- Newcrest Mining (NCM) has restarted operations at its Brucejack Mine in British Columbia
- The Melbourne, Australia-based mineral exploration firm halted operations at the mine on Oct. 24 following a “critical incident”
- Operations are now resuming pursuant to a safety-first restart plan, the company said on Wednesday
- The mine’s production, cost, and capital expenditure guidance for the 2023 fiscal year remains unchanged
- Newcrest Mining is down 0.92 per cent, trading at $17.21 at 10:47 am ET
Newcrest Mining (NCM) has restarted operations at its Brucejack Mine in British Columbia.
The Melbourne, Australia-based mineral exploration firm halted operations at the mine on Oct. 24 following a “critical incident.”
Operations are now resuming pursuant to a safety-first restart plan, the company said on Wednesday.
The mine’s production, cost, and capital expenditure guidance for the 2023 fiscal year remain unchanged.
“The devastating incident at Brucejack is a stark reminder that safety must always be our number one priority as a business. During the suspension of operations, we reviewed all activities at Brucejack to identify major hazards and corresponding critical controls to prevent fatalities and life-changing injuries. We also established additional control verification mechanisms to ensure those critical controls are effective and working,” said Newcrest Managing Director and CEO Sandeep Biswas.
Newcrest acquired the Brucejack Mine in March.
The Tier 1 large-scale, long-life, low-cost mine is one of the highest-grade operating gold mines in the world.
The mining method at Brucejack is long-hole stoping using a combination of longitudinal and transverse mining, depending on zone width and orientation. The ore is crushed underground and conveyed to surface, where the fully-enclosed mill produces gold-silver dore bars and flotation concentrate.
Newcrest Mining is down 0.92 per cent, trading at $17.21 at 10:47 am ET.