Deep sea mining puts $560 billion in land extraction at risk — report
Even in optimal scenarios, the activity would generate only $6.25 million in tax revenue for countries involved, says Planet Tracker.
Barrick Gold (NYSE: GOLD, TSX: ABX) announced Monday it has grown its exploration team through the appointment of geologists Aoife McGrath and Leandro Sastre in the newly created positions of vice president exploration for Africa and Middle East, and Latin America and Asia Pacific, respectively.
The world’s second-largest gold miner in March unveiled a 10-year production plan aimed at becoming the most valued bullion company. The appointments are in line with its objective of finding and developing the best assets, Barrick said.
The strategy, outlined in its first annual report since its merger with Randgold Resources last year, includes boosting Barrick’s production to about 5 million ounces of gold a year.
Barrick’s new VP exploration, Africa and Middle East, Aoife McGrath, has worked with and led exploration teams in Africa, North and South America and Europe, and her experience spans the full spectrum of company size and exploration stages. Named as one of the ‘Global 100 Inspirational Women in Mining’, she has been involved in a number of major discoveries and brings strong commercial skills to the role, Barrick said.
Leandro Sastre was previously mine operations and technical manager at the Veladero gold mine. His base ranges from exploration through ore control to resource modelling. Sastre was closely involved with Exeter’s discovery and delineation of the Caspiche orebody in Chile, now part of Barrick’s Norte Abierto project, and the Cerro Moro orebody in Argentina, which is now an operating mine.
Barrick boss Mark Bristow said the appointments reflect Barrick’s commitment to what it regards as its main growth driver.
“Exploration has always been an integral part of Barrick’s strategy of creating value and we look forward to the contribution Aoife and Leandro will make towards adding to our global mineral inventory,” Bristow said.
