Canadian Mining Journal

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GOLD DEVELOPMENT – Pueblo Viejo project moves forward

DOMINICAN REPUBLIC - Pueblo Viejo Dominicana (40% GOLDCORP and 60% BARRICK GOLD, the operator) has submitted both t...



DOMINICAN REPUBLIC – Pueblo Viejo Dominicana (40% GOLDCORP and 60% BARRICK GOLD, the operator) has submitted both the feasibility study and project notice to the government of the Dominican Republic so that work on the Pueblo Viejo gold mine can go forward. The US$2.7-billion gold development is about 100 km northwest of Santo Domingo. According to Barrick, this is the largest foreign investment in the country.

Development at Pueblo Viejo is expected to provide 3,500 construction jobs over three years, and employment for 1,000 permanent workers during 25 years of production. The US$2.7-billion price tag is up from the $2.1 to $2.3 billion figure of February 2007. The increase reflects plans to boost mill throughput to 24,000 t/d from 18,000 t/d.

When it reaches commercial production, the Pueblo Viejo mine will have an output of nearly 1.0 million oz of gold in each of its first five years of operation. Total proven and probable reserves at Dec. 31, 2007, were estimated to be 20.4 million oz of gold with 423.6 million lb of copper and 117.3 million oz of silver contained within the reserves.

Other news from the Dominican Republic can be found at www.DominicanToday.com.