- Thread starter FireGuy
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Placer Dome OKs Pueblo Viejo Mine in DR.
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gary short
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Mining surge in Dominican Republic attracts new search for gold, copper<!-- /headline --><!-- subhead --><!-- /subhead --><!-- byline -->
The Associated Press
Published: November 23, 2006
SANTO DOMINGO, Dominican Republic: Two Canadian mining companies announced a new search for gold and copper in the central Dominican Republic on Thursday, joining a flock of North American businesses scouting for metals in the Caribbean nation.
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Mining companies have been coming here in droves since Barrick Gold Corp. began its US$1.4 billion (?1.08 billion) redevelopment of the massive Pueblo Viejo mine, which could be the second-largest gold mine in the Americas, Fisher said.
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The Associated Press
Published: November 23, 2006
SANTO DOMINGO, Dominican Republic: Two Canadian mining companies announced a new search for gold and copper in the central Dominican Republic on Thursday, joining a flock of North American businesses scouting for metals in the Caribbean nation.
...
Mining companies have been coming here in droves since Barrick Gold Corp. began its US$1.4 billion (?1.08 billion) redevelopment of the massive Pueblo Viejo mine, which could be the second-largest gold mine in the Americas, Fisher said.
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...and here's the result. List?n Diario Digital - El peri?dico de los dominicanos
More gold identified in Cotui. They estimate they can mine around 575,000 y 600,000 ounces of gold a year. At the current price of around 680/oz that's about 408,000,000 USD a year in gross revenues for Barrick's. How much of that profit will be spent in the local economy of Cotui? How much of that profit is earmarked for future cleanups?
This pristine lake you see now will be a polluted mess by the time they are done with it.
More gold identified in Cotui. They estimate they can mine around 575,000 y 600,000 ounces of gold a year. At the current price of around 680/oz that's about 408,000,000 USD a year in gross revenues for Barrick's. How much of that profit will be spent in the local economy of Cotui? How much of that profit is earmarked for future cleanups?
This pristine lake you see now will be a polluted mess by the time they are done with it.
"The Pueblo Viejo JV with Goldcorp in the Dominican Republic was also highlighted by Wilkins. At year end of 2006, Pueblo Viejo reported a reserve assumption of 18.1 million ounces of gold, up from 13.4 million ounces. The project also has 2.6 billion pounds of zinc, 358 million pounds of copper and 88 million ounces of silver contained within the gold reserves. However, estimated capital costs have increased from $1.35 billion to a range of $2.1-2.3 billion. Mine life is expected to be 20 years."
For those familiar in the gold business, en par what gold mines would 575,000 y 600,000 ounces/18.1 MM ounces of gold of gold a year put Pueblo Viejo?
For those familiar in the gold business, en par what gold mines would 575,000 y 600,000 ounces/18.1 MM ounces of gold of gold a year put Pueblo Viejo?
Suarezn, given the past history of most mining companies in the DR, and the government's (lack of) supervision of them, I fear you are right.
Check this Out, Environmentally Safer Gold Recovery!
A company called Haber Inc. from NewJersey, has a process that can reduce or eliminate the need to use Cyanide in Gold recovery. It is a proprietary process that works best on oxide-ores and microfine gold. I'm sure that some of the Viejo mining would fall under that category. Best part is it actually costs LESS than using Cyanide extraction, so the minig companies actually would have an incentive to use a safer method of extraction. Check it out: HABER inc. - Infinite possibilities in the seperation arts, extractive metallurgy and development of other cutting edge technologies
Anybody know if this could be brought to the attention of the right people in the mining or environmental ministry?
A company called Haber Inc. from NewJersey, has a process that can reduce or eliminate the need to use Cyanide in Gold recovery. It is a proprietary process that works best on oxide-ores and microfine gold. I'm sure that some of the Viejo mining would fall under that category. Best part is it actually costs LESS than using Cyanide extraction, so the minig companies actually would have an incentive to use a safer method of extraction. Check it out: HABER inc. - Infinite possibilities in the seperation arts, extractive metallurgy and development of other cutting edge technologies
Anybody know if this could be brought to the attention of the right people in the mining or environmental ministry?