Pueblo Viejo
Pueblo Viejo is located in the Dominican Republic, approximately 100 kilometres northwest of the capital city of Santo Domingo. Barrick holds a 60% interest and is the operator with Goldcorp owning the remaining 40% interest. Pueblo Viejo is on schedule and within its pre-production capital budget of $2.7 billion (100% basis). Post start-up, an additional $0.3 billion (100% basis) is expected to complete an expansion to 24,000 tonnes per day. Initial production is anticipated in the fourth quarter of 2011.
Barrick’s equity share of proven and probable gold reserves at Pueblo Viejo increased to 13.4 million ounces as of December 31, 20081. The mine life is expected to be over 25 years and Barrick’s share of annual production is expected to be about 600,000 - 650,000 ounces of gold at total cash costs of $275 - $300 per ounce2 during the first full five years of production.
1 Click here for more information regarding reserve and resource measurements.
2 Click here for more information regarding the calculation of total cash costs.