Barrick and NGM Goldrush mine gets go-ahead

Published by Jane Bentham,
Editorial Assistant

Global Mining Review,

The US Bureau of Land Management has issued a Record of Decision approving Nevada Gold Mines’ plan of operations for its new Goldrush underground mine at the Cortez Complex near Beowawe, Nevada.

Barrick and NGM Goldrush mine gets go-ahead

The long-life mine is expected to start ramping up production in 2024 after the commissioning of the initial project infrastructure and is forecast to produce 130 000 oz in 2024 and grow to approximately 400 000 oz/y by 2028.

Barrick and NGM have invested more than US$370 million in the project to date and the company anticipates spending a total of approximately US$1 billion to get to planned production. Recruitment is being ramped up and the delivery of production equipment is on track.

The issuance of the ROD follows a multi-year consultation and independent impacts analysis process pursuant to the National Environmental Policy Act, which included specialist environmental studies. In the course of the analyses, all stakeholders were given the opportunity to engage with NGM and contribute to the outcome.

It is anticipated that Goldrush will create a total of approximately 500 jobs during construction and 570 new jobs during operations. Additionally, Goldrush will generate hundreds of millions of dollars in net proceeds tax and gold and silver excise taxes, the latter of which are earmarked for education in Nevada.

NGM, majority-owned and operated by Barrick Gold Corporation, is the world’s largest gold production complex. Barrick president and chief executive Mark Bristow said the addition of Goldrush would not only expand an asset base that already hosts three Tier One mines but was a clear indication of the complex’s potential for continuing growth.

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