Barrick Gold Corporation (NYSE:ABX, TSX:ABX) announced that commercial production is underway at the Pueblo Viejo mine in the Dominican Republic.
As quoted in the press release:
Pueblo Viejo Highlights (all figures are Barrick’s 60 percent share unless noted)
- Ramp-up to full capacity is expected to occur in the second half of 2013 and production for the year is anticipated to be 500,000-650,000 ounces1
- Barrick’s share of annual production in the first full five years of operation is expected to average 625,000-675,000 ounces
- 25.3 million ounces of reserves (100 percent basis) as of year-end 2011
Barrick’s President and CEO, Jamie Sokalsky, said:
We are pleased to have successfully completed Pueblo Viejo last year, in line with guidance, and now also to have reached commercial production.