Barrick to build US$95mn wastewater treatment plants

- Wednesday, September 14, 2011

Barrick to build US$95mn wastewater treatment plants

Toronto-based Barrick Gold (NYSE: ABX) plans to install two wastewater treatment plants costing US$95.4mn at its Pierina gold mine in Peru's Ancash region, according to the general manager of local subsidiary Barrick Misquichilca, Darrell Wagner.

The treatment plants are part of the company's plan to extend the mine life from 2014 to 2018, Wagner was reported as saying by local press at the Perumin mining fair, being held in Arequipa region this week. Piernina's output totaled 191,000oz last year.

The mining company aims to invest US$550mn in Peru up to 2013 to strengthen its operations in the country.

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Barrick is the world's largest gold producer. It turned out 1.96Moz in Q1 and expects to produce 7.6M-8.0Moz in 2011. In Latin America, Barrick also has operating mines and projects in Argentina, Chile and the Dominican Republic.