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Pueblo Viejo is a 22.4 million ounce proven and probable gold reserve, where Goldcorp’s interest represents 9.0 million ounces. The project is a partnership with Barrick Gold Corporation, the project operator.
The Pueblo Viejo project in the Dominican Republic is advancing on schedule and within its pre-production capital(1) budget of approximately $2.7 billion (100% basis), with initial production anticipated in the fourth quarter of 2011.
The Company’s 40% share of annual gold production in the first full five years of operation is expected to be approximately 400,000 ounces at total cash costs of about $275 to $300 per ounce. Pueblo Viejo is a long life asset with an expected mine life of over 25 years and the project continues to find new reserves, with 4.3 million ounces (100% basis) added in 2008.
To date Goldcorp has invested $417.5 million, $90.3 million of which related to the initial acquisition costs in 2006, with the balance of $327.2 million being funds invested to finance ongoing project development activities.
For contact information, please visit: www.barrick.com
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