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DR has third largest gold-producing mine

The Barrick Gold Corporation’s mine in Pueblo Viejo, Cotui is the third largest gold producer in the world, says Dominican geologist Osiris de Leon. It comes after Muruntau in Uzbekistan and the Grasberg mine in Indonesia, which are the only two goldmines that produce more.

Barrick Gold reported production of 1,108,000 troy ounces of gold in 2014.

The mining company reports that in the long term, Pueblo Viejo has significant reserves and resources with potential to expand the life of the mine. According to the company, Barrick’s share of gold production in 2014 was 665,000 ounces at all-in sustaining costs of $588 per ounce. Gold production in 2015 is forecast to be 625,000-675,000 ounces (Barrick’s share) at all-in sustaining costs of US$540-$590 per ounce.

As of 31 December 2014, Pueblo Viejo had proven and probable gold reserves of 9.3 million ounces2 (Barrick’s share).

Source: DR1, Elnuevodiario

June 19, 2015

Category: DR News |

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