Barrick Gold Ramps Up Output at its New Underground Mine

SEATTLE (Scrap Monster): The ramping up of new underground mine at Gounkoto will extend life at Barrick Gold’s Luolo-Gounkoto gold complex.

According to Mark Bristow, President and Chief Executive, Barrick Gold Corporation, Loulo-Gounkoto was well on track to meet its annual production guidance. This is mainly on account of ramping up production at its third underground mine. The encouraging results from the Yalea Ridge and Gounkoto-Faraba targets also reconfirm the potential for further mine life extensions.

Bristow noted that Loulo-Gounkoto is one of the world’s greatest gold mining operations. It continues to be a member of the industry’s elite Tier One Club and the largest private sector contributor to the country’s GDP. It has always upheld its commitment to provide employment opportunities to Ghanaian nationals. Incidentally, Barrick Gold has been offering training to residents of the nearby Kenieba village to operate modern equipment at the new underground mine.

The company has paid $318 million to the government in taxes, royalties and dividends so far this year. Also, it has invested over $13 million in various community wellbeing projects and other initiatives.

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