Barrick Mining has plans to drill for gold and copper in Jamaica in 2024, having formed a partnership with Geophysx Jamaica. This collaboration focuses on exploring the island for mineral deposits, leveraging a large area marked by geological potential similar to that in the Dominican Republic. Barrick aims to expand its mining operations significantly as part of its global strategy.
Barrick, the second-largest gold and copper mining company globally, has announced plans to conduct drilling for gold and copper in Jamaica this year. The company formed a partnership with Geophysx Jamaica in 2024 to explore for mineral deposits across the island. Their initial analysis suggests promising targets with the potential for porphyry and epithermal deposits.
Geophysx, led by Robert Stewart, son of the late hotelier Gordon ‘Butch’ Stewart, has invested significantly in developing an extensive ore map of Jamaica. The Ministry of Mining has granted the company multiple licenses to facilitate its exploration activities. Barrick’s exploration includes a broad area of 4,000 km², enhancing the potential for discoveries.
Barrick characterized its Jamaican venture as “a new frontier for gold and copper exploration,” particularly emphasizing geological similarities to the Dominican Republic, where the Pueblo Viejo gold mine is located. Overall, this expansion aligns with Barrick’s strategic growth objectives, as the company operates on four continents.
Founded in 1983, Barrick has established itself as a key player in the global mining industry. Beyond Jamaica, it has mining interests in various countries, including Canada, the U.S., Argentina, and several African and South American nations. Its diverse portfolio positions Barrick to capitalize on opportunities across different mining landscapes, including the potentially lucrative Jamaican market.
Barrick’s exploration plans in Jamaica signal a significant step in mineral resource assessment through a partnership with Geophysx. The venture, expected to unfold over the coming years, could leverage Jamaica’s geological potential similar to that of the Dominican Republic. With its extensive global presence, Barrick enhances its capabilities to tap into new mining opportunities, contributing to the mineral industry both locally and internationally.
Original Source: jamaica.loopnews.com
