Barrick Gold Submits Proposal to Build $40 Million Windfarm in Chile

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Researched by Industrial Info Resources (Sugar Land, Texas). Barrick Gold Corporation (NYSE:ABX) (Toronto, Ontario) has submitted a proposal to national environmental authorities to build a $40 million windfarm in the Punta Colorada area of La Higuera, in the Coquimbo region in Chile.

The Punta Colorada windfarm will be equipped with 10 wind turbines with the capacity to generate up to 20 megawatts of power and contribute to Chile’s national power grid. The project is regarded as the largest source of wind-generated energy in Chile. According to Barrick authorities, the undertaking is an investment in the power of innovation and is part of the Company’s efforts to reduce greenhouse gas emissions.

The Canadian mining company hired technical experts to develop baseline studies of the environmental and geographical conditions for the windfarm project. Thetechnology will be supplied by Seawind Group, an international provider of project engineering services to the wind energy industry.

At the same time, Barrick is installing a 2-megawatt turbine near the Veladero mine in the Argentine province of San Juan, which when fully operational by the end of 2007, will be the only turbine in the world operating at more than 4,000 metres above sea level.

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