Barrick Gold recently discussed plans for four feasibility-level projects that have the potential to contribute more than 1 million ounces (oz) of annual gold production with initial contributions beginning in 2021. Nevada projects at Cortez Deep South, Goldrush, and Turquoise Ridge (75% interest) have been approved and are in execution. Optimization work on a sequenced project to extend the life of the Lagunas Norte mine in Peru is under way.
Turquoise Ridge was recognized as a core operation for exceptional growth potential, facilitated by the construction of a third shaft, productivity improvements, and an increase in processing capacity, Barrick Gold said. The construction of a third shaft at Turquoise Ridge, with an estimated initial capital investment of $300 million to $325 million has been approved by the company. Combined with additional processing capacity, this is expected to enable the mine to roughly double annual production to more than 500,000 oz per year.
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