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Canadian miner eyes $1BN investment in Dominican Republic
Canadian miner Barrick Gold Corporation has announced it is considering to expand the Pueblo Vejo gold mine in the Dominican Republic under an investment worth more than $1 billion.
"The proposed expansion … includes an expansion of the mine’s processing plant and tailings capacity … and the potential to extend the life of the mine into the 2030s and beyond," the company said in a statement. "Barrick expects to complete a feasibility study for the expansion project during 2020. The proposed capital investment would more than double the contribution the mine has already made to the Dominican Republic."
Mark Bristow, Barrick Gold Corporation’s president and chief cxecutive officer, said that he joint venture partners had already invested some $5.2 billion in Pueblo Viejo.
Barrick runs mining operations and projects in 15 countries worldwide. These include Argentina, Australia, Canada, Chile, Côte d’Ivoire, the Democratic Republic of Congo, the Dominican Republic, Mali, Papua New Guinea, Peru, Saudi Arabia, Senegal, the US, and Zambia, according to data from the business.