Barrick Pours First Gold at
New Tanzania Mine
Tue March 15, 2005 4:28 PM GMT-05:00
TORONTO (Reuters) - Barrick Gold Corp. said on Tuesday it has started production at its Tulawaka gold mine in Tanzania, the first of four mines it plans to start up over the next year to increase output by 40 percent in 2007.

Barrick, the world's third-largest gold miner, expects Tulawaka to produce 70,000 to 75,000 ounces of gold at a total cash cost of about $210 to $220 an ounce this year. Seventy percent-owned Tulawaka is the smallest of the four development projects.

Toronto-based Barrick plans to pour its first gold at the Lagunas Norte mine in Peru in the third quarter, to be followed by the start of the Velader mine in Argentina in the fourth quarter. The Cowal operation in Australia is expected to start output in the first quarter of 2006. Barrick produced just short of 5 million ounces of gold in 2004.

It expects its suite of projects to boost output to between 6.8 and 7 million ounces in 2007.

FOR MORE INFO ON BARRICK IN TANZANIA
http://www.leat.or.tz
http://www.minesandcommunities.org
http://www.theperspective.org_1
http://www.theperspective.org_2

more to come ...