Veladero Mine, the joint venture between Barrick Mining and Shandong Gold located in the province of San Juan, has submitted its application to join the RIGI with an investment of US$400 million.
By Panorama Minero
In its 20th year of production and as the country's leading gold exporter with 503,000 ounces in 2024, Veladero Mine has proposed an initiative to expand its productive capacity by an additional 1.6 Moz of gold.
This initiative, featuring a CAPEX of approximately US$400 million to be deployed between 2025 and 2028—with the goal of generating incremental production for the remainder of the mine’s life—was submitted to the RIGI (Regime of Incentives for Large Investments). It has the potential to generate a significant economic impact through roughly US$3.8 billion in additional exports, alongside US$200 million in provincial royalties.
During its Q2 results presentation, Barrick Mining emphasized that construction of the Phase 8 leach pad is divided into three stages—8A, 8B, and 8C—with the aim of completing them by 2026. The company also announced a new stage: Phase 9.
