Overview -
The Cortez gold mine is located 70 miles SW of Elko in northeastern Nevada, USA. The mine employs approximately 450 people. A major discovery in 2003, Cortez Hills, is one of the most important gold discoveries in the U.S. in the past decade, and is expected to add significantly to the mine's production profile.
The Cortez mining venture
is the oldest continuously operating gold mining operation in Nevada. Proven and probable mineral reserves at Cortez as of September 1, 2005 are estimated at 11.1 million ounces of gold.
Currently Barrick operates three mines in the Cortez Joint Venture area, the Gold Acres, Pipeline, and Pipeline South Mines. Before its take over by Barrick, Placer Dome already mined 8.3 million ounces out of the Cortez Joint Venture area from the time period between 1991 and June 2004.
Cortez Joint Venture land package comprises approximately 400,000 acres or 625 square miles. Barrick has a 60% interest in the CJV, and Kennecott, a subsidiary of Rio Tinto Zinc, has 40%.
On some contiguous properties, the CJV is partnered with Coral Gold and Idaho Mining Corporation. Barrick is the lead explorationist and operator of these properties.
The old Cortez Mine located a few kilometers from the Cortez Hills discovery area operated as an open pit from 1969 until the early 1990's. The adjacent mill shut down in October 1999. A new processing plant was built and put into operation in 1996-97.
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