Rumours come a year after the gold miner vowed to spend $640 million to extend the life of Lagunas Norte, worth about $1.4 billion according to industry experts.
Dominican Republic Mining News
The country's mining regulator will have to issue a new temporary closure plan for the project, including comments from other government offices.
The company is focusing on assets with the potential to add as much as 1.1 million ounces of gold to its total output beyond 2021.
But lower all-in sustaining costs mitigated the impact of decreased production, preliminary full-year figures show.
The gold producer said the region will play an increasingly important role in its growth strategy.
Ten gold mines that timed the gold price rally to perfection – Barrick owns four of them.
Analysts believe that Barrick’s partner in Papua New Guinea, Zijin Mining Group, could be the one to help turn Pascua-Lama into a success.
The asset writedown is primarily related to two Latin American assets — Pascua Lama project, on the border of Chile and Argentina and Pueblo Viejo, in Dominican Republic.
Due to a mechanical issue detected at its jointly owned Dominican Republic-based mine.
Barrick Gold Corp. is considering raising funds from its key gold mine in the Dominican Republic, according to people familiar with the matter, as the world’s largest gold producer races to pay down its debt.
Barrick denied Monday having paid the families who own lands expropriated for the gold mine during the 1950's, and affirmed that it was the Dominican State which acquired the properties.
President Danilo Medina vetoed bill creating a National Park, which would have blocked the expansion of Glencore's Falcondo mine.
The country’s legislators approved this week a ruling that declares the region surrounding the mine a national park, affecting Glencore's ability to expand it.
The gold giant's ongoing dispute with Mexican landowners could affect 2014 production at its currently halted Los Filos mine.
Highlights at 22,600 hectare Neita concession include 38.0 metres averaging 5.13 g/t Au; enough to send stock soaring 30%..
Cutting average costs by $100 an ounce in 2013 and no new mines planned.
The end to an 8-month dispute over its flagship Pueblo Viejo mine sees ABX stock retreat 2.3%.
World number one gold miner contradicts earlier reports.
Ongoing spat over royalties and profit sharing.
Construction work at Pascua Lama halted once again. Dominican authorities pressing for a “more favourable” contract in Pueblo Viejo.
In order to make wise investment decisions, gold investors must coldly assess economic realities.
Companies with cash and strong management continue to go unrecognized, says analyst.
The country's Mining Agency said it would likely let Xstrata go ahead with mine expansion plans, but added Barrick's Pueblo Viejo contract should be reviewed.
Local authorities are reviewing the contract with Barrick in a bid to make it “more favourable” to the country.
Total process will take up to four months from the moment a company submits its application.