Barrick Gold Corp's Veladero mine set for June restart

Barrick Gold Corp's troubled Veladero mine could be up and running again as early as June, a government official told reuters.

The Veladero mine, which is situated in the San Juan province of Argentina, will look to reopen with a strategic improvement plan in place following its third cyanide spill in as little as 18 months.

Eduardo Machuca, the secretary of environmental management and mining control, told Reuters that improvements are well underway following reviewal from local authorities.

Local judge Pablo Oritja would also need to green light a return to full operations at the mine, which has been banned from adding cyanide to the gold processing facility since pipes broke on March 28.

The Veladero mine is a conventional open-pit operation located in the San Juan Province of Argentina, in the highly prospective Frontera District.

Veladero produced 544,000 ounces of gold in 2016, at a cost of sales of $872 per ounce, and all-in sustaining costs of $769 per ounce.

Gold production in 2017 is expected to be 630,000-730,000 ounces (100% basis), at a cost of sales of $740-$790 per ounce, and all-in sustaining costs of $890-$990 per ounce.