Jobs go at Barrick Gold’s Lake Cowal mine

Five workers have been made redundant at Barrick Gold’s Lake Cowal Mine with the company blaming the decision on weak gold prices and increasing operating costs.

Barrick said the affected workers would receive a severance package, with the company to also help the five find work elsewhere.

Despite the cuts, Barrick say they forging ahead with expansion plans at Cowal that will see the mine life extended by four years, Prime7 News reported.

The expansion would see a cutback undertaken of the existing mine pit, deepening and widening it within the existing mining lease area and opening up access to ore buried underground.

Gold miners are facing increasingly tougher times as the price for the precious metal remains stubbornly low.

In June Barrick laid off 22 workers from its Kanowna operation east of Kalgoorlie-Boulder, notified 35 staff at its global greenfields exploration unit that their positions would be moved from Perth to Canada, and retrenched 32 jobs from its Perth head office.

At the time the company warned its Australian workforce to brace itself for extensive job losses over the coming months.

Barrick employs about 2500 people Australia-wide.

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