Barrick, the world’s second-largest gold and copper miner, has confirmed plans to drill for gold and copper in Jamaica this year.
The mining giant entered a partnership with local company Geophysx Jamaica in 2024 to explore the island for potential mineral deposits.
“Analysis and interpretation of Geophysx’s extensive data, along with field reconnaissance work, have identified district-scale targets with porphyry and epithermal potential. Follow-up work is ongoing, with drilling planned for 2025, pending permitting approval,” Barrick stated in its recently released annual report.
Geophysx, owned by Robert Stewart, son of the late hotelier Gordon ‘Butch’ Stewart, has made significant investments in creating a comprehensive ore map of the island. The company holds multiple licences from the Ministry of Mining to support its exploration efforts.
Barrick described its venture in Jamaica as “a new frontier for gold and copper exploration” made possible through its earn-in agreement with Geophysx. The agreement grants access to 4,000 km² of land samples. Barrick also noted geological similarities between Jamaica and the Dominican Republic, home to the Pueblo Viejo gold mine, one of the largest in the Americas.
Founded in 1983, Barrick is a major player in the international mining sector, with operations spanning four continents. In addition to Jamaica, it has interests in mining ventures in Canada, the United States, Argentina, Chile, Côte d’Ivoire, the Dominican Republic, the Democratic Republic of Congo, Ecuador, Mali, Pakistan, Papua New Guinea, Peru, Saudi Arabia, Senegal, Tanzania, and Zambia.
