Barrick Updates Pueblo Viejo Mineral Resources & Reserves, Confirms 23-Year Mine Life
summarizeSummary
Barrick Mining Corporation has filed a technical report updating the Mineral Resource and Reserve estimates for its Pueblo Viejo mine, confirming a 23-year mine life and outlining significant capital investments for future operations.
check_boxKey Events
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Updated Mineral Reserves
Total Proven and Probable Mineral Reserves are estimated at 310 Mt, containing 20 Moz of gold and 120 Moz of silver (100% basis) as of December 31, 2025.
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Mine Life Extended
The remaining pit life is projected to be 23 years, extending operations until 2048, with processing continuing until 2049.
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Significant Capital Investment
A total Life of Mine (LOM) capital cost of US$4.17 billion is estimated, including sustaining capital and expansion projects like the Naranjo TSF.
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Naranjo TSF Project Progress
The critical Naranjo TSF project, vital for mine life extension, is advancing with feasibility studies complete and permitting expected in Q1/Q2 2026, alongside ongoing community resettlement efforts.
auto_awesomeAnalysis
This technical report provides a comprehensive update on Barrick's Pueblo Viejo mine, detailing updated Mineral Resource and Reserve estimates as of December 31, 2025. While total Proven and Probable Mineral Reserves saw a slight net decrease of 38,000 ounces of gold compared to the prior year, the report confirms substantial remaining reserves of 20 million ounces of gold and 120 million ounces of silver, supporting a projected mine life extending to 2049. The company plans significant capital expenditure of over $4.17 billion over the life of mine, including critical investments in the Naranjo Tailings Storage Facility (TSF) Project, which is essential for the mine's long-term operations. Investors should note the ongoing permitting and resettlement processes for the Naranjo TSF, which are identified as medium-level risks, though the company indicates these are being actively managed. The report reinforces the long-term viability and operational stability of Pueblo Viejo, a key asset for Barrick.
At the time of this filing, B was trading at $50.50 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $84.4B. The 52-week trading range was $17.00 to $54.69. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.