Reports related to this article:
Project(s): View 6 related projects in PECWeb
Plant(s): View 4 related plants in PECWeb
en
Researched by Industrial Info Resources (Sugar Land, Texas)--Having completed its merger with Randgold Resources (Saint Helier, Jersey) in December 2018, Barrick Gold Corporation (NYSE:GOLD) (Toronto, Ontario) claims to be the largest gold mining company in the world. The company produced 4.5 million ounces of gold and 383 million pounds of copper in 2018, which was within its guidance range. Barrick had capital expenditures of $1.4 billion in 2018 and is progressing with mine projects in Nevada and throughout the world. Industrial Info is tracking more $6.1 billion in active Barrick projects.
In a press release regarding the company's 2018 performance, Barrick said, "Our Nevada growth projects at Cortez, Goldrush, and Turquoise Ridge continued to advance according to schedule and within budget, underpinning the next generation of profitable production from this core region for Barrick."
The company ramped up production at its Turquoise Ridge Mine in Nevada by 27% in 2018 to produce 268,000 ounces of gold. Barrick is planning some major projects at the mine to continue expanding production to up to 500,000 ounces per year. Barrick will convert a ventilation shaft at the mine to a production shaft to reduce the haulage distance from the mine's North Zone and increase ore production. The project is expected to be completed in 2022. For more information, see Industrial Info's project report. Accompanying this will be the addition of a new ventilation shaft, which is already underway and expected to be completed early next year. For more information, see Industrial Info's project report.
The Goldrush Mine is an underground mine that Barrick plans to construct. The mine would produce 440,000 ounces per year of gold over a 21-year mine life. Construction could begin in 2021 and be completed in 2023. For more information, see Industrial Info's project report.
At the Cortez Mine near Crescent Valley, Nevada, Barrick is planning an addition project that would add 300,000 ounces per year to production of the mine's current 1 million ounces per year over a period of five years. The project is expected to be completed by the end of 2021. For more information, see Industrial Info's project report.
In the press release, Barrick said, "We also advanced studies and test work in support of an expansion to increase throughput at the Pueblo Viejo mine in the Dominican Republic by 50%, with positive initial results." If the project is completed, the mine's ore feed would increase to 12,000 tons per day. The mine produced 581,000 ounces of gold in 2018. Construction could begin early next year for completion by the end of 2021. For more information, see Industrial Info's project report.
During 2018, Barrick also saw a bright note in its South American operations. In the company's fourth-quarter 2018 earnings conference call, Chief Executive Officer Mark Bristow said, "We're developing a new plan for Lagunas Norte, our Peruvian operation, following the suspension of the plan to sell all Barrick's assets in that country. Peru has a new government ... which is more mining-friendly than its predecessor, and it remains a key destination for Barrick in its endeavor to revitalize its greenfield exploration into South America." The company could begin construction of a carbonaceous mill and carbon-in-leach (CIL) processing plant addition at the mine next year, and perhaps an expansion of the mine, although that remains some years out. For more information, see Industrial Info's project reports on the CIL plant and mine expansion.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
In a press release regarding the company's 2018 performance, Barrick said, "Our Nevada growth projects at Cortez, Goldrush, and Turquoise Ridge continued to advance according to schedule and within budget, underpinning the next generation of profitable production from this core region for Barrick."
The company ramped up production at its Turquoise Ridge Mine in Nevada by 27% in 2018 to produce 268,000 ounces of gold. Barrick is planning some major projects at the mine to continue expanding production to up to 500,000 ounces per year. Barrick will convert a ventilation shaft at the mine to a production shaft to reduce the haulage distance from the mine's North Zone and increase ore production. The project is expected to be completed in 2022. For more information, see Industrial Info's project report. Accompanying this will be the addition of a new ventilation shaft, which is already underway and expected to be completed early next year. For more information, see Industrial Info's project report.
The Goldrush Mine is an underground mine that Barrick plans to construct. The mine would produce 440,000 ounces per year of gold over a 21-year mine life. Construction could begin in 2021 and be completed in 2023. For more information, see Industrial Info's project report.
At the Cortez Mine near Crescent Valley, Nevada, Barrick is planning an addition project that would add 300,000 ounces per year to production of the mine's current 1 million ounces per year over a period of five years. The project is expected to be completed by the end of 2021. For more information, see Industrial Info's project report.
In the press release, Barrick said, "We also advanced studies and test work in support of an expansion to increase throughput at the Pueblo Viejo mine in the Dominican Republic by 50%, with positive initial results." If the project is completed, the mine's ore feed would increase to 12,000 tons per day. The mine produced 581,000 ounces of gold in 2018. Construction could begin early next year for completion by the end of 2021. For more information, see Industrial Info's project report.
During 2018, Barrick also saw a bright note in its South American operations. In the company's fourth-quarter 2018 earnings conference call, Chief Executive Officer Mark Bristow said, "We're developing a new plan for Lagunas Norte, our Peruvian operation, following the suspension of the plan to sell all Barrick's assets in that country. Peru has a new government ... which is more mining-friendly than its predecessor, and it remains a key destination for Barrick in its endeavor to revitalize its greenfield exploration into South America." The company could begin construction of a carbonaceous mill and carbon-in-leach (CIL) processing plant addition at the mine next year, and perhaps an expansion of the mine, although that remains some years out. For more information, see Industrial Info's project reports on the CIL plant and mine expansion.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
