Hemlo Mining Corp. (beforehand Carcetti Capital Corp.) lately closed the acquisition of the Hemlo Gold Mine in Ontario, Canada from Barrick Mining Corp. for combination consideration of roughly USD1.1 billion. The Hemlo Gold Mine is positioned 35 kilometers east of the city of Marathon, Ontario and has produced roughly 25 million ounces of gold from each underground and open pit operations since manufacturing started in 1985. The Firm is seeking to set up itself as a number one Canadian mid-tier growth-focused gold producer, with a direct deal with maximizing the worth of the Hemlo Gold Mine’s present infrastructure by means of a fit-for-purpose working method, whereas unlocking new alternatives by means of an aggressive brownfields exploration.
