Which US presidential candidate does gold prefer?
Gold loves chaos and should be hitting new highs, especially with inflation coming down and with it, two rate cuts likely before year’s end.
Barrick Gold (TSX: ABX) (NYSE: GOLD) has resumed operations at its Hemlo gold mine in Ontario, Canada, after a five-day halt that followed the death of a contract worker on site last week.
The victim was a 48-year-old man working for Barminco, a subsidiary of Perenti, which provides underground services at the mine.
“Underground works have focused on maintenance activities and re-inspection of work areas for potential hazards,” spokeswoman Kathy du Plessis said in a statement.
“The underground will progressively return to full production over the coming week,” she added.
Barrick is in the midst of executing a project to extend Hemlo mine’s life and transition it to a modernized tier two asset as a purely underground operation.
The company is also exploring near Hemlo through an earn-in agreement inked last year with MetalCorp (TSXV: MTC).
Hemlo, about 350 km (217.5 miles) east of Thunder Bay, produced 223,000 ounces of gold last year.
