US Bureau of Land Management Approves Goldrush Mine
Barrick Gold Corporation has announced the approval of its Goldrush underground mine at the Cortez Complex near Beowawe, Nevada. The US Bureau of Land Management has issued a Record of Decision (ROD), marking a significant milestone for the project. The mine, belonging to Nevada Gold Mines (NGM), is poised for a phased production ramp-up starting in 2024.
Projected Production and Investment
Goldrush is set to commence production in 2024, initially yielding approximately 130,000 ounces of gold. By 2028, the mine is forecasted to significantly increase its output to around 400,000 ounces per annum. To date, Barrick and NGM have committed over $370 million to the project, with total spending expected to reach around $1 billion to achieve the planned production levels.