Globe/wire say Barrick confident of Pueblo Viejo loans

2008-12-03 08:54 ET - In the News

Also In the News (C-G) Goldcorp Inc (2)

The Globe and Mail reports in a Bloomberg dispatch Wednesday that Barrick Gold said negotiations for a $1-billion (U.S.) loan to help pay for development of its Pueblo Viejo deposit in the Dominican Republic may be wrapped up by the middle of next year. The unbylined item quotes chief financial officer Jamie Sokalsky as telling a conference in Toronto, "We have in place a strong syndicate of global lenders, including international financial institutions, export credit agencies and some commercial banks." Barrick and Goldcorp jointly own the 22-million-ounce gold deposit, which they have said may cost $2.7-billion to develop and will produce its first metal in the second half of 2011. Barrick shares on Tuesday rose $1.99 to $34.64 on the Toronto Stock Exchange.