Loading ...Canada’s Barrick Gold (TSX, NYSE: ABX) said Monday it plans to spend about $2 billion developing four projects located in the U.S. and Peru with construction beginning no later than 2019.
The Toronto-based miner, which expects to generate at least 4.5 million ounces of gold a year through 2020, said the targeted projects would help Barrick maintain and grow free cash flow beyond the end of the decade.
The world’s largest gold producer will spend $1 billion as initial capital investment on its Goldrush asset, with construction expected to start in 2020. This Nevada-based project is expected to produce 440,000 ounces of gold a year, with all-in sustaining costs of $665 per ounce.
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