Barrick to invest $34 million to extend Veladero’s mine life

Aug 25 06:08 2019 Print This Article

Barrick Gold’s (TSX:ABX)(NYSE:GOLD) CEO, Mark Bristow, announced this weekend that the company is planning to invest $34 million in its Veladero operation in western Argentina with the idea of extending the mine’s life until 2028. 

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Veladero produced 278,000 ounces of gold in 2018 and, at present, its inferred gold resources add up to 555,000 ounces. In 2019, the mine is expected to produce between 230,000 and 250,000 ounces of the yellow metal.

According to Bristow, Barrick is in the process of reviewing Veladero’s geological model and assessing the possibility of expanding its footprint.

Since December 2017, Veladero is managed by Minera Andina del Sol, a joint venture between Barrick Gold and China’s Shandong Gold Mining

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About Article Author

Junior Mining News

Dudley Pierce Baker is the founder and editor of Common Stock Warrants and a 1967 graduate of St. Mary’s University in San Antonio, Texas with a major in accounting. A former for IRS agent, Baker has 35 years or so of accumulated knowledge and experience in trading stocks, options, leaps, futures, options on futures and of course, warrants. In March 2005, he founded and launched this new investment Market Data Service, Precious Metals Warrants, which provides the detail on all mining and energy company Warrants trading on the U.S. and Canadian Exchanges. As an investor, Baker looked all over for helpful information about US-Canada mining and energy industry's; he, therefore, proceeded to accumulate the sources of the information and then to build the website into a user-friendly place to get the details on all warrants trading on the mining and energy companies.

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