{"id":9566,"date":"2023-08-03T16:27:36","date_gmt":"2023-08-03T20:27:36","guid":{"rendered":"https:\/\/puebloviejolugardevalor.com\/?p=9566"},"modified":"2023-08-03T16:27:36","modified_gmt":"2023-08-03T20:27:36","slug":"a-comprehensive-multi-year-process-extends-the-life-of-pueblo-viejo-mine-to-beyond-2040","status":"publish","type":"post","link":"https:\/\/puebloviejolugardevalor.com\/en\/a-comprehensive-multi-year-process-extends-the-life-of-pueblo-viejo-mine-to-beyond-2040\/","title":{"rendered":"A Comprehensive Multi-Year Process Extends the Life of Pueblo Viejo Mine to Beyond 2040"},"content":{"rendered":"

Santo Domingo, Dominican Republic, July 27, 2023 <\/i><\/b>\u2013 Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) \u2013 The Barrick operated Pueblo Viejo mine continues to advance the engineering design for the El Naranjo tailings storage facility (TSF) project which will extend its life to 2040 and beyond, president and chief executive Mark Bristow said here today<\/span>1<\/span>. The plant expansion and associated new TSF is designed to sustain gold production above 800koz per year (100% basis) going forward<\/span>1<\/span>.\u00a0<\/span><\/p>\n

Speaking at a local media briefing, Bristow said that the comprehensive engineering, environmental and community process, conducted over several years, would enable Pueblo Viejo to double the enormous contribution it had already made to the Dominican Republic\u2019s economy.\u00a0<\/span><\/p>\n

In line with its commitment to transparency, Bristow detailed the process leading up to the issuance of the environmental license recently received for the new TSF. This started with a comprehensive site selection in line with the Global Industry Standard on Tailings Management (GISTM) and in consultation with the Government and communities.\u00a0<\/span><\/p>\n

Following the site selection process, an Environmental and Social Impact Assessment (ESIA) was completed, which considered potential impacts associated with the preferred and alternative sites. This involved the completion of numerous specialist studies undertaken by independent in-country and international experts, including an independent peer review.\u00a0\u00a0<\/span><\/p>\n

The company consulted with interested and affected parties over the course of four years, including more than 3,000 community engagements and two open public participation meetings. In line with the company\u2019s commitment to transparency and best practice, open public meetings were advertised in local and national media and allowed sufficient opportunity for all parties to raise concerns, questions and comments\u00a0<\/span><\/p>\n

throughout the process.\u00a0<\/span><\/p>\n

\u201cMining is the driver for global development and to date, Pueblo Viejo has paid a total of $3.2 billion in direct and indirect taxes since commencing commercial production in 2013. The extension of the mine\u2019s life will allow Pueblo Viejo to continue being a major creator of value for the Dominican Republic and its people far into the future,\u201d Bristow said.\u00a0<\/span><\/p>\n

About Pueblo Viejo\u00a0<\/b><\/p>\n

Pueblo Viejo is located in the Dominican Republic, approximately 100 kilometers northwest of the capital city of Santo\u00a0 Domingo, and is operated by Pueblo Viejo Dominicana \u2013 a joint venture between Barrick (60%) and Newmont (40%). Construction of the Pueblo Viejo project started in 2008, with first production in 2012. The company\u2019s workforce is 97%\u00a0 Dominican. In 2020, the conversion of the mine\u2019s Quisqueya 1 power plant to natural gas was successfully completed. This conversion from fuel oil to natural gas will decrease greenhouse gas emissions by 30% and nitrogen oxide by 85%, further reducing Pueblo Viejo\u2019s impact on the environment. An agribusiness project is also planned as an additional benefit for the local communities.\u00a0<\/span><\/p>\n

Endnote\u00a0<\/b><\/p>\n

    \n
  1. Refer to the Technical Report on the Pueblo Viejo Mine, Dominican Republic, dated March 17, 2023 and filed on\u00a0 SEDAR at www.sedar.com and EDGAR at www.sec.gov on March 17, 2023.<\/span><\/li>\n<\/ol>\n

    Enquiries:\u00a0<\/b><\/p>\n

    Investor and Media Relations\u00a0<\/span><\/i><\/p>\n

    Kathy du Plessis\u00a0<\/span><\/p>\n

    +44 20 7557 7738\u00a0<\/span><\/p>\n

    Email: barrick@dpapr.com\u00a0<\/span><\/p>\n

    Website: <\/b>www.barrick.com<\/span>\u00a0<\/span><\/p>\n

    Technical Information\u00a0<\/b><\/p>\n

    The scientific and technical information contained in this presentation has been reviewed and approved by Chad\u00a0 Yuhasz, P.Geo, Mineral Resource Management, Latin America & Asia Pacific and John Steele, CIM, Metallurgy,\u00a0 Engineering and Capital Projects Executive \u2013 each a \u201cQualified Person\u201d as defined in National Instrument 43-101 – <\/span>Standard of Disclosure for Mineral Projects<\/span><\/i>.\u00a0<\/span><\/p>\n

    Cautionary Statement on Forward-Looking Information\u00a0\u00a0<\/b><\/p>\n

    Certain information contained or incorporated by reference in this press release, including any information as to our strategy,\u00a0 projects, plans or future financial or operating performance, constitutes \u201cforward-looking statements\u201d. All statements, other than\u00a0 statements of historical fact, are forward-looking statements. The words \u201cextend\u201d, \u201cwill\u201d, \u201ccommitment\u201d, \u201callow\u201d, \u201ccontinue\u201d,\u00a0 \u201cadvance\u201d, \u201cproject\u201d, \u201cexpand\u201d, \u201ccould\u201d, \u201cwould\u201d, \u201cshould\u201d, \u201cmay\u201d and similar expressions identify forward-looking statements. In\u00a0 particular, this press release contains forward-looking statements including, without limitation, with respect to: the design and\u00a0 construction of the new El Naranjo tailings storage facility project at Pueblo Viejo; the anticipated benefits of the plant expansion\u00a0 and new TSF including the extension of the life of the mine and expected minimum production profile; the issuance of the\u00a0 environmental permit for the El Naranjo tailings storage facility and related Environmental and Social Impact Assessment process;\u00a0 and Barrick\u2019s strategy, plans, targets and goals in respect of environmental and social governance issues in the Dominican Republic,\u00a0 including local community relations, economic contributions, and value creation.\u00a0<\/span><\/p>\n

    Forward-looking statements are necessarily based upon a number of estimates and assumptions including material\u00a0 estimates and assumptions related to the factors set forth below that, while considered reasonable by the Company as at the date\u00a0 of this press release in light of management\u2019s experience and perception of current conditions and expected developments, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors\u00a0 could cause actual results to differ materially from those projected in the forward-looking statements and undue reliance should not\u00a0 be placed on such statements and information. Such factors include, but are not limited to: fluctuations in the spot and forward price\u00a0 of gold, copper or certain other commodities (such as silver, diesel fuel, natural gas and electricity); risks associated with projects\u00a0 in the early stages of evaluation and for which additional engineering and other analysis is required; changes in mineral production\u00a0 performance, exploitation and exploration successes; lack of certainty with respect to foreign legal systems, corruption and other\u00a0 factors that are inconsistent with the rule of law; changes in national and local government legislation, taxation, controls or\u00a0 regulations and\/or changes in the administration of laws, policies and practices; expropriation or nationalization of property and\u00a0 political or economic developments in the Dominican Republic or other countries in which Barrick does or may carry on business in\u00a0 the future; risks relating to political instability in certain of the jurisdictions in which Barrick operates; timing of receipt of, or failure\u00a0 to comply with, necessary permits and approvals for the El Naranjo TSF; increased costs and physical and transition risks related\u00a0 to climate change, including extreme weather events, resource shortages, emerging policies and increased regulations relating to\u00a0 greenhouse gas emission levels; damage to the Company\u2019s reputation due to the actual or perceived occurrence of any number of\u00a0 events, including negative publicity with respect to the Company\u2019s handling of environmental matters or dealings with community\u00a0 groups, whether true or not; litigation and legal and administrative proceedings; operating or technical difficulties in connection with\u00a0 mining or development activities, including geotechnical challenges, tailings dam and storage facilities failures, and disruptions in\u00a0 the maintenance or provision of required infrastructure and information technology systems; increased costs, delays, suspensions\u00a0 and technical challenges associated with the construction of capital projects; risks associated with working with partners in jointly\u00a0 controlled assets; risks related to disruption of supply routes which may cause delays in construction and mining activities, including\u00a0 disruptions in the supply of key mining inputs due to the invasion of Ukraine by Russia; the impact of inflation, including global\u00a0 inflationary pressures driven by supply chain disruptions caused by the ongoing Covid-19 pandemic, global energy cost increases\u00a0 following the invasion of Ukraine by Russia; and risks associated with diseases, epidemics and pandemics, including the effects\u00a0 and potential effects of the global Covid-19 pandemic\u00a0<\/span><\/p>\n

    In addition, there are risks and hazards associated with the business of mineral exploration, development and mining,\u00a0 including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold\u00a0 bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance,\u00a0 to cover these risks).\u00a0<\/span><\/p>\n

    Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ\u00a0 materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned\u00a0 that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press\u00a0 release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F\/Annual Information\u00a0 Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the\u00a0 factors underlying forward-looking statements and the risks that may affect Barrick\u2019s ability to achieve the expectations set forth in\u00a0 the forward-looking statements contained in this press release.\u00a0\u00a0<\/span><\/p>\n

    We disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new\u00a0 information, future events or otherwise, except as required by applicable law.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

    Santo Domingo, Dominican Republic, July 27, 2023 \u2013 Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) \u2013 The…<\/p>\n","protected":false},"author":5,"featured_media":9561,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[],"class_list":{"0":"post-9566","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-press-room"},"yoast_head":"\nA Comprehensive Multi-Year Process Extends the Life of Pueblo Viejo Mine to Beyond 2040 - Barrick | Un lugar de valor<\/title>\n<meta name=\"description\" content=\"Santo Domingo, Dominican Republic, July 27, 2023 \u2013 Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) \u2013 The Barrick operated Pueblo Viejo mine continues to\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/puebloviejolugardevalor.com\/en\/a-comprehensive-multi-year-process-extends-the-life-of-pueblo-viejo-mine-to-beyond-2040\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A Comprehensive Multi-Year Process Extends the Life of Pueblo Viejo Mine to Beyond 2040 - 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