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Barrick Welcomes Ontario Superior Court's Dismissal of Litigation Concerning North Mara Gold Mine

1. Ontario court dismissed claims against Barrick Gold regarding human rights abuses. 2. Barrick Gold refuted allegations from activist NGOs about North Mara mine. 3. CEO highlighted company's positive economic impact in Tanzania. 4. Positive ruling supports Barrick's operational stability and reputation.

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FAQ

Why Bullish?

The court ruling reinforces Barrick's operational integrity, enhancing investor confidence, similar to past legal victories that benefitted gold stocks.

How important is it?

The dismissal of allegations could improve Barrick's image and investor relations, directly affecting GOLD’s price.

Why Short Term?

Immediate investor sentiment may improve due to positive news, similar to previous court rulings that impacted stock prices quickly.

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GOLDABX
November 28, 2024 08:57 ET | Source: Barrick Gold Corporation TORONTO, Nov. 28, 2024 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) has welcomed the Ontario Superior Court’s dismissal of claims brought by Tanzanian residents alleging human rights abuses by members of the Tanzanian Police Force in the vicinity of the company’s North Mara gold mine. The Court ruled that Ontario was not the appropriate forum to consider the claims. Barrick president and chief executive Mark Bristow said the company has repeatedly refuted what it regards as baseless claims by a small number of activist NGOs alleging historical human rights abuses around its North Mara mine. “We are proud of what we have achieved in Tanzania through our Twiga partnership with the country’s government. Our mines’ revenue contribution is having a transformative effect on the country’s economy while our investment in the socio-economic development of our host communities, coupled with our holistic sustainability strategy, has improved the quality of their lives materially,” he said. Barrick enquiries Investor and media relationsKathy du Plessis+44 20 7557 7738Email: barrick@dpapr.com Website: www.barrick.com

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