Barrick Received Green Signal for Goldrush Gold Mine

SEATTLE (Scrap Monster): Barrick announced that the plans of operations submitted by Nevada Gold Mines (NGM) for its new Goldrush underground gold mine near Beowawe, Nevada has received a Record of Decision (ROD) in approval from the U.S. Bureau of Land Management. The ROD has been issued following several years of consultation and impacts analysis studies by independent agencies.

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The mine project will now see commissioning of the initial project infrastructure, followed by ramping up of production in 2024. The production in 2024 is forecast at 130,000 ounces, which is expected to witness gradual growth to touch around 400,000 ounces per year by 2028. Currently, production equipment are being delivered to the site. The company has also ramped up recruitment to various positions.

It must be noted that Barrick and NGM have invested more than $370 million in the project till date. The company expects the total project spending to exceed $1 billion, in order to achieve the planned production.

Goldrush is anticipated to create around 500 jobs during construction phase and 570 new jobs during operations. In addition, it will generate hundreds of millions of dollars in taxes, a part of which will be utilised towards improving standards of education in Nevada.