Donlin Gold
The Donlin Gold project is a large, undeveloped, refractory gold deposit in Alaska about 450 kilometres northwest of Anchorage. In December 2007, Barrick and NovaGold formed a limited liability company on a 50/50 basis to oversee the development of the project. As of year-end 2010, Barrick’s share of measured and indicated gold resources was 19.4 million ounces1.
The Donlin Gold project feasibility study revisions, which include updated costs and the utilization of natural gas, are being finalized for submission to the Board of Donlin Gold LLC in Q4 2011. Mine construction capital is expected to be approximately $6 billion (100% basis) with an additional $1 billion (100% basis) for the construction of a natural gas pipeline, which is anticipated to lower long term power costs and offer a better environmental and operational solution for power connection to the site. Permitting is expected to commence in the first half of 2012.
- Click here for more information regarding reserve and resource measurements.