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Jun 15, 2017

Barrick mine restrictions reportedly lifted

Workers walk at Barrick Gold Corp's Veladero gold mine in Argentina's San Juan province

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A judge told a radio station in the Argentine province of San Juan that he had lifted a suspension on leaching operations at Barrick Gold Corp's <ABX.TO> Veladero mine on Thursday.

Judge Pablo Oritja said on Radio Light F.M. that he understood Barrick had finished all required work following its third cyanide spill in 18 months and had ordered an end to restrictions put in place in late March.

A Barrick spokesman in Argentina said the company had not been notified formally.

Regulators suspended the addition of cyanide to Veladero's leach pad processing operation and told Barrick to overhaul environmental practices and operations at the mine following a March 28 spill when a pipe carrying cyanide solution failed.



Barrick, the world's largest gold producer, slashed its forecast for Veladero output and hiked its estimated production costs in April.

It also lowered its forecast for total 2017 gold production in the first quarter, largely reflecting the sale of a 50-percent stake in Veladero to Shandong Gold Mining Co Ltd <600547.SS> for $960 million.

Veladero is Argentina's largest gold mine and one of Barrick's five core mines.