Barrick Gold Ready to Partner on Cobre Panama Copper Mine
Barrick Gold management open to opportunities in Canada and Panama
TORONTO, August 12, 2024 - Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX) ("Barrick Gold" or the "Company") announced today that it is ready to become a partner in the Cobre Panama copper mine, once the Panamanian government approves the project.
Barrick Gold CEO Mark Bristow said the Company is "open to opportunities in both Canada and Panama." He added that the Cobre Panama project is "a world-class asset with the potential to be a significant contributor to our portfolio."
The Cobre Panama project is located in the Colon Province of Panama. It is one of the largest undeveloped copper deposits in the world, with an estimated reserve of 3.1 billion tonnes of ore grading 0.6% copper. The project is expected to produce approximately 300,000 tonnes of copper per year over a 40-year mine life.
Barrick Gold has a long history of operating in Panama. The Company has been operating the Veladero gold mine in the country since 2005. Veladero is one of the largest gold mines in the Americas.
The Cobre Panama project is expected to create thousands of jobs in Panama and contribute significantly to the country's economy.
Barrick Gold is a leading gold and copper producer with operations in 13 countries. The Company is headquartered in Toronto, Canada.
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