Gold mid-tiers’ Q3 2024 fundamentals
All-time-high gold prices combined with relatively-contained costs catapulted unit earnings to another epic record.
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.
