Pueblo Viejo gold mine expansion, Dominican Republic
Name of the Project
Pueblo Viejo gold mine expansion.
Location
The project is located in Sanchez Ramirez province, in the Dominican Republic.
Project Owner/s
Barrick Gold Corporation.
Project Description
The proposed expansion of the Pueblo Viejo gold mine will extend its life until 2040 and beyond.
The expansion will enable the mine to exploit the lower grades in the orebody and is not intended to process ore from outside the current concession area.
The expansion will further unlock the mine’s potential to increase exports by $22-billion and generate more than $4-billion in taxes at a gold price of $1 500/oz.
Potential Job Creation
The company’s workforce, which is 97% Dominican, is expected to expand as the project develops and it will increase opportunities for women to participate.
It will also promote the development of the local economy based on the mine’s suppliers and contractors.
Net Present Value/Internal Rate of Return
Not stated.
Capital Expenditure
The project will require an initial investment of $1.3-billion to expand the process plant and the tailings facility.
Planned Start/End Date
Not stated.
Latest Developments
None stated.
Key Contracts and Suppliers
None stated.
Contact Details for Project Information
Barrick Gold Corporation investor and media relations, Kathy du Plessis, tel +44 20 7557 7738 or email barrick@dpapr.com.
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