SANTO DOMINGO (Scrap Monster): Pueblo Viejo gold mine, one of the world's largest gold mining operations, which was left abandoned due to environmental issues for 13 years, will be opened shortly by a joint venture by two Canadian based gold companies in a environment friendly manner.
The new project will be a joint venture in which, Barrick Gold Corp will have 60% share and the rest 40% will be owned by Goldcorp Inc.
According to the officials, Barrick Pueblo Viejo project will begin processing gold later this year, and will take 12-18 months to reach full production of about 1 million ounces annually. Also it have plans to process silver, nickel among other metals.
Manuel Bonilla, president of the joint venture have reportedly said, "People have been scared, people have actually had a bad experience and now it's up to us to prove we can actually do the contrary." The joint venture project will take measures to ensure environment friendliness and will underwrite the the cleanup of past contamination.
Dominic Republic is believed to have weak environmental laws which has caused destruction to the nature in the past. Anyway it is believed Pueblo Viejo will be a huge economic boon for the Dominican Republic.
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