Gold and Silver

Pueblo Viejo brings forward tax payment to help Dominican economy

Pueblo Viejo brings forward tax payment to help Dominican economy
Mining News Pro - The Pueblo Viejo gold mine – a joint venture between Barrick Gold (60%) and Newmont (40%) – has made an early tax payment this month to help contribute to the stability of Dominican Republic and aid the country in containing the spread of Covid-19.
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According to Mining News Pro - Pueblo Viejo paid $113-million to the Internal Tax Collector, despite the government extending its deadline for certain tax declarations, operator Barrick has said.

In the first four months of 2020, Pueblo Viejo has paid $185-million in direct taxes and $9-million in indirect taxes to the Dominican government. These payments include advances of income taxes, net profit interest and royalties on the sales of gold and silver paid in the first quarter of 2020, as well as the final settlement of the 2019 fiscal year

This brings Pueblo Viejo’s total tax payments to the government to more than $2-billion since 2013.

Pueblo Viejo`s exports in the first quarter of this year represented 37% of the country`s total exports of national goods, with a value of $399-million of a total of $1.08-billion.

Barrick notes that Pueblo Viejo has been supporting actions to mitigate the impact of Covid-19 in the country and the communities near its operations. To this end, it has committed nearly $1-million to various initiatives, including the donation of face masks, latex gloves, gowns, hats and antibacterial gel, delivery of non-perishable food kits to nearby communities, and the donation of 53 000 gallons of ethyl alcohol.

“Our aim is to continue contributing to the social and economic development of the Dominican Republic by applying our sustainability philosophy to create long-term value for all our stakeholders, especially the government and people of the Dominican Republic,” says Barrick Pueblo Viejo president Juana Barceló.


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