San Juan – March 28, 2025. On the occasion of the 20th anniversary of production at the Veladero mine, Barrick's President and CEO, Mark Bristow, visited San Juan to present an updated performance review of Veladero in 2024 and share the future vision for one of the country's most important mining assets.
By Panorama Minero
During the presentation, Bristow highlighted that Veladero was Argentina’s leading mining exporter in 2024, with over US$1.36 billion, consolidating its contribution to the generation of foreign exchange for the country. "Veladero is now a different mine, the result of six years of a clear strategy, disciplined execution, and sustained investment. This has added value to the mine on its 20th anniversary, but even more importantly, there is still much to build together," he stated.
Bristow emphasized that over US$422 million has been invested in Veladero since 2019, and that the current focus is on extending the mine’s life beyond 2034. The expansion of the leaching valley, with a projected investment of over US$270 million until 2027, was highlighted. Additionally, the exploration program in the Veladero district is being deepened in search of new resources to sustain the future of the operation.
The presentation also emphasized the model of collaboration with local communities, highlighting the launch of nine Community Development Committees (CDC) in Jáchal and Iglesia, where social projects in health, water, education, infrastructure, and institutional strengthening are prioritized. By 2024, 33 initiatives were identified in these CDCs, with 19 already completed with the direct participation of local residents.
"Veladero is synonymous with transformation in San Juan and a mine built with local labor, with over 3,700 workers, 91% of whom are from San Juan, and more than 290 local companies. Veladero, in addition to being a major exporter, is a story of local development that leaves a legacy of value for a country that seeks to incorporate associative mining as a new pillar of growth," concluded Bristow.
