Henty mine to close

The Henty Gold Mine.THE Henty Gold Mine will close in late 2015.

Struggling owner Unity Mining Limited announced the plan to the ASX today.

The West Coast operation has been on a cost-cutting drive in recent times, with difficulties including a slump in gold prices.

Following the outcomes of a review, Unity said, it had decided the best outcome for shareholders would be to focus on maximising cash generation from the mine’s remaining “higher confidence” and higher margin reserves.

It expected to “transition” the mine to care and maintenance in late 2015.

That would keep it largely in a mining-ready state.

Unity said it wanted to continue or re-start mining if additional, sustainable reserves were found.

Exploration efforts would continue, near the mine and along strike.

“Any significant discoveries within the region may lead to a re-evaluation of the Henty mine’s future,” Unity CEO Andrew McIlwain said.

This story Administrator ready to work first appeared on Nanjing Night Net.

Comments are closed.