Name of the Project
Pueblo Viejo life-of-mine extension project.

Location
Sanchez Ramirez pro­vince, in the Dominican Republic.

Project Owner/s
Barrick Gold, in a 60:40 joint venture with Newmont Corporation.

Project Description
The project aims to advance a plant expansion and tailings storage facility (TSF).

The new TSF will allow for operations to continue beyond 2040 at an average of 800 000 oz/y of gold.

Potential Job Creation
The company’s workforce, which is 97% Dominican, is expected to increase as the project develops, consequently increasing 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 capital cost of expanding the Pueblo Viejo mine increased from $1.3-billion in March 2020 to $1.4-billion in March 2022.

Planned Start/End Date
The project was approved to proceed in March 2020 and is expected to be completed by the end of 2022.

Latest Developments
The strategic review of the location of the TSF has been completed, paving the way for Barrick Gold to progress the project.

Government and Barrick Gold have separately studied sites for the TSF location, with the assessments independently identifying four alternative sites, two of which, in the Sanchez Ramirez province, will be proposed for further investigation.

Barrick president and CEO Mark Bristow has noted that, although these alternative sites existed as determined by the reviews, the final location and construction of the facility will be subject to the completion of an environmental- and social-impact assessment (ESIA).

The ESIA will be submitted to the Dominican government for evaluation and final decision.

Barrick has stated that it is committed to following international standards and will adhere to the Global Industry Standard on Tailings Management in terms of design, construction, operation and closure of the TSF.

Key Contracts, Suppliers and Consultants
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.