TORONTO, Aug. 13, 2021 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) has become a patron of the Charge on Innovation Challenge, an industry-wide effort to cut emissions from surface mining.
The Challenge takes the form of a global competition and seeks to leverage the experience and ideas of a variety of industries to develop new concepts and solutions for large-scale haul truck electrification. Electrification is seen as the key to decarbonize mining and the crux of the challenge is to develop a solution that will safely deliver electricity to large surface haul trucks without adding time to the haul cycle.
So far over 350 companies from across 19 industries have registered their interest as vendors with 80 companies submitting formal expressions of interest.
With the help of the Australian mining equipment industry body Austmine, the patrons will evaluate proposals over the next month with a view to creating a short-list of vendors to submit formal proposals. Once a suitable solution is selected, site trials are expected to start within the next few years.
Barrick president and chief executive Mark Bristow said the company was proud to lend its support to, and play a part in, this initiative which promises to accelerate the industry’s decarbonization.
“At Barrick, we have set ourselves an emissions reduction target of 30% by 2030 against our 2018 baseline and our vision is to achieve net zero emissions by 2050,” he said. “While we have already made clear strides in meeting these targets, we are constantly looking at new and innovative ways to further enhance our environmental credentials.”
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Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans or future operating performance, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “challenge”, “develop”, “will”, “evaluate”, “trial”, “promise”, “target”, “vision” “could”, “would” and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: Barrick’s climate strategy; the potential for the Charge on Innovation Challenge to reduce emissions from surface mining through large-scale haul truck electrification; and Barrick’s greenhouse gas emission reduction targets and ultimate aim to achieve net zero emissions by 2050
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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 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.
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