Barrick pulls the trigger on Pueblo Viejo expansion

The Dominican Republic has completed a review of the location for a new tailings storage facility for Barrick Gold’s (TSX: ABX; NYSE: […]
Barrick says it is moving forward with an expansion of the Pueblo Viejo mine in the Dominican Republic. Credit: Barrick Gold.

The Dominican Republic has completed a review of the location for a new tailings storage facility for Barrick Gold’s (TSX: ABX; NYSE: GOLD) Pueblo Viejo gold mine expansion project that will extend production at the Tier One asset beyond 2040.

The world’s second-largest gold producer had warned last year that production at the mine would have to end in 2030 without a new mining waste depository.

The expansion will also enable the mining of lower grades in the existing deposit, supporting annual output of more than 800,000 oz. of gold.

According to a Barrick news release, the Dominican government has provided several alternatives for further assessment. In parallel, Barrick has completed its own alternatives study that produced a different set of feasible sites for further evaluation.

The two separate assessments independently identified four alternative sites, of which two spots in the Sanchez Ramirez province warrant further investigation.

Comments

Your email address will not be published. Required fields are marked *

Dec 01 2024 - Dec 02 2024
Dec 03 2024 - Dec 05 2024