World > Central-south-america

Veladero JV begins

Shandong Gold Mining Co (CH:600547) has completed its US$960 million purchase of 50% of Barrick Gold’s (CN:ABX) troubled Veladero gold mine in Argentina.

World > Central-south-america

Veladero JV begins

Shandong Gold Mining Co (CH:600547) has completed its US$960 million purchase of 50% of Barrick Gold’s (CN:ABX) troubled Veladero gold mine in Argentina.

Veladero JV begins

The Barrick and Shandong JV at Veladero begins

The deal was announced in April, just a week after Barrick reported the third spill of cyanide solution in 18 months at Veladero, which resulted in Argentine authorities restricting cyanide to the mine’s heap leach facility pending approval of remedial works.