President and CEO Mark Bristow said the company expected to complete a feasibility study for the project, which could extend the liefe of the mine into the 2030s, next year.
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Total gold production, however, was up 8% to 1.367 million ounces thanks to the merger with Randgold Resources, completed in January.
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The world’s largest gold producer by market value, output and reserves, is expected to churn out 8.4 million ounces of the precious metal in 2019.
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The new business, yet to be named, is set to be the world’s largest gold producing complex.
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Newmont Goldcorp is now the world’s largest gold producer by market value, output and reserves, as well as the only bullion producer listed in the S&P 500 Index.
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Deal creates the world’s largest gold producer by market value, output and reserves.
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Deal creates the world’s largest gold producer by output, robing Barrick of its recently cemented supremacy.
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Newmont’s $10-billion acquisition of Canada’s Goldcorp is expected to close in the second quarter of the year.
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The one-time special dividend, worth $470 million, will be given to Newmont’s shareholders only if its friendly takeover of Canada’s Goldcorp is approved.
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Barrick said that although the ruling was not helpful because it just delays a decision on the future of its Pascua-Lama project, the company remains focused on resolving the legal and environmental issues around the project.
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