GOLD: Barrick announces $500M upgrades at Veladero

ARGENTINA – Barrick Gold said it will be making US$500-million worth of upgrades at the Veladero gold project 320 km 320 km northwest of the city of San Juan. The announcement was made on April 25, 2017, by COO Richard Williams. [caption id="attachment_1003718192" align="alignleft" width="296"] Barrick recently sold a 50% interest in the Veladero project to Shandong Gold.[/caption] At the leach pad where three cyanide solution spills have occurred in the past two years, Barrick will be adding containment barriers, strengthening and moving pipes, and adding new cameras to monitor the area. New valves are to be added to better control the flow of the solution. Management oversight and worker training will both be stepped up. Barrick said the US$500 million is not new money but part of the five-year sustaining capital plan for the mine. Once the leach pads are remediated to a level that satisfies the authorities, leaching will be resumed, probably in June. Then Barrick said it will seek permits to expand the facility. More about Barrick and its worldwide operations is available at www.Barrick.com.