Nevada
Northern Nevada ‘far from being mature district’ – Bristow
According to the Barrick executive, its Fourmile mine is expected to more than triple its current mineral resource of 0.48 million ounces at 10.04 g/t indicated in addition to 2.7 million ounces at 10.1g/t inferred.
Bristow said operational highlights of the past year included a record production by the post-merger Cortez and the continuing turnaround at Turquoise Ridge.
“The most significant development, however, was the completion of the Goldrush permitting process at the end of 2023. This enabled Cortez to accelerate the development of a key project which will already make a significant production contribution this year,” he added.
The underground mine is expected to start ramping up production in 2024 after the commissioning of the initial project infrastructure and is forecast to produce 130,000 ounces in 2024 and grow to approximately 400,000 ounces per annum by 2028.
Barrick and NGM have invested more than $370 million in the project.
“The complex now boasts a production growth profile that goes well beyond 10 years as the geologists step up the replacement of the ounces depleted by mining,” Bristow said.
NGM completed the commissioning of the first 100 megawatt phase of its solar power project in the last quarter of 2023, with the second 100 megawatt scheduled to come on stream in the second half of this year.
Gold production decline in 2023
Last year, Barrick’s gold output hit its lowest level since 2000 following a series of setbacks across its operations.
Maintenance and repair work at its Nevada mines, an expansion at Pueblo Viejo in the Dominican Republic and a prolonged shutdown at a major asset in Papua New Guinea all contributed to a 23-year low in total bullion ounces for the world’s second-largest gold miner.
Investors will be seeking insight into this year’s production outlook when the Canadian metals producer reports fourth-quarter earnings on Wednesday.
(With files from Bloomberg)
Read More: Barrick to spend $136 million on failed Pascua-Lama project
Nevada
Heirloom by Ovation opens affordable senior housing community
Ovation Development Corp. and its affiliate, Heirloom by Ovation, a Las Vegas-based developer of multifamily housing and one of Nevada’s largest private developers of affordable senior housing, hosted a ribbon-cutting and welcome-home ceremony for residents of its newest senior affordable housing community, Heirloom at Rome, at 4850 W. Rome Blvd. in the northwest valley.
The demand for senior affordable housing is reflected in Heirloom at Rome already having more than 182 occupied units, just months after it opened.
The $78 million Heirloom at Rome community, which was funded in part by Clark County Community Housing Funds and Nevada Housing Division’s Home Means Nevada Initiative, brings 276 new affordable housing units to market, including 38 tiny homes. The community’s tiny homes offer 400 square feet of living space, while apartments that range from 664 square feet to 891 square feet offer from one to two bedrooms.
Heirloom at Rome sits on a nearly 9.5-acre site within three separate buildings totaling 243,100 square feet. Of its 276 units, 180 are available to seniors making less than 49 percent of Area Median Income, and 96 units are available to seniors making less than 59 percent of AMI.
The community sits on land once owned by the federal government and granted to the city of Las Vegas for purposes of affordable housing. Ovation was awarded the project through a competitive request for proposal process, furthering the city’s prioritization of affordable housing construction.
On-site amenities include a fitness room, movement studio, screening room, game lounge, great room, business center, wellness room and a one-story clubhouse by the tiny home village. Outdoor amenities include a community garden, pet park, extensive xeriscape landscaping, picnic tables and carport parking for residents.
Heirloom at Rome was designed and built to achieve LEED Gold certification by the U.S. Green Building Council and has successfully received its certification. The community features high-efficiency heating and cooling equipment including Energy Star appliances, low-E vinyl thermal pane windows, and high R-value wall and attic insulation. Additional sustainable building practices include the use of low- or no-VOC paints, adhesives and formaldehyde-free particleboard. Water conservation measures will include low-flow fixtures and drought-tolerant landscaping.
As one of Nevada’s largest and leading apartment developers of both market-rate and affordable housing for low-income seniors and working families, Ovation ensures its affordable housing communities maintain the exceptional quality associated with its market-rate projects.
Through its partnership with nonprofit Coordinated Living of Southern Nevada, Ovation provides residents of its affordable housing properties with life-enhancing wraparound services and recreational amenities that create a rich social infrastructure and high quality of life. This includes transportation assistance to medical appointments and shopping, health and wellness programs, food assistance as well as social outings and events.
According to Alan Molasky, chairman and founder of Ovation, “collaboration is key to solving for challenging issues like affordable housing, and we couldn’t do it without critical support from government and agency partners who share our passion,” he said.
“We have long believed that everyone, regardless of income, deserves a quality home that helps to strengthen individuals, families and community. Providing a beautiful, dignified and comfortable place to live is key to ensuring seniors, particularly those on low or fixed incomes, can continue to thrive in a clean and beautiful environment during their golden years.”
To date, Ovation has completed 18 income- and rent-restricted communities totaling more than 2,795 units. The company will complete five more multifamily affordable communities with more than 1,300 units in Southern Nevada by 2028, providing much needed relief for low-income seniors, individuals and families.
Coming soon to the Heirloom by Ovation portfolio is Heirloom at Torrey Pines, at 6540 W. Arby Ave.
For leasing and qualifying information on Heirloom at Rome and other Heirloom by Ovation communities, visit HeirloomByOvation.com.
Ovation Development Corp. is a Las Vegas-based development company founded by Alan Molasky, a prolific developer of multifamily, resort-style housing in Southern Nevada for 40-plus years. The largest private multifamily developer in the Las Vegas Valley, Ovation has built nearly 10,000 units. In addition to luxury multifamily communities, Ovation is committed to the development of a portfolio of affordable housing for low-income seniors, known as Heirloom by Ovation, based on the belief that quality homes are foundational to strengthening individuals, families and community. Ovation and its affiliates employ more than 300 individuals representing all facets of design, construction and property management. For information, visit ovationco.com.
Nevada
Nevada Immigrant Coalition rallies in downtown Las Vegas on May Day to demand worker protections
LAS VEGAS (KTNV) — The Nevada Immigrant Coalition held a march and rally in downtown Las Vegas on May Day, joining similar demonstrations across the country to demand better treatment for immigrant families and workers.
The event coincided with First Friday, drawing attention to the economic pressures facing local businesses and workers as costs continue to rise.
Noe’ Orozco, a representative with the Nevada Immigrant Coalition, said the group is focused on elevating people over corporations.
WATCH | Nevada Immigrant Coalition rallies on May Day to demand worker protections
Nevada Immigrant Coalition rallies on May Day to demand worker protections
“We’re trying to put people above corporations, and we one way. You can do that is definitely by supporting the local businesses, because a lot of the local businesses, they, they sustain themselves,” Orozco said.
Many local business owners and workers say they rely on the foot traffic that First Friday generates each month.
“It’s our one night a month that we get walking traffic as if we’re on Fremont Street or on the Strip,” said a business owner at First Friday.
KTNV
Workers also described the financial strain of the current economy.
“It’s very difficult to be living in the economy now without having two jobs,” said another business owner at First Friday.
The coalition said it is also responding to a recent surge in immigration enforcement activity across Nevada, which it says is negatively affecting local families.
KTNV
“Since the start of last year, we’ve seen a lot more of those overlapping conversations happening. And so, as I mentioned, right, highlighting the workers’ rights and a lot of those workers, a lot of workers that we engage with our migrant or immigrant workers, immigrant families, and so regardless of what industry you’re looking at, there is going to be an immigrant household that is being impacted,” Orozco said.
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Nevada
5.2 magnitude earthquake in Nevada reportedly felt as far as Sacramento
An early morning earthquake in Nevada on Friday was felt as far west as the Sacramento Valley.
According to the U.S. Geological Survey, the quake struck around 1:17 a.m. about 50 miles east of Carson City. Shaking was reported across the Reno, Carson City and South Lake Tahoe areas.
People also reported feeling shaking along the Sierra Nevada foothills and into the valley, including in Roseville and Sacramento.
No damage has been reported.
The quake had a preliminary magnitude of 5.2. A magnitude 4.3 foreshock appears to have struck about two minutes before the main quake. Several aftershocks have followed, none larger than magnitude 2.7.
Nevada also saw a magnitude 5.7 earthquake centered in the same general area on April 13. Like Friday’s quake, that earthquake was felt in the Sacramento area.
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