It’s critical that people acknowledge Barrick as a partner in the DR, according to Mark Bristow
According to Mark Bristow, president and CEO of Barrick Gold Corporation, the Dominican Republic could profit from more than 2,000 to 4,000 million dollars over the course of the 20 years that are anticipated to be added to the Barrick Pueblo Viejo gold mine’s useful life, depending on how the price of gold changes in the market up until 2040. “Making people accept Barrick as an investment and a partner in the nation is vital to me”, the South African said.
When the mine that runs in the Sánchez province Ramrez was not under his administration, he said in a conversation with media executives and commentators that the company “had to deal with the allegations and accusations of the first phase, because many people return to the environmental damage of the past.”
As a top management for the multinational, Bristow is certain that another tailings dam be completed before 2027. This facility was finally approved for the corporation by Executive Power after much dispute. This will enable the world-class gold mine to continue operating into the year 2040 and increase production, which has reduced as a result of the demand for the stated deposit.
Last month, President Luis Abinader authorized by decree the expansion of the Montenegro Fiscal Zone, an area where Barrick Pueblo Viejo operates, “for the installation of a co-disposal facility for tailings and rocks with no economic value,” better known as a tailings dam. . It was given 36 months to carry out and present the environmental impact and feasibility studies for said project, the execution of which was conditional on the approval of the Ministry of Energy and Mines.
“The government’s relationship with us is very professional,” Bristow said. “We have built a strong relationship in difficult times, working to find the right place for the dam.” The company raffled several options for said space, the cost being the difference between the final place and the first option they contemplated, due to the conditions of the land and the adjustments to be made.
A relocation committee is working on the logistics to manage the transition to construction of the tailings dam, a process that involves the relocation of 500 families.