Barrick Gold is looking to expand
Energy & Mines Minister Antonio Isa Conde backs the announcement by Barrick Pueblo Viejo that it plans to invest US$1 billion to expand its operations in the Dominican Republic. Isa Conde stated that the extension of the mine’s useful life means more revenues for the government and for the socially responsible projects the company has underway in the community where it is located. He said the Ministry is working on a new legal framework to make this type of mining sustainable from a financial, economic and environmental point of view.
Canada’s Barrick Gold announced this week plans to expand its Pueblo Viejo operation in northeastern Sánchez Ramírez province. The company said that a feasibility study is underway for the expansion project in 2020. The mine is already one of the world’s “tier one” gold mines. A tier one mine produces 500,000 ounces of gold a year and has a projected life of more than 10 years.
Barrick Gold Pueblo Viejo is considering an expansion of the mine’s processing plant and tailings capacity with an estimated initial capital investment of more than US$1 billion and the potential to extend the life of the mine into the 2030s.
Source: DR1, DiarioLibre
June 3, 2019
Category: DR News |