[caption id="attachment_1003729917" align="aligncenter" width="506"] The Veladero mine and its suppliers purchase goods and services from 90 local suppliers. (Image: Barrick Gold)
ARGENTINA – Toronto-based Barrick Gold
says it remains committed to Latin American, outlining its plans for the next generation of new mine projects. President and CEO Mark Bristow addressed local community leaders and media in the town of San Juan.
Bristow said again that the region is important as a major part of the company’s portfolio is there. He also pointed to the enormous potential for new discoveries that will carry Barrick forward.
“Barrick holds a highly prospective land package, with mining rights covering some 34,000 hectares, in the El Indio gold belt. This legendary gold province, which spans Argentina, Chile and Peru, has already yielded five significant discoveries and we believe its mineral wealth still offers a very substantial upside,” he said.
“We have a new regional exploration strategy that is being implemented by a best-in-class team drawn from the merged Barrick and Randgold. In Argentina alone, we plan to invest more than US$30 million in exploration over the next two years.”
Barrick has plans to expand the Pueblo Viejo mine in the Dominican Republic. In Argentina the future of the Veladero mine is looking brighter as planning is underway to extend its life. At Pascua Lama, which straddles the Chile-Argentina border, Bristow said the company is going back to basics to review the original parameters for the project and define its future potential. In Chile the Norte Abierto and Alturas project are advancing.
Also in Chile the Pierina mine is planning for closure, and the Lagunas Norte mine will be placed on care and maintenance while the potential of the sulphide resource is assessed.
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