Peruvian Ministry of Environment asks Congress to drop bills that promote illegal mining

The project sits on top of the Mexican Silver Trend.

Company now expects to produce between 705,000-725,000 tonnes this year, down from the earlier 705-740,000 tonnes target.

The miner, which is the world's largest primary silver producer and Mexico's second largest gold company, revised silver output guidance down to between 62 million ounces and 64.5 million ounces from a range of 64.5 million to 67.5 million earlier.

Merian has an estimated mine life of 15 years and is exploring on other parts of the property.

Treasure Island is the northern-most project that is considered the most “fertile gold camp.”

The expansion is seen as a step in the right direction for BTO to hit its long-term 1 million oz. per year target.

No final decision has been made, and it’s also not clear whether all three of Acacia’s Tanzanian gold mines will be brought back into Barrick.

Company said feasibility study for its Boto gold asset outlines an economically robust, low cost production project which will produce 140,000 ounces of gold annually on average over a 13-year lifespan.

Precious metal minersaid the target represents "a high priority" for further exploration given its large size.