The company expects both the province and the federal government environmental decisions on the gold-silver project to be issued in the third quarter of the year.
Converting the power plant that feeds the Pueblo Viejo mine from heavy fuel oil to natural gas is expected to reduce the operation’s average cost of sales and all-in sustaining costs by about $54 per ounce.
The mine, behind schedule ever since it began producing in May 2014, has been affected by a series of technical problems in its ramp-up phase, costing its owners hefty impairment charges.
Decision follow relentless protests in a town near the mine, where locals accuse the company of polluting their source water and the air, causing humans and animals respiratory illnesses, miscarriages, birth defects and disabilities.
Indicated and inferred gold equivalent resources increased by whooping 208% and 172% respectively, when compared to the project’s maiden mineral resource estimate of 2015.