PRECIOUS METALS

Barrick reports Hemlo fatality

BMO analyst expects operations to restart reasonably quickly

Staff reporter
Barrick Gold's Hemlo mine in Ontario, Canada

Barrick Gold's Hemlo mine in Ontario, Canada

The gold miner said the incident occurred at approximately 9:30pm Canadian Eastern Daylight Time on July 14.

"Perenti and Barrick extend their deepest sympathies to the family, friends and colleagues of the employee," Barrick said in a statement.

An investigation is underway, and Barrick said it was working closely with the Ministry of Labour and the Ontario police.

BMO analyst Jackie Przybylowski said she had not adjusted her production estimates to reflect any outage or impact because she expected the mine to be restarted reasonably quickly.

"Based on the initial Barrick press release it does not appear that equipment or infrastructure has been damaged, which likely means the outage will be relatively minimal and a restart will be relatively quick (i.e., within days, not months)," she said in a note.

Members of the International Council on Mining and Metals - of which Barrick is one - recorded 44 fatalities in 2020 according to the group's annual safety performance report, released in June.

"As an industry we must do better," ICMM CEO Rohitesh Dhawan said at the time.

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