China’s Shandong Gold and Canada’s Barrick Gold have submitted an application to the Argentine Ministry of Economy to add an investment of $400 million to their jointly controlled Veladero gold mine.
The investment plan submitted to Argentina’s Large Investment Incentive Scheme earlier this month aims to increase the mine’s total production to 1.6 million ounces between 2025 and 2028.
The Veladero, the largest gold mine in Argentina, began production in September 2005. It produced 504,000 ounces of gold last year and is forecasting production of between 380,000 and 440,000 ounces this year.
The proposed investment will be used to build a new mining phase, which is expected to add 89.2 million tons of stockpiling and processing capacity and generate $3.8 billion in export revenue by 2033….
Canada’s Barrick, China’s Shandong Gold Seek to Add $400 Million Investment in Argentine Mine
