GOLD: Barrick’s new strategy for Hemlo

[caption id="attachment_1003731515" align="aligncenter" width="413"] The Hemlo mine has produced more than 21 million oz. of gold in its 34 years of operation. (Image: Barrick Gold)[/caption] ONTARIO – Barrick Gold of Toronto has announced plans to modernize and refocus its efforts at the Hemlo gold mine 350 km east of Thunder Bay. The goal is to upgrade the operation to a Barrick Tier 2 asset and extend its life. Barrick has introduced several programs to boost performance, and the next phase will be to mothball the open pit mine. Mining will be done underground by a contractor. COO for North America Catherine Raw said that Hemlo will become a smaller – and more profitable – business. A longer life for the mine  will create longer term employment and benefit sharing. Some job losses are inevitable. “Because of the move to contract mining and the introduction of new technology, we are inviting the majority of employees working underground to participate in a voluntary separation program,” Raw added. Learn more about the Hemlo gold mine at www.Barrick.com.