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Construction|Gold|Infrastructure|Mining|PROJECT|Underground|Infrastructure|Operations
Construction|Gold|Infrastructure|Mining|PROJECT|Underground|Infrastructure|Operations
construction|gold|infrastructure|mining|project|underground|infrastructure|operations

Goldrush underground gold project, US

Image of gold bars

Photo by ©Bloomberg

12th April 2024

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

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Name of the Project
Goldrush underground gold project.

Location
Cortez Complex near Beowawe, in Nevada, in the US.

Project Owner/s
Nevada Gold Mines (NGM), a joint venture between Barrick Gold Corporation (61.5%) and Newmont Mining (38.5%).

Project Description
The project is forecast to produce an estimated 130 000 oz of gold in 2024, increasing to about 400 000 oz by 2028.

Potential Job Creation
The mine is expected to create 500 jobs during construction and 570 jobs during operations.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
About $1-billion.

Planned Start/End Date
The long-life mine is expected to start ramping up production in 2024, after the commissioning of the initial project infrastructure, and reach commercial production in 2026.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Barrick investor and media relations Kathy du Plessis, tel +44 20 7557 7738 or email barrick@dpapr.com
 

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

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