Barrick Gold Corporation announced that it has achieved commercial production at its 60% owned Pueblo Viejo mine in the Dominican Republic. Pueblo Viejo was completed at a capital cost of $3.7 billion and created more than 11,000 direct jobs during the construction phase of the project. The operation is expected to support about 2,000 direct jobs plus nearly 10,000 indirect jobs over its +25 year mine life, with Dominicans accounting for nearly 90% of the full-time workforce.

Pueblo Viejo highlights (all figures are Barrick's 60% share unless noted): ramp-up to full capacity is expected to occur in the second half of 2013 and production for the year is anticipated to be 500,000-650,000 ounces; barrick's share of annual production in the first full five years of operation is expected to average 625,000-675,000 ounces; and 25.3 million ounces of reserves (100% basis) as of year-end 2011.