Hemlo Mining

Hemlo Mining (previously Carcetti Capital) recently closed the acquisition of the Hemlo gold mine in Ontario, Canada, from Barrick Mining for aggregate consideration of approximately US$1.1 billion. The Hemlo gold mine is located 35 kilometers east of the town of Marathon, Ontario, and has produced approximately 25 million ounces of gold from both underground and open-pit operations since production began in 1985. The company is looking to establish itself as a leading Canadian mid-tier growth-focused gold producer, with an immediate focus on maximizing the value of the Hemlo gold mine's existing infrastructure through a fit-for-purpose operating approach, while unlocking new opportunities through an aggressive brownfields exploration.