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March 12, 2020updated 11 Jun 2020 1:50pm

Barrick to pursue Pueblo Viejo mine expansion in Dominican Republic

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

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

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As ore mines ramp up and come on stream, the total number of active surface machines (including trucks, excavators, shovels, loaders, graders and dozers) is forecast to rise from 141,470 in 2020 to 167,367 by 2025. This will be a CAGR of 3.4% from 2020 to 2025. The largest contributor to this growth is expected to be trucks, particularly smaller-sized trucks with shorter lifespans, used extensively in parts of Asia Pacific. Underground mining equipment is similarly expected to see a CAGR of 2.3% in this same time frame, with the number of mining trucks and loaders/LHDs in active underground mines expected to rise to 19,853 by 2025. GlobalData’s extensive mine-site research and equipment models have been used to build a complete view of mobile mining equipment populations globally for trucks, loaders, graders, dozers, excavators and shovels. This report includes informative breakdowns by each major region and key mining country, and also by major commodity. Read GlobalData’s Global Surface and Underground Mining Equipment: Populations & Forecast to 2025 for a complete view of the market, allowing you to best position yourself for the future.
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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.

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.

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Dig deeper with our mining equipment forecasts

As ore mines ramp up and come on stream, the total number of active surface machines (including trucks, excavators, shovels, loaders, graders and dozers) is forecast to rise from 141,470 in 2020 to 167,367 by 2025. This will be a CAGR of 3.4% from 2020 to 2025. The largest contributor to this growth is expected to be trucks, particularly smaller-sized trucks with shorter lifespans, used extensively in parts of Asia Pacific. Underground mining equipment is similarly expected to see a CAGR of 2.3% in this same time frame, with the number of mining trucks and loaders/LHDs in active underground mines expected to rise to 19,853 by 2025. GlobalData’s extensive mine-site research and equipment models have been used to build a complete view of mobile mining equipment populations globally for trucks, loaders, graders, dozers, excavators and shovels. This report includes informative breakdowns by each major region and key mining country, and also by major commodity. Read GlobalData’s Global Surface and Underground Mining Equipment: Populations & Forecast to 2025 for a complete view of the market, allowing you to best position yourself for the future.
by GlobalData
Enter your details here to receive your free Report.

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