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Barrick Mining Corporation (NYSE:B)(TSX:ABX) today announced the appointment of Sebastiaan Bock as Chief Executive Officer, Rest of World, effective immediately. Mr. Bock will lead Barrick's gold and copper operations and projects outside North America and will report to Mark Hill, President and Chief Executive Officer of Barrick.
Barrick's rest of world portfolio includes gold and copper assets across Africa, the Middle East, Latin America, and Asia Pacific. It produces more than two million gold equivalent ounces a year and is expected to grow by more than 20% over the next three years.
John Thornton, Barrick's Chairman, said, "Outside North America, our Rest of World portfolio has a distinct advantage: our ability to work with Chinese partners, including joint mine ownership and co-investment. This can enable higher efficiency; broader access to advanced technologies, including those revolutionizing exploration, operations, processing, and information management; access to leading equipment suppliers and comprehensive and agile supply chain solutions; and partnership opportunities including shared infrastructure, resources, and solutions, to derisk and improve outcomes."
"Seb's experiences and accomplishments are tailor-made for Barrick to build on this unique advantage," said Mark Hill, Barrick's President and CEO. "He has experience across operations, finance, strategic planning, geopolitical issues, human resources, and risk management. Seb is the ideal person to grow our Rest of World business. He is a perfect example of Barrick's deep and global bench, and the integrity and character of its leaders."
"I am excited to accept this new role quite simply because what Barrick does, matters," said Bock. "It matters to the thousands of employees and stakeholders I've been honored to work with over the years. It matters to the communities where we work to create lasting and shared benefits. It matters to our investors whose wellbeing is affected by how well our work is done. These partnerships will allow us to realize the benefits of our unique rest-of-world strengths."
Mr. Bock joined Barrick as Senior Vice President and Chief Financial Officer, Africa and Middle East, in January 2019, and was appointed Chief Operating Officer for the region in July 2022. Under his guidance, the region has met or exceeded guidance every year and achieved significant growth. He has led the Lumwana expansion, the resolution of the situation in Mali, the achievement of record throughput at Kibali, and the growth of gold reserves at Loulo-Gounkoto and Bulyanhulu.
About Barrick Mining Corporation
Barrick is a leading global mining, exploration, and development company. With one of the largest portfolios of world-class and long-life gold and copper assets in the industry, Barrick's operations and projects span 17 countries and five continents. Barrick is also the largest gold producer in the United States. We create real, long-term value for all stakeholders through responsible mining, strong partnerships, and a disciplined approach to growth. Barrick shares trade on the New York Stock Exchange under the symbol 'B' and on the Toronto Stock Exchange under the symbol 'ABX'.
Investor Relations Contact: investor@barrick.com
Media Contact: media@barrick.com
Cautionary Statement on Forward-Looking Information
Certain information contained in this press release, including any information relating 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 "plan", "would", "could", "expected", "will", "intend", "continue", "explore", "contemplated" and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements with respect to, without limitation, expected annual growth in gold equivalent ounce production at Barrick's rest-of-world assets over the next three years and the potential for partnerships with Chinese entities to enable higher efficiency and access to advanced technologies to derisk and improve outcomes at certain of Barrick's operations.
Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by Barrick as at the date of this press release in light of management's experience and perception of current conditions and expected developments, 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, and undue reliance should not be placed on such statements and information. The estimates and assumptions contained in this news release, which may prove to be incorrect, include, but are not limited to: retention of existing management team members; relationships with governments, regulators, financing sources, joint venture partners and other business counterparties; general economic conditions and conditions in the markets and jurisdictions in which Barrick operates; regulatory rules affecting Barrick's business; market conditions; future gold, copper and other commodity prices; the speculative nature of mineral exploration and development; changes in mineral production performance, exploitation, and exploration successes; risks related to disruption of supply routes which may cause delays in construction and mining activities; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; risks associated with new diseases, epidemics and pandemics; litigation and legal and administrative proceedings; increased costs and physical and transition risks related to climate change, including extreme weather events, resource shortages, emerging policies and increased regulations related to greenhouse gas emission levels, energy efficiency and reporting of risks; and availability and increased costs associated with mining inputs and labor. 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).
Readers are cautioned that forward-looking statements are not guarantees of future performance. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in Barrick's most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities which contain a more detailed discussion of some of the factors underlying forward-looking statements, and the risks that may affect Barrick's ability to achieve the expectations set forth in the forward-looking statements contained in this press release.
Barrick 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.
