Barrick has plans to invest US$1.3 billion to add 15 years to gold mining operation


Staff member
Feb 20, 2019

The price of gold is rising to new highs. In these times, Barrick Pueblo Viejo announces it is seeking government approval for the expansion of its gold and silver mining operations. In an interview with Listin Diario, Barrick Pueblo Viejo president Juana Barceló said the company has prepared an expansion project that would enable production to remain at around 800,000 troy ounces. The expansion would be ready for 2022. It would allow production through 2045. If the expansion is not carried out, production will end in 2031. The company expects an average price of US$1,500 for the troy ounce. This week, the price of gold on international markets has broken the US$2,000 barrier.

As of July 2020, the company has paid US$270 million in direct taxes, including advances, profits and royalties on gold and silver sales and US$14 million in indirect taxes for the first quarter this...
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