Goldcorp has announced it will keep its underground Dome Mine in Timmins open and operational.
In a July 20 statement, Porcupine Gold Mines’ (PGM) general manager, Brendan Zuidema, cited the rise in gold prices among the reasons behind the company’s decision.
“In response to the significant increase in the gold price since the start of 2016, improvements in mining costs, and new opportunities to increase PGM’s overall net asset value (NAV), the management team at PGM is pleased to announce that the Dome Mine will remain open for the remainder of 2016 and beyond,” Zuidema writes.
In January, the company announced it would be closing Dome, which has operated for more than 100 years, on and off, since its establishment in 1909.
At the time, the company said 115 employees and 76 contractors will be affected by the closure. The mine was to cease all operations by July 31.
The company had said it was not economically feasible to keep the mine running, as operating costs were rising and it was becoming harder for the mine to become profitable.
Zuidema said in the July 20 statement that the transition process has been “challenging,” and acknowledged PGM employees for their patience and their work in continuing safe production practices at the mine.
“This welcome news should resolve a lot of uncertainty going forward for our employees and will also be welcome news in the community of Timmins and surrounding areas as we continue to be a strong partner and employer in the city with the heart of gold,” Zuidema added.
Dome Mine is one of the “big three” original mines in Timmins — the others being Hollinger and McIntyre — and the only one still operational. It is the country’s oldest and longest producing mine, and one of the most prolific.
