Barrick Welcomes Ontario Superior Court’s Dismissal of Litigation Concerning North Mara Gold Mine
Barrick Gold (NYSE:GOLD)(TSX:ABX) announced that the Ontario Superior Court has dismissed claims by Tanzanian residents alleging human rights abuses near the North Mara gold mine. The Court ruled that Ontario was not the appropriate forum for these claims. CEO Mark Bristow stated that the company has consistently denied allegations of historical human rights abuses made by activist NGOs. He highlighted the positive impact of their Twiga partnership with Tanzania's government, emphasizing the mine's contribution to the country's economy and community development.
Barrick Gold (NYSE:GOLD)(TSX:ABX) ha annunciato che il Tribunale Superiore dell'Ontario ha rigettato le accuse dei residenti tanzaniani riguardanti violazioni dei diritti umani nelle vicinanze della miniera d'oro North Mara. Il Tribunale ha stabilito che l'Ontario non era il foro appropriato per queste accuse. Il CEO Mark Bristow ha dichiarato che l'azienda ha sempre negato le accuse di violazioni storiche dei diritti umani sollevate da ONG attiviste. Ha sottolineato l'impatto positivo della loro partnership Twiga con il governo della Tanzania, evidenziando il contributo della miniera all'economia del paese e allo sviluppo della comunità.
Barrick Gold (NYSE:GOLD)(TSX:ABX) anunció que el Tribunal Superior de Ontario desestimó las reclamaciones de residentes tanzanos que alegaban abusos a los derechos humanos cerca de la mina de oro North Mara. El Tribunal dictaminó que Ontario no era el foro adecuado para estas reclamaciones. El CEO Mark Bristow afirmó que la compañía ha negado consistentemente las acusaciones de abusos históricos a los derechos humanos realizadas por ONG activistas. Destacó el impacto positivo de su asociación Twiga con el gobierno de Tanzania, enfatizando la contribución de la mina a la economía y el desarrollo comunitario del país.
바릭 골드 (NYSE:GOLD)(TSX:ABX)는 온타리오 고등법원이 북마라 금광 근처에서 인권 침해를 주장한 탄자니아 주민들의 소송을 기각했다고 발표했습니다. 법원은 이러한 주장에 대해 온타리오가 적절한 관할권이 아니라고 판단했습니다. CEO 마크 브리스토우는 회사가 활동가 NGO들이 제기한 역사적 인권 침해 주장에 대해 일관되게 부인해왔다고 밝혔습니다. 그는 탄자니아 정부와의 트위가 파트너십이 긍정적인 영향을 미치고 있으며, 이 광산이 국가 경제와 지역 사회 발전에 기여하고 있음을 강조했습니다.
Barrick Gold (NYSE:GOLD)(TSX:ABX) a annoncé que la Cour supérieure de l'Ontario a rejeté les plaintes de résidents tanzaniens alléguant des violations des droits de l'homme près de la mine d'or North Mara. La Cour a statué que l'Ontario n'était pas le forum approprié pour ces réclamations. Le PDG Mark Bristow a déclaré que l'entreprise a constamment nié les allégations d'abus historiques des droits de l'homme formulées par des ONG militantes. Il a souligné l'impact positif de leur partenariat Twiga avec le gouvernement de Tanzanie, en mettant en avant la contribution de la mine à l'économie du pays et au développement des communautés.
Barrick Gold (NYSE:GOLD)(TSX:ABX) gab bekannt, dass das Obergericht Ontario die Klagen von tansanischen Einwohnern, die Menschenrechtsverletzungen in der Nähe der Nord-Mara-Goldmine behaupten, abgewiesen hat. Das Gericht entschied, dass Ontario das geeignete Forum für diese Klagen nicht sei. CEO Mark Bristow erklärte, dass das Unternehmen die Vorwürfe über historische Menschenrechtsverletzungen, die von Aktivisten-NGOs erhoben wurden, ständig zurückgewiesen hat. Er hob die positiven Auswirkungen ihrer Twiga-Partnerschaft mit der tansanischen Regierung hervor und betonte den Beitrag der Mine zur Wirtschaft des Landes und zur Entwicklung der Gemeinschaft.
- Court dismissal of litigation reduces legal risks and potential financial liabilities
- Continued operation of revenue-generating North Mara mine
- Successful partnership with Tanzanian government through Twiga venture
- None.
Insights
The dismissal of litigation against Barrick Gold regarding alleged human rights violations at North Mara represents a significant legal victory. The court's ruling that Ontario is not the appropriate jurisdiction effectively blocks attempts to pursue these claims in Canadian courts, reducing legal risk and potential financial exposure for Barrick. This decision follows a broader trend of jurisdictional challenges in transnational litigation against mining companies.
The ruling's implications extend beyond this specific case, potentially affecting future attempts to bring similar claims against Canadian mining companies in domestic courts for overseas operations. While this legal victory strengthens Barrick's position, the company must maintain robust human rights due diligence and community relations programs to mitigate future risks and maintain its social license to operate in Tanzania.
This legal victory removes a significant uncertainty overhang from Barrick's stock. The North Mara mine is a important asset in Barrick's portfolio and the dismissal of these claims helps protect the company's reputation and reduces potential financial liabilities. The Twiga partnership with Tanzania's government has been instrumental in stabilizing operations and securing the mine's long-term future.
The market typically responds positively to the resolution of legal uncertainties, particularly in cases involving human rights allegations. This development should help maintain investor confidence in Barrick's ESG practices and governance structure. The focus can now return to operational performance and the mine's contribution to Barrick's overall production and revenue goals.
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 relations
Kathy du Plessis
+44 20 7557 7738
Email: barrick@dpapr.com
Website: www.barrick.com
FAQ
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