Kibali Goldmines Rejects SOKIMO Claim

 

Kibali Goldmines SA (Kibali) said today it had learned that SOKIMO SA was attempting for the second time to extort certain benefits from the company by filing new proceedings with the commercial court in Kinshasa. SOKIMO is a 10% shareholder in the Kibali gold mine which is operated by 45% owner Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) with the remaining 45% held by AngloGold Ashanti.

 

Kibali said SOKIMO had withdrawn its first claim of this kind after it had been shown to be without foundation. Kibali also rejects the current proceedings on the basis that it was similarly spurious and without substance, and would seek its dismissal as it had done with the previous claim.

 

Kibali has operated for the past 12 years under a joint venture agreement with a clear dispute resolution mechanism which in these instances had been ignored by SOKIMO, the company said.

 
      
  Enquiries:   
  President and CEO  
Mark Bristow
+1 647 205 7694
+44 788 071 1386
  Investor and Media Relations  
Kathy du Plessis
+44 20 7557 7738
Email:   barrick@dpapr.com   
Website :    www.barrick.com    
 

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Barrick Mining

Barrick Gold Corp is one of the world's largest gold producers, operating mines in North America, South America, Australia, and Africa. The company segments consist of nine gold mines namely Carlin, Cortez, Turquoise Ridge, Pueblo Viejo, Loulo-Gounkoto, Kibali, Veladero, North Mara, and Bulyanhulu. It generates maximum revenue from the Carlin mine segment. Geographically, it derives a majority of revenue from the United States.

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