Name of the Project
Pueblo Viejo life-of-mine extension project.

Location
Sanchez Ramirez pro­vince, Dominican Republic.

Project Owner/s
Barrick Gold, in a 60:40 joint venture with Newmont Corporation.

Project Description
The project aims to advance a plant expansion and tailings storage facility (TSF).

The new TSF will allow for operations to continue beyond 2040 at an average of 800 000 oz/y of gold.

Potential Job Creation
The company’s workforce, which is 97% Dominican, is expected to increase as the project develops, consequently increasing opportunities for women to participate.

It will also promote the development of the local economy based on the mine’s suppliers and contractors.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
$2.1-billion.

Planned Start/End Date
The project was approved to proceed in March 2020 and is expected to be completed by the end of 2022.

Latest Developments
Barrick Gold’s portfolio of gold and copper assets is projected to show strong growth over the next five to ten years, president and CEO Mark Bristow has said.

The unlocking of value at the Pueblo Viejo gold mine, following the finalisation of the location for the new TSF, will support that growth, he has noted.

The latest geological model for the expansion project is showing potential for upgrading two-million ounces of inferred resources to indicated that, together with about ten-million ounces of measured and indicated resources, are expected to convert to proven and probable reserves.

Key Contracts, Suppliers and Consultants
None stated.

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