SHOWCASE GOLD MINE OF THE WEEK - PUEBLO VIEJO!!
The Pueblo Viejo mine located around 100km north-west of Santo Domingo in the Dominican Republic is currently the fifth largest gold mine in the world. Pueblo Viejo’s contained gold reserve as of December 2012 stood at 25Moz (302.9Mt grading 0.083oz/t gold), including approximately 3.888Moz of proven and 21Moz of probable gold reserves. The mine is owned and operated by Pueblo Viejo Dominicana Corporation (PVDC), which is a joint venture between Barrick Gold (60%) and Goldcorp (40%). The open pit mine exploits gold resources from two major oxide deposits, namely Monte Negro and Moore, as well as from three other small deposits. Pueblo Viejo was brought into commercial production in January 2013. It produced more than 360,000oz of gold during the first half of 2013. The full year production from Pueblo Viejo in 2013 is anticipated to be more than 800,000oz. The life of the gold mine is estimated to be more than 25 years - Mining Technology.