Barrick cuts U.S jobs

The world’s largest gold miner, Barrick Gold has sacked 55 workers in Utah and Nevada off the back of falling gold prices and struggling stock.

The employees, who provide support functions including human resources and administration, are being given severance offers, Associated Press reports.

With the company’s share price is at a 21-year low, earlier this month Barrick cut 60 workers from its Western Australian operations and warned more positions are likely to go in coming months.

In April Australian Mining reported the company is rumoured to be looking at selling off three of its WA gold mines namely its Yilgarn South assets, which comprise of the Darlot, Granny Smith, and Lawlers mines.

Australia wide Barrick employs about 2500 people and is also the operator of Cowal mine in NSW, and under a joint venture agreement with Newmont Mining it runs to Kalgoorlie Superpit which is also under cost review.

Barrick has not confirmed exact job loss figures as potential cost savings were still being reviewed but affected workers are likely to be advised over the next few weeks.

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