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Northern Star takes control of Barrick’s Kalgoorlie mines

Northern Star takes control of Barrick’s Kalgoorlie mines

Photo by Duane Daws

3rd March 2014

By: Leandi Kolver

Creamer Media Deputy Editor

  

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JOHANNESBURG (miningweekly.com) – ASX-listed Northern Star Resources on Monday announced that it had taken control of the Kalgoorlie operations that it had bought from Barrick Gold for $75-million.

The acquisition comprised the East Kundana joint venture (EKJV) and Kanowna Bella gold mines, and brought Northern Star’s operating business units to four, with a production profile of more than 350 000 oz/y.

The company also stated that as a result of an earthquake in the Kalgoorlie region on February 26, some damage had been incurred at the Raleigh underground mine, which was part of the EKJV in which Northern Star now held 51%.

“Production at the Raleigh mine will be potentially disrupted for six to eight weeks to rectify the situation, which may delay 3 000 oz to 5 000 oz of gold production this year,” Northern Star reported.

However, production at the Rubicon and Hornet mines, which provided the majority of the EKJV’s gold production, was unaffected.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

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