Barrick Gold

Posted: Tue, 10 Mar 2009

[miningmx.com] -- The Tanzanian arm of Canada's Barrick Gold Corp has shed 200 jobs and shut one pit at its North Mara gold mine due to unexpectedly high operating costs, Reuters reported on Monday.

The mine has in the past faced disruptions from theft and vandalism, the firm said. Late last year, some 200 people invaded one of three pits in the mine and destroyed equipment worth $7m, causing a temporary closure of the pit.

"The operation has experienced higher than expected operating costs and has been adversely impacted by frequent operational disruptions due to theft and vandalism of company property and equipment," Barrick Tanzania said in a statement