Maaden-Barrick Gold JV to render 100 mln pounds of copper in 2016

Barrick Gold, the world’s largest gold producer, said its joint venture with Maaden at Syed mine will render 100 million pounds of copper by 2016, expecting a final deal with Maaden in the fourth quarter.
 

In July, Maaden announced a tie-up with Barrick Gold to invest USD 210 million in the cooper mine with reserves of around 650,000 tonnes.
 

The first shipment of concentrated cooper from the mine is planned by early 2016 and final output will be 100-130 pounds, said Barrick Gold, adding that production cost will be among the lowest world over.