Barrick Awaiting Approval for Expansion of Punta Colorada Wind Project

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Researched by Industrial Info Resources (Sugar Land, Texas)-- Barrick Gold Corporation (NYSE:ABX) (Toronto, Ontario) submitted an environmental impact statement on June 18 to Chile's Region IV environmental assessment entity Corema to expand the Punta Colorada wind-generating project.

The original project consisted of a 20-megawatt (MW) windfarm equipped with 10 wind turbines to supply electricity to Chile's national power grid. For more information, see related July 23, 2007, article - Barrick Gold Submits Proposal to Build $40 Million Windfarm in Chile.

The total estimated investment cost has increased from $40 million to $70 million. Now the development calls for the expansion of the windfarm from 20 MW to 36 MW, increasing the number of wind turbines from 10 to 18 and adding 79 more acres, which puts the project's total land use at 597 acres. The facility will be in the town of El Chanar, which is about 70 kilometers north of La Serena in Region IV of Coquimbo, the community of La Higuera.

Once completed, the windfarm would be Chile's largest source of wind-generated power. The deadline for the environmental impact evaluation was set for September 12.

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