GOLD MINING: Barrick shuts one pit at North Mara

TANZANIA — Barrick Gold of Toronto is reportedly shutting one pit at its North Mara gold mine due to high operating costs and production interruptions caused by theft and vandalism. Closing one pit cuts the workforce by 19%. Barrick Tanzania said that 216 employees accepted a voluntary severance package.

The North Mara operation is expected to produce between 225,000 to 245,000 oz of gold this year.

Visit the Barrick website at www.Barrick.com.