Barrick Gold has announced its plans to extend the life of the Pueblo Viejo gold mine in the Dominican Republic beyond 2040.

The Pueblo Viejo mine is a joint venture between Barrick Gold (60%) and Newmont Goldcorp (40%). It is located 100km from the capital city of Santo Domingo.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Barrick noted that it seeks to spend $1.3bn on the proposed expansion of the processing plant and tailings facility at Pueblo Viejo.

The proposed expansion would increase export potential by an estimated $22bn and generate an extra $4bn in taxes at a gold price of $1,500 per ounce.

Barrick Gold president and CEO Mark Bristow said: “Our aim is to continue contributing to the social and economic development of the Dominican Republic by applying our sustainability philosophy to create long-term value for all our stakeholders, especially the governments and people of our host countries.

“Without this project mining at Pueblo Viejo would have ceased in the next two years.”

The expansion will enable Barrick to exploit the lower grades at the mine.

Bristow also added that the conversion of Pueblo Viejo’s Quisqueya 1 power plant to natural gas had started operations with potential to lower greenhouse gases (GHG) by 30% and nitrogen oxide by 85%.

In December last year, Barrick Gold said that the power plant at Pueblo Viejo mine is all set to receive its first natural gas.

In May of the same year, the company planned to complete a feasibility study on the Pueblo Viejo gold mine expansion by the end of 2020.