Barrick Gold Corp.: Chilean Supreme Court Issues Ruling on Pascua-Lama
September 26, 2013 (Source: Marketwired) — Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) (Barrick or the “company”) reports that the Supreme Court of Chile has issued a ruling that upholds the environmental approval for the Pascua-Lama project in Chile. Consistent with an earlier decision by the Copiapo Court of Appeals, the Supreme Court ruling requires the company to 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 Chile.
The ruling concludes a constitutional rights protection action filed in September 2012 on behalf of four indigenous communities.
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Barrick is committed to operating at the highest environmental standards at all of its operations around the world, including at Pascua-Lama. The company is pleased that the ruling allows the project to advance in compliance with all legal and regulatory requirements.
Barrick has submitted a plan to Chilean regulatory authorities which estimates completion of the water management system by the end of 2014. The estimated timeframe for completion of these works is dependent on regulatory approval of specific permit applications.
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”, “estimate” 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 applicable law.
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