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Mining News October 22, 2021 01:10:46 PM

Barrick Gold Might be Forced to Stop Mining Operations at Pueblo Viejo

Paul Ploumis
ScrapMonster Author
The extension would mean that the company will continue to be a major value creator for the country and its citizens far into the future.

Barrick Gold Might be Forced to Stop Mining Operations at Pueblo Viejo

SEATTLE (Scrap Monster): Canadian miner Barrick Gold Corporation expressed fears that it would be forced to stop mining operations at its Pueblo Viejo joint venture mine in the Dominican Republic by the end of this year, if it fails to get approval for the proposed new tailings storage facility (TSF). Consequently, the mine production will come to a halt in 2020, it said.

According to company press release, the TSF project is part of the company’s planned $1.3 billion expansion, aimed at extending the mine life beyond 2040. The extension would mean that the company will continue to be a major value creator for the country and its citizens far into the future.

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Ever since the decision to proceed with TSF project, the company has been in close touch with nearby communities. In May this year, a consortium of 87 environmental and aid groups opposed construction of the related tailings dam, highlighting the risks caused by increased mine waste to local communities. Further to this, the company had agreed for an independent study under the leadership of the government.

The mine is a joint venture between Barrick 60% and Newmont 40%. It had begun commercial production in 2013. It provides employment to around 2,500 people, majority of who are locals.

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