Barrick Gold Corp. said May 27 that a proposed expansion of the processing plant and tailings capacity of the Pueblo Viejo gold mine in the Dominican Republic is estimated to require initial capex of at least US$1 billion.
The Pueblo Viejo mine is 60%-owned and managed by Barrick, with Newmont Goldcorp Corp. holding the remaining 40%.
The expansion may extend the operation's life to beyond 2030. A feasibility study is expected in 2020.
The consortium has invested US$5.2 billion in the operation, with the latest round of investment to more than double the mine's contribution to the Dominican Republic.