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Barrick’s Unlock the Value program offers scientists and inventors an opportunity to propose and develop a method to improve silver recovery. A brief summary of the program is shown below and available for public viewing. For full details, register as a site user and read the Submission Agreement and Development Services Agreement.

The process consists of four phases:

Phase 1: Preliminary Submission and Selection of Proposals
Phase 2: Full Proposal and Definition of Test Program
Phase 3: Collaborative Development and Proof-of-Concept Testing
Phase 4: Commercial Scale Economic Evaluation


Phase 1: Preliminary Submission and Selection of Proposals

Interested research teams should review all the information and data provided on this website about the challenge of silver recovery at the Veladero mine.

The term "Sterling Silver" refers to silver of .925 fineness (92.5% silver; 7.5% copper). The term "Commercial Silver" refers to silver with a fineness of .999 (99.9%) or higher, often sold and shipped in bars of 1000 oz.

A summary of the program is available for public viewing.

To view more detailed information on ore characterization, mineral processing, and extractive metallurgical studies, you must first register as a participant.

Registered participants can download the following information from the Documents area:

  • Veladero Silver Recovery: Details of ore characterization, mineral processing and extractive metallurgical studies
  • Glossary of mining terms
  • Proposal submission template and guidelines
  • Proposal Evaluation Matrix
  • Submission Agreement: required of all participants choosing to submit a proposal
  • Development Services Agreement: required of all teams selected for Phase 3 and 4 participation

A panel of scientific experts will evaluate proposals using the following criteria:

  • Potential of the technique or technology to improve silver recovery economically
  • Ability to be introduced and integrated into Veladero mine operations
  • Ability to demonstrate lack of harm to the environment and to health and safety

All proposals must be submitted in English using this website. In addition, you may submit a copy in a second language.


Phase 2: Proposal and Definition of Test Program

If your Phase 1 Proposal is selected for advancement, you will be invited to submit a Phase 2 Proposal. Prior to submission, there will be an opportunity for consultations between Barrick and you or your team to ensure the Phase 2 Proposal contains a viable plan for developing and proving the concepts. Phase 2 Proposals must contain:

  • Details about the team member(s) and their qualifications
  • Additional technical information or supporting documentation
  • Methodology and estimates of time and cost to develop and test the technology at a suitable scale

Phase 2 Proposals will be evaluated against the same criteria employed in Phase 1. The test program presented will be reviewed, and may be further developed by Barrick and the submitting team. Selected Proposals will advance to Phase 3.


Phase 3: Collaborative Proof of Concept Testing

In Phase 3, Barrick and the team will enter into a Development Services Agreement. In recognition of the work involved in submitting a proposal that advances to this stage, and upon execution of the Development Services Agreement, Barrick will make a payment of US$25,000 to each team. The Development Services Agreement will define:

  • The scope of testing and development activities that shall be funded by Barrick
  • The technical advisory/consulting role of the participating team
  • Management of Intellectual Property Rights

The testing and development phase may span several years and may investigate the performance of the technology at various operational scales such as laboratory, unit, pilot, and integrated pilot. All development and proof-of-concept testing will be managed and supervised by Barrick’s Research and Development Team. Barrick, based on the process performance information gathered during Phase 3, will determine which technological solutions are selected for Commercial Scale Economic Evaluation during Phase 4 of the program.


Silver is still used in some circulating coins but it is primarily used now in bullion, commemorative and proof coins. Silver bullion coins include the Mexican Libertad, the U.S. Silver Eagle, The Royal Canadian Mint's Silver Maple Leaf, and the Australian Kookabura. Bullion coins sell for a premium over their bullion value, not their face value.

Phase 4: Commercial Scale Economic Evaluation

A total payment of $US10 million will be made to the team or teams whose combined technologies are successfully implemented at the Veladero mine and demonstrate economical silver recovery. Only those technologies identified during Barrick’s Unlock the Value program qualify for this payment.


Important Notice to all Participants

All submissions, whether they take traditional approaches or investigate new unique concepts, must adhere to Barrick’s commitments in the areas of Safety and Health, Environment and Social Responsibility.

Registered participants should take the time to carefully review all the technical and legal content in the Documents area. Full details of program terms and conditions can be found in the Submission Agreement and the Development Services Agreement. If you have questions about the program or the data provided, post them using the Question Forum available to registered users of the website. All communication about this program must be through this website; contacting Barrick offices directly is not permitted.