Barrick Gold Corp. says its "world-class" Pueblo Viejo mine in the Dominican Republic has achieved first gold production, with ore being processed through the first two of four autoclaves.
"Bringing this mine successfully into production on schedule, within capital guidance and with an excellent safety record, is the result of tremendous efforts from across the company," said CEO Jamie Sokalsky.
"Pueblo Viejo is a world-class asset, one of only a handful of mines that will produce more than one million ounces of gold per year. We expect it to be a major contributor of low-cost production to Barrick for decades to come."
The mine is proceeding with remaining plant commissioning activities, including the final two autoclaves, with commercial production anticipated in the fourth quarter. Barrick's 60 per cent share of 2012 production from Pueblo Viejo is expected to be 100,000 to 125,000 ounces at total cash costs of $400 US to $500 US per ounce.
