NewsWhore
08-20-2009, 06:20 PM
The director of the Department of Mining, Octavio Lopez reported yesterday that the Barrick Gold Corporation's mining project has dismantled the old mining structures of the Rosario Mining Company in Pueblo Viejo, Cotui, and is preparing to install new equipment. According to the director, the construction of the new facility will take three years and cost US$2.7 billion. The investment for this year is expected to be US$900 million and US$300 million in working capital.
The new mine is currently employing 2,368 persons in the area and once operations begin this number is expected to increase. Lopez praised Barrick's vision for community development.
He pointed out that Barrick has 20 years of work ahead, which means that the reserves are sufficient to merit a project of this size.
Lopez also announced the start of mining of copper in the Dominican Republic for the first time. The mine, located in Cedro Maimon has proven deposits of between 8 and 10 million tons of oxides and sulfates. Regarding the production of copper he said that the "novel thing of this mine is that the plant that they have installed is open to process any type of minerals from satellite deposits that are found in this mining district but that are too small to merit their own processing plant."
http://www.barrick.com/News/PressReleases/PressReleaseDetails/2009/... (http://www.barrick.com/News/PressReleases/PressReleaseDetails/2009/PuebloViejoDominicanaCorporationReportsProgressonPuebloViejoProject/default.aspx)
http://www.globestarmining.com/SiteResources/ViewContent_Corp.asp?... (http://www.globestarmining.com/SiteResources/ViewContent_Corp.asp?DocID=133&v1ID=&RevID=482&lang=1)
More... (http://www.dr1.com/index.html#8)
The new mine is currently employing 2,368 persons in the area and once operations begin this number is expected to increase. Lopez praised Barrick's vision for community development.
He pointed out that Barrick has 20 years of work ahead, which means that the reserves are sufficient to merit a project of this size.
Lopez also announced the start of mining of copper in the Dominican Republic for the first time. The mine, located in Cedro Maimon has proven deposits of between 8 and 10 million tons of oxides and sulfates. Regarding the production of copper he said that the "novel thing of this mine is that the plant that they have installed is open to process any type of minerals from satellite deposits that are found in this mining district but that are too small to merit their own processing plant."
http://www.barrick.com/News/PressReleases/PressReleaseDetails/2009/... (http://www.barrick.com/News/PressReleases/PressReleaseDetails/2009/PuebloViejoDominicanaCorporationReportsProgressonPuebloViejoProject/default.aspx)
http://www.globestarmining.com/SiteResources/ViewContent_Corp.asp?... (http://www.globestarmining.com/SiteResources/ViewContent_Corp.asp?DocID=133&v1ID=&RevID=482&lang=1)
More... (http://www.dr1.com/index.html#8)