{"id":1129990,"date":"2019-07-31T13:14:04","date_gmt":"2019-07-31T18:14:04","guid":{"rendered":"https:\/\/www.mining.com\/?p=998115"},"modified":"2019-07-31T13:14:04","modified_gmt":"2019-07-31T18:14:04","slug":"barrick-to-close-lagunas-norte-mine-in-peru","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1129990","title":{"rendered":"Barrick to close Lagunas Norte mine in Peru"},"content":{"rendered":"<p>Barrick Gold, (NYSE: GOLD) (TSX: ABX) the world&#8217;s second largest producer of the precious metals, on Wednesday said it will place its Lagunas Norte mine in Peru on care and maintenance while the team assesses the sulphide resource potential. It is the <a rel=\"noreferrer noopener\" href=\"https:\/\/www.globenewswire.com\/news-release\/2019\/07\/30\/1894107\/0\/en\/Barrick-Builds-Platform-For-New-Growth-In-Latin-America.html\" >latest announcement<\/a> outlining the company&#8217;s exploration strategy in Latin America.  <\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The Toronto-based gold miner has been <a rel=\"noreferrer noopener\" aria-label=\"trying sell the Lagunas Norte mine (opens in a new tab)\" href=\"https:\/\/www.mining.com\/barrick-mulls-selling-part-of-peru-mine-bringing-partner-report\/\" >trying sell the Lagunas Norte mine<\/a> since 2017, but talks with potential buyers have been fruitless as the mine is nearing the end of its life with a <a href=\"https:\/\/www.mining.com\/web\/barrick-gold-faces-challenges-develop-latin-america-mines\/\"  rel=\"noreferrer noopener\" aria-label=\"high closure cost built into its price tag (opens in a new tab)\">high closure cost built into its price tag<\/a>.<\/p>\n<p>Following a tour of the company&#8217;s Latin American operations in January, Barrick boss Mark Bristow decided they were looking at &#8220;a new plan&#8221; for Lagunas Norte and suspended plans to sell its Peru assets. Another mine in Peru, Pierina, is also marked for closure.<\/p>\n<p>Barrick had booked a $405 million impairment charge on Lagunas Norte last year, which resulted in a $431 million net&nbsp;loss in the September quarter. Production in 2018 totaled 245,000 ounces of gold at an all-in sustaining cost of $636\/oz.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Barrick had booked a $405m impairment charge on Lagunas Norte last year, which resulted in a $431m net loss in the September quarter.<\/p>\n","protected":false},"author":88,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[2849,369,4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1129990"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/88"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1129990"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1129990\/revisions"}],"predecessor-version":[{"id":1130000,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1129990\/revisions\/1130000"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1129990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1129990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1129990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}