The Barrick-Goldcorp Pueblo Viejo mine is the only mine in the world with annual production of more than one million ounces of gold with costs running below $600 per ounce.
It's on the top list of most efficiently run gold mines in the world and the least of environmental impacts industry-wide.
Globally the Pueblo Viejo mine serves as an example of how a mining contract went from the norm for the market to the model it's today. The contract was renegotiated by Barrick-Goldcorp and the Dominican Republic government with assistance from U.N. mining and environmental experts in the field to become one of the few, if not the only, best models of how mining should be conducted in a responsible way when taking the environmental impact under consideration as the most important piece of such contracts.
The Pueblo Viejo contract covered important issues like pre-existing environmental damages left behind from old mining operations and those which the present operations could end up causing as well.
Instead of relying on old industry practices, mostly learned with little regards to the environmental impacts, the Pueblo Viejo mine was designed utilizing the most up to date technological advances in the industry. Many which had never seen real world applications outside of labs and very limited tests up to that point.
Pueblo Viejo is a testament to what major industry can achieve when it allows for technology and advancements to address environmental impact, before profits can be part of the equation.
By theory, addressing efficiency during lab and limited field tests, the technologies supported a better way to conduct mining operations with the least or no real impact beyond the natural process found in nature and development.
Recovery and recycling in the Pueblo Viejo mine became the key and factoring points, far beyond other usual industry practices elsewhere employ at large today.
This mine is expected to be operational for the next 25 years and another 25 years once newer technologies for gold extraction are implemented.
Today, several nations have sent representatives from their government and mining industry, seeking advice and assistance on how the Dominican government and Barrick-Goldcorp implemented such successful program.
Not bad for a mine that was once considered a sellable asset to mitigate debt ratios for Barrick-Goldcorp.
Far from being the only gold mine operation in the Dominican Republic, Pueblo Viejo is soon to be welcoming another gold mining operation, using the same technologies and addressing environmental impact in day to day operations.
It's on the top list of most efficiently run gold mines in the world and the least of environmental impacts industry-wide.
Globally the Pueblo Viejo mine serves as an example of how a mining contract went from the norm for the market to the model it's today. The contract was renegotiated by Barrick-Goldcorp and the Dominican Republic government with assistance from U.N. mining and environmental experts in the field to become one of the few, if not the only, best models of how mining should be conducted in a responsible way when taking the environmental impact under consideration as the most important piece of such contracts.
The Pueblo Viejo contract covered important issues like pre-existing environmental damages left behind from old mining operations and those which the present operations could end up causing as well.
Instead of relying on old industry practices, mostly learned with little regards to the environmental impacts, the Pueblo Viejo mine was designed utilizing the most up to date technological advances in the industry. Many which had never seen real world applications outside of labs and very limited tests up to that point.
Pueblo Viejo is a testament to what major industry can achieve when it allows for technology and advancements to address environmental impact, before profits can be part of the equation.
By theory, addressing efficiency during lab and limited field tests, the technologies supported a better way to conduct mining operations with the least or no real impact beyond the natural process found in nature and development.
Recovery and recycling in the Pueblo Viejo mine became the key and factoring points, far beyond other usual industry practices elsewhere employ at large today.
This mine is expected to be operational for the next 25 years and another 25 years once newer technologies for gold extraction are implemented.
Today, several nations have sent representatives from their government and mining industry, seeking advice and assistance on how the Dominican government and Barrick-Goldcorp implemented such successful program.
Not bad for a mine that was once considered a sellable asset to mitigate debt ratios for Barrick-Goldcorp.
Far from being the only gold mine operation in the Dominican Republic, Pueblo Viejo is soon to be welcoming another gold mining operation, using the same technologies and addressing environmental impact in day to day operations.