Conversion of Pueblo Viejo Power Plant Scheduled for Q1 2020 Conversion Lowers Greenhouse Gas Emissions and Reduces Costs
PRESS RELEASE
NYSE : GOLD TSX : ABX
Conversion of Pueblo Viejo Power Plant Scheduled for Q1 2020
Conversion Lowers Greenhouse Gas Emissions and Reduces Costs
TORONTO – December 17, 2019 – Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today announced that the
Pueblo Viejo power plant is expected to receive its first natural gas in Q1 2020 in a move that will lower greenhouse
gas emissions and cut costs, in line with the Group’s clean and efficient energy strategy.
Pueblo Viejo entered into a 10-year supply agreement with AES Andrés DR, SA in May 2018 for the provision of natural
gas and the construction of a gas pipeline from the AES gas terminal to the Quisqueya I power plant for the mine. This
will also benefit the San Pedro region which has not previously had access to this cleaner alternative fuel.
Barrick president and chief executive Mark Bristow says since the commissioning of the Quisqueya I power plant in
2013, Pueblo Viejo has looked for ways to reduce the impact of its air emissions on the environment and the cost of
energy production.”
“The conversion of Quisqueya I to natural gas will help reduce Pueblo Viejo’s power generation costs by some 30%.
Greenhouse gases will also be cut by 30% and nitrogen oxide by 85%, and the mine’s dependence on oil will be
significantly decreased,” Bristow said.
The gas pipeline is facilitating the conversion of other power plants in the region which will translate into further
reduction in greenhouse emissions and significant savings in energy costs within the Dominican national grid. Recently
other power producers in the area have announced the conversion into natural gas of an additional 525 M w.
Pueblo Viejo is also contributing to the Dominican electricity sector with the construction of the Bonao III power
substation as part of a public /private alliance with the Dominican Transmission Entity and Empresa Generadora de
Electricidad Haina (EGE Haina) which owns the power plant Quisqueya 2 located next to Quisqueya I. The substation
is expected to help to provide more stability to the country’s national grid. Finalization is scheduled for mid-next year.
Bristow noted, “The conversion agreement, the natural gas pipeline and the Bonao III substation represent a step
forward, not only for Pueblo Viejo but for the Dominicans, as it shows not just environmental benefits, but also a
significant reduction of the country ’s electricity cost, less dependency on crude oil and more stability for the national
power grid.”
ENQUIRIES:
President and CEO
Mark Bristow
+1 647 205 7694
+44 788 071 1386
Chief Operating Officer
LATAM and Asia Pacific
Mark Hill
+1 (416) 307 7429
+1 (416) 358 4667
Relations with Media and Investors
Kathy du Plessis
+44 20 7557 7738
Email: [email protected]
Website: www.barrick.com
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Certain information contained in this press release, including any information as to Barrick’s strategy, plans, or future fin ancial or
operating performance, constitutes “forward-looking statements”. All statements, other than statements of historical fact , are
forward-looking statements. The words “expect”, “strategy”, “will”, and similar expressions identify forward-looking statements. In
particular, this press release contains forward-looking statements including, wit hout limitation, with respect to the anticipated
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benefits of the conversion to natural gas of the Quisqueya I power plant including lower power generation costs , reduced
greenhouse gas emissions and planned improvements to the national power grid. .
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 experienc e and perception of current conditions and expected developments, are inherently subject to
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results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such
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or certain other commodities (such as silver, diesel fuel, natural gas, and electricity); increased costs and physical risks, including
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including loss of key employees; business opportunities that may be presented to, or pursued by, the Company; our ability to
successfully complete divestitures; risks associated with working with partners in jointly controlled assets; and availability and
increased costs associated with mining inputs and labor. In addition, there are risks and hazards associated with the business of
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formations, pressures, cave-ins, flooding, and gold bullion, copper cathode, or gold or copper concentrate losses (and the risk of
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underlying forward-looking statements, and the risks that may affect Barrick’s ability to achieve the expectations set forth in the
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information, future events or otherwise, except as required by applicable law.