The Donlin gold project in Alaska. This project is a 50:50 joint venture of Barrick and NovaGold. (Image: Barrick Gold)
TORONTO – Barrick Gold is spreading the word about how its long term investments will drive shareholder value. The company says its plans are sustainable and have much upside potential.
The timing of the release comes as Barrick is close to losing its place as the world’s largest gold miner by ounces. In 2017, Barrick produced 5.32 million oz. of gold, and Newmont Mining of Denver had output of 5.27 million oz.
Barrick says it has four feasibility level projects underway that could add a million ounces to its output beginning in 2021.
In Nevada the Cortez Deep South is expanding at depth, the and Turquoise Ridge mine (75% interest) is getting a third shaft, and the Goldrush underground development is slated for first production by 2022.
In Peru the life of the Lagunas Norte mine is to be extended in two phases. First, a grinding and carbon-in-leach circuit will be added to treat the remaining carbonaceous oxide material at the mine. Second, a flotation circuit and autoclave will be built to treat refractory ore with potential start-up in 2027.
Barrick is also examining several other projects in the earlier stages of execution. The mill at the Pueblo Viejo mine in Dominican Republic could see a 50% throughput increase.
Farther down the line, Barrick is invested in several greenfield opportunities – Donlin gold in Alaska (with NovaGold), Norte Abierto in Chile (with Goldcorp), Alturas in Chile, and the problematic Pascua-Lama project that straddles the border of Chile and Argentina.
More information about all these projects is available at www.Barrick.com.