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.
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. Continue Reading →