One of the worlds largest gold resources has taken a step closer to becoming an operating mine, following major federal permits.
Barrick Gold has announced in a statement this week tgat the U.S Army Corps of Engineers and the U.S Bureau of Land Management have issued a single Federal Record of Decision (ROD) for the Donlin Gold project following completion of the federal National Environmental Policy Act process.
The receipt of the ROD and federal permits represents a very important milestone in Barrick’s development of the Donlin Gold project, which is one of the world’s largest and highest grade undeveloped open pit gold resources.
Located in Alaska, the second largest gold-producing state in the U.S, Donlin has approximately 39 million ounces of gold grading 2.24 grams per tonne in the measured and indicated resource categories (100 percent basis).
Barrick believes there is potential to produce, on average, more than one million ounces per year over a 27-year mine life on a 100% basis.
“The issuance of the Donlin Gold ROD and key project permits is a significant milestone for both partners,” said Rob Krcmarov, Executive Vice President, Exploration and Growth for Barrick.
“It would not have been possible without exceptional professionalism of the Donlin Gold team as well as members of the Corps, BLM, and other federal and state agencies. As one of the largest undeveloped gold deposits in the world, Donlin Gold represents exceptional optionality within our portfolio. Now, with key permits in hand, we can concentrate on further exploring ways of reducing initial capital and unlocking the value of this asset for all of our partners, in keeping with our deep commitment to community engagement and environmental stewardship.”