The mine, about 100 km northwest of the capital city of Santo Domingo, is operated by the Pueblo Viejo Dominicana Corporation — a joint venture between Barrick (60%) and Goldcorp (40%). (Image courtesy of Barrick Gold.)
Canada’s Barrick Gold (TSX: ABX)(NYSE: GOLD), the world’s second largest producer of the precious metal, has warned that mining at its Pueblo Viejo operation in the Dominican Republic could finish this year and production in 2030 if a new tailings storage facility (TSF) doesn’t get approved.
The mine waste depository is part of a planned $1.3 billion expansion expected to extend the mine life beyond 2040. It will also enable the mining of lower grades in the existing deposit, supporting annual output of more than 800,000 ounces of gold.