Barrick’s quarterly gold and copper output edges higher
Barrick Gold's second-quarter gold output edged up by almost 0.9% from the previous three months.
The Santa Cruz Chamber of Mining Suppliers and Services (CAPROMISA) issued a communiqué expressing its members’ concern over the month-long closure of the Cerro Negro mine, operated by Oroplata S.A., a subsidiary of Newmont (NYSE: NEM).
The gold mine, located in the southern Argentinian province of Santa Cruz, was shut down on April 10, 2024, following the death of two workers who were part of the company’s technical services team.
The investigation is ongoing but authorities nor Newmont have provided further details.
In its media statement, CAPROMISA expressed its condolences for the passing of Rosana Ledesma and Daniel Ochoa, while also noting that the organization supports the continued operation of Cerro Negro.
“We acknowledge the mine’s commitment to industrial safety and the wellbeing of its employees, which are the same guidelines followed by associated companies and all the staff that work there,” the release reads. “Thus, we urge the mining company and other relevant parties to speed up administrative processes so that the Cerro Negro mine can reopen as soon as possible.”
According to the Chamber, an indefinite stoppage threatens the local economy by impacting the sources of income of mine workers and small and medium-sized companies that service the gold operation.
CAPROMISA said it is willing to collaborate with relevant parties to reach a prompt solution to the situation while observing the necessary measures to keep workers safe.
Cerro Negro is one of Newmont’s key mines in South America, generating over $500 million in exports per year. It is undergoing a $540-million expansion project that would extend its life until 2034, with total production expected to reach over 350,000 ounces from 2024 onwards.
