GOLD: Pueblo Viejo output cut by motor failures

DOMINICAN REPUBLIC – Operator Barrick Gold (60%) of Toronto has advised partner Goldcorp (40%) of Vancouver (and by extension the public) that […]
DOMINICAN REPUBLIC – Operator Barrick Gold (60%) of Toronto has advised partner Goldcorp (40%) of Vancouver (and by extension the public) that mechanical issues will cut production at the Pueblo Viejo gold mine until mid-January 2016. The autoclave will be functioning at reduced capacity after two of the three motors in the oxygen plant failed suddenly on Nov. 19. Oxygen is required for operation of the autoclave that treats refractory gold ore. Barrick says the cause of the failures is under investigation. Meanwhile, the motors have been shipped to a specialized repair facility in the United States. The loss of production at Pueblo Viejo is forcing Barrick to reduce its 2015 guidance to between 6.0 million and 6.15 million oz at all-in sustaining costs of US$830 to US$870 per oz. Goldcorp said it expects that despite lower output at Pueblo Viejo in the fourth quarter, its gold production will be at or near the mid-point of its guidance, between 3.3 million and 3.6 million oz. All-in sustaining costs will remain between US$850 and US$900 per oz for the year. The original news release is posted at Barrick.com and Goldcorp.com.

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