Barrick Gold to expand Dominican mine with US$1.0B+
Santo Domingo.- Barrick Gold Corporation CEO, Mark Bristow, on Mon. announced an expansion of the Pueblo Viejo mine, with an estimated initial investment of more than US$1.0 billion, creating the potential to extend the mine’s lifetime until the 2030s and beyond.
He said Barrick expects to conclude the feasibility studies for the expansion project in 2020.
In a press conference in the country, Bristow said the investment proposal was further proof of the long-term commitment of joint investment partners to social and economic development with the Dominican Republic.
“We hope to continue making a significant and growing contribution to our communities and other social actors, and unlock the enormous value of their mining potential while addressing the historical environmental issues of third parties,” he said.
Already one of the Tier One gold mines, Barrick’s project includes increasing the capacity of its processing plant, as well as its tailings dam.
Barrick operates the Pueblo Viejo mine in central Cotuí, which is currently a joint investment with Newmont Goldcorp.