Evolution Mining climbs to 4-year high on upbeat Q2 production, bullion prices
The company reported a quarterly group gold production of 194,793 ounces, compared with 161,073 ounces a year earlier.
Barrick Gold (NYSE:ABX) is shedding workers in Utah and Nevada due to falling precious metal prices.
According to a report by the Associated Press, 55 workers in Utah and Nevada are being given severance offers as they are being asked to leave. Most of the workers provide support functions such as human resources, administration and purchasing.
About 40 effected workers are in Nevada and the rest are in Salt Lake City.
Gold’s collapse has hit the world’s largest miner hard. Barrick’s stock is at a 21-year low.
Barrick Gold isn’t the only company laying off workers. Newmont Mining, the largest gold miner in the US, recently reduced its workforce in its home state by one-third.
Image of workers at a silver mine Philipp Steidl
