Barrick Gold Corp. (NYSE:ABX) announced it has received approval from American land regulators for the environmental assessment report concerning its low-cost Cortez Hills mine in Nevada, removing operational restrictions on the project.
Cortez Hills, according the largest gold miner in the world, has been operational, but under a tailored injunction, which included certain restrictions on ore transportation, by the U.S. District Court since April 2010.
Projected output at Cortez mine is production of 1.30-1.45 million ounces of gold in 2011 at a cost of $235-$265 an ounce.
Barrick closed Wednesday at $48.38, falling $0.85, or 1.73 percent.
Showing posts with label Barrick Cortez. Show all posts
Showing posts with label Barrick Cortez. Show all posts
Thursday, March 17, 2011
Wednesday, April 14, 2010
Barrick Gold (TSE:ABX) Given Okay to Continue Mining Cortez Hills
Barrick Gold (TSE:ABX) was encouraged by the decision by a U.S. court to allow the gold mining company to move forward at the Nevada Cortez Hills mine.
People opposing Barrick had asked for a complete work stoppage while the U.S. Bureau of Land Management studied some of the concerns laid out by the group.
While there were some limitations imposed on Barrick, it was good to see a judge which understood the implications if the mine was closed and some of the dubious motives of those attempting to close it, who seemed more obsessed with that than other issues.
Consequently, Barrick won't be able to move ore off the site and will be limited as to how much water will be pumped from the mine while the study is being conducted.
In 2010, Barrick estimates the Cortez mine will product somewhere between 1.08 to 1.12 million ounces of gold. The mine employs over 1,000 people.
People opposing Barrick had asked for a complete work stoppage while the U.S. Bureau of Land Management studied some of the concerns laid out by the group.
While there were some limitations imposed on Barrick, it was good to see a judge which understood the implications if the mine was closed and some of the dubious motives of those attempting to close it, who seemed more obsessed with that than other issues.
Consequently, Barrick won't be able to move ore off the site and will be limited as to how much water will be pumped from the mine while the study is being conducted.
In 2010, Barrick estimates the Cortez mine will product somewhere between 1.08 to 1.12 million ounces of gold. The mine employs over 1,000 people.
Monday, April 5, 2010
Barrick Gold (TSE:APX) Cortez Hill Mining
Barrick Gold
Barrick Gold (TSE:APX) is asking the U.S. District Court to hear oral arguments concerning being allowed to continue mining at the Cortez Hill project while awaiting the reviews of the U.S. Bureau of Land Management on potential environmental impact of mining in the area.
The 9th Circuit Court of Appeals ordered more analysis of the effects on the environment, and shut down the mining operations at the time.
Barrick Cortez, a subsidiary of Barrick Gold, is asking for permission to mine on a limited basis while awaiting the outcome.
Barrick Gold
Barrick Gold (TSE:APX) is asking the U.S. District Court to hear oral arguments concerning being allowed to continue mining at the Cortez Hill project while awaiting the reviews of the U.S. Bureau of Land Management on potential environmental impact of mining in the area.
The 9th Circuit Court of Appeals ordered more analysis of the effects on the environment, and shut down the mining operations at the time.
Barrick Cortez, a subsidiary of Barrick Gold, is asking for permission to mine on a limited basis while awaiting the outcome.
Barrick Gold
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