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Barrick says Argentina mine operations may resume within two weeks

Published 09/19/2016, 02:51 PM
Updated 09/19/2016, 03:00 PM
© Reuters.  Barrick says Argentina mine operations may resume within two weeks

DENVER (Reuters) - Barrick Gold Inc's (TO:ABX) Veladero gold mine in Argentina, one of its five core mines, could resume operations in the next two weeks, Barrick President Kelvin Dushnisky said in an interview on Monday.

"I am hopeful that it could be up and going in that kind of two-week window depending on how the reparation work goes," Dushnisky said.

Barrick said on Thursday that mine operations were temporarily suspended by the Argentine government after a "small quantity" of processing solution containing cyanide leaked outside a processing area.

The solution flowed over a berm, or raised bank, surrounding the leach pad where gold is processed, after a pipe was damaged on Sept. 8 by a large block of ice that rolled down a valley slope.

As part of the repair work, Barrick, the world's biggest gold producer, will raise the height of the berm, Dushnisky said on the sidelines of the Denver Gold Forum.

The restart will be subject to the government of the San Juan province inspecting the work. The government has been "very responsive" in the past, Dushnisky said.

Presuming the repair work is finished within two weeks, "we don't anticipate any material impact to the project guidance," he said.

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