TORONTO, ONTARIO--(Marketwired - Sep 25, 2015) - Barrick Gold Corporation (ABX.TO)(ABX.TO) (Barrick or the "company") today announced that restrictions on processing activities at the Veladero mine in San Juan province, Argentina, have been lifted.
A local court previously restricted the addition of new reagents to the mine's heap leach circuit following the failure of a valve on a pipe carrying cyanide solution at the leach pad, which led to a release of solution.
The safety of people and the environment has been the company's top priority since the faulty valve was detected. Barrick immediately implemented a comprehensive downstream water monitoring program. This monitoring, as well as testing results from an independent third-party laboratory, have confirmed that there are no risks to the health of downstream communities as a result of this incident. These findings are consistent with independent water testing results released by other third parties in San Juan province, including the Public Health Department and the state water distribution company.
A series of additional preventative measures and controls have been implemented at the leach pad to ensure it is safe to resume full operations. An investigation into the root causes of this incident remains underway.
Barrick does not anticipate any material impact to production at Veladero as a result of this incident.
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 word "anticipate" 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, copper or certain other commodities; changes in national and local government legislation, taxation, controls, regulations, expropriation or nationalization of property and political or economic developments in Argentina and other jurisdictions in which the company 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; diminishing quantities or grades of reserves; operating or technical difficulties in connection with mining or development activities, including disruptions in the maintenance or provision of required infrastructure and information technology systems; damage to the company's reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the company's handling of environmental matters or dealings with community groups, whether true or not; the speculative nature of mineral exploration and development; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; fluctuations in the currency markets; litigation; contests over title to properties, particularly title to undeveloped properties, or over access to water, power and other required infrastructure; and employee relations.
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 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 applicable law.