities. Recently, for example, Bulyanhulu recruited 19 mining and process plant trainees through their village councils.”

In partnership with the Tanzanian health authorities, Barrick is ensuring the continued roll-out of Covid-19 vaccines. So far, 12% of its workforce in the country have been vaccinated.

Since Barrick formed its pioneering partnership with the government through the Twiga partnership in 2020, it has paid $118 million in salaries, $496 million in taxes, levies and royalties and $609 million for locally sourced goods and services. It has also paid a maiden cash dividend of $250 million.

Enquiries

President and CEO
Mark Bristow
[phone]
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COO, Africa and Middle East
Willem Jacobs
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Investor and Media Relations
Kathy du Plessis
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Email: [e-mail]

Website: www.barrick.com

Cautionary Statement on Forward-Looking Information

Certain information contained or incorporated by reference in this press release, including any information as to our 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 “on track”, “set to meet”, “expect”, “unlock”, “scheduled”, “will”, “continue”, “ensure” and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: production guidance and performance at North Mara and Bulyanhulu and the potential for those mines to replace depleted reserves; expected additions to reserves from the successful conversion and optimization of mineral resources at Bulyanhulu; anticipated benefits from Bulyanhulu’s new photon assay laboratory and operational improvements at North Mara; planned investments and construction in the local community and public health initiatives to support the roll-out of Covid-19 vaccines; and contributions to the local economy, including local content programs and spending.