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Barrick Gold pegs at least US$1B capex for Pueblo Viejo expansion

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.