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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

Miners suffer as gold price slides

Posted on 01 July 2013

Plunging gold prices have forced miners to change their plans, with Oceana Gold moving to mothball an open pit on the West Coast while the world’s biggest miner, Barrick, has taken a multi-billion dollar hit on one of its projects and axed 30 per cent of its corporate staff.
In Waihi, Newmont says it is watching the gold price but is pushing ahead with seeking final approval for its big new underground project in the town. Its Denver and Perth offices had laid off staff, and while it had not shed any of its employees at Waihi, some contractors had lost jobs as projects came to an end………………………………….Full Article: Source


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