Barrick Gold’s (TSX: ABX)(NYSE:GOLD) ongoing push to expand its global portfolio has prompted the company to revisit its presence in the Latin American market.
The world’s second largest gold miner has in the past year been particularly interested in Peru, where it was the second top gold producer until 2018. According to local newspaper Gestión, Barrick recently submitted a request to obtain a mining concession for 400 hectares in the southern Puno district.
The application is the first step in the process of securing exploration and exploitation permits in the requested area, where Barrick’s carried out exploration two years ago.
“Discovery and development are the true drivers of value, and our strong focus on exploration is evident in our widespread hunt for new discoveries with Tier One potential as well as reserve replenishment opportunities,” president and CEO Mark Bristow said in a statement.
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