Bullion major Barrick Gold has reached the seventeenth anniversary since it poured the first gold at its Veladero mine, in Argentina, and while the company remains committed to the asset, CEOIn a statement issued following a media briefing at the weekend, he said that Barrick, which was exploring in San Juan and across the country, had “raised concerns about the mining industry’s viability”.
Veladero is a 50:50 joint venture between Barrick and Shandong Gold. Barrick aims to extend the mine life beyond 2030 and to elevate it to a tier-one asset, meaning that it will produce at least 500 000 oz/y of gold and have a life of no less than ten years. Also, to continue developing an open partnership with local communities, Veladero would launch four new Community Development Committees in the departments of Iglesia and Jáchal, bringing the total to six, and increasing the frequency of participatory environmental monitoring. The role of the CDC is to allocate the community investment budget to projects prioritized by local stakeholders, with each committee made up of a mix of local leaders and a variety of community members.