GLOBAL NEWS •
Global news
the number of direct employees and contractors rising by 1 400
to almost 5 000 since January 2019, and the number of local
suppliers increasing almost threefold. In line with Barrick’s local
employment policy, 99% of Barrick’s workforce are Argentinian.
Since 2005 Veladero has contributed some USD9.5-billion to
the Argentinian economy through taxes, royalties, salaries and
payments to local suppliers. The mine has established a new
community fund which, depending on production, is expected
to generate more than USD88-million for local infrastructure
development over the next decade.
“Argentina has the potential to rebuild its economy for its
people and Veladero can make a significant contribution to that
process. Realising that potential requires the government and
the industry to work together towards long-term goals and to
guard against short-term fiscal measures which could destroy
this opportunity,” says Bristow.
ARGENTINA:
VELADERO’S LIFE EXTENDED
The life of the Veladero gold mine in Argentina has been
extended to at least 10 years following a comprehensive review
of its strategy and business plan. According to Barrick Gold
Corporations president and CEO, Mark Bristow, the company’s
review included the reinterpretation of the mine’s geology and
an ongoing infill drilling campaign.
“We established exploration and resource management teams
to identify satellite orebodies with the potential to deliver
an increase in resources and reserves. Our aim is to extend
Veladero’s life of mine beyond 2030 and elevate it to a Tier One
asset,” says Bristow. Barrick defines a Tier One mine as one that
produces in excess of 500 000 ounces of gold per annum and
has a life of at least 10 years.
Bristow said the next step in Veladero’s transformation would
be to connect the mine to cleaner, cheaper power from the grid
in neighbouring Chile. Once commissioned in the second half
of this year, this could halve the mine’s carbon footprint and
potentially reduce its cut-off grade, creating an opportunity to
further increase the mineable reserves.
Projects related to revitalising Veladero, such as the leach pad
expansion, have created new employment opportunities, with
KAZAKHSTAN:
GRINDING MILL FOR GOLD
MINER
Outotec has signed a contract with Kazakhstan’s largest gold
miner RG Gold for the delivery of two grinding mills for the
Raygorodok gold mine in northern Kazakhstan. The contract
price is not disclosed, but deliveries with similar scope are
typically worth around EUR10-million. The order has been
booked in Outotec’s 2020 first quarter order intake.
Outotec’s delivery includes two ball mills with associated
ancillaries and spare parts to the customer’s carbon-in-leach
plant expansion project. The ball mills feature the newly
released Outotec Polymer Hydrostatic Shoe Bearing (HSB)
system, which improves grinding mill availability and simplify
maintenance. Deliveries are scheduled for 2021.
The Raygorodok gold deposit is one of the largest gold deposits
in Kazakhstan with 6 million ounces of estimated reserves. “We
are committed to working closely with our customers to keep
the mining industry moving even during these exceptional
times," says Paul Sohlberg, head of Outotec’s minerals
processing business.
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African Mining • May 2020 • 11