Northwire Canada EditionThursday, July 23, 2026
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NEV 0.040 +0.0% ITR 3.00 −1.6% ALDE 2.79 −0.7% TECK 84.18 +4.4% FVI 11.83 −2.2% SUM 1.31 −1.5% RSMX 0.115 +4.5% STW 0.105 +5.0% PAT 0.250 +0.0% CCM 0.520 +0.0% SGN 0.255 +0.0% CNC 1.49 +1.4% PHNM 0.345 +6.2% LIO 0.145 −9.4% RIO 2.66 −4.7% KG 0.160 +3.2% NEV 0.040 +0.0% ITR 3.00 −1.6% ALDE 2.79 −0.7% TECK 84.18 +4.4% FVI 11.83 −2.2% SUM 1.31 −1.5% RSMX 0.115 +4.5% STW 0.105 +5.0% PAT 0.250 +0.0% CCM 0.520 +0.0% SGN 0.255 +0.0% CNC 1.49 +1.4% PHNM 0.345 +6.2% LIO 0.145 −9.4% RIO 2.66 −4.7% KG 0.160 +3.2%
Production / Operations

Hemlo produces 143,458 oz Au in 2025

By The Northwire Desk — AI Analysis Feb 23, 2026 · 12:45 HMMC · 7.03 Hemlo Mining Corp.
HMMC · Price

Executive Summary

  • Hemlo Mining Corp. reported full-year 2025 gold production of 143,458 ounces, the highest in four years, driven by strong year-end execution despite a transitional ownership period.
  • The company is transitioning to a hybrid owner-operator mining model, partnering with Manroc Developments Inc. to enhance cost control, workforce stability, and operational continuity.
  • A comprehensive 2026 operational program is underway to ramp up production through 2028, including a $30-million U.S. investment in new mobile equipment, infrastructure upgrades, and a 130,000-metre exploration drilling program.

Key Details

  • 2025 Production: Totalled 143,458 payable ounces of gold, including 20,192 ounces in December.
  • Production Metrics: Full year 2025 included 140,448 tonnes grading 4.71 grams per tonne gold.
  • Ownership Transition: The mine was transferred to Hemlo Mining on Nov. 26, 2025, from Barrick Mining Corp. The company is adopting a "hybrid model" where Manroc Developments Inc. continues Alimak mining support while Hemlo moves toward direct operational control.
  • 2026 Guidance: Production and cost guidance for 2026 is expected to be released in Q3.
  • Infrastructure & Capacity: The mine currently operates at approximately 60% of its 7,100-tonne-per-day hoisting capacity and 10,000-tonne-per-day milling capacity.
  • Capital Investment: Over $30-million (U.S.) allocated for 21 new pieces of mobile equipment in 2026, including scooptrams, haul trucks, development jumbos, and bolters.
  • Operational Initiatives:
    • Material handling improvements to increase haulage efficiency.
    • Ventilation upgrades to support higher mining rates and deeper development.
    • Enhanced ground support standards.
    • Optimized mine sequencing to improve dilution and grade control.
    • Mine and mill recovery initiatives (2025 average recovery was 94%).
  • 2026 Underground Opportunities:
    • Changes in mining method from underhand to overhand in select zones.
    • Increased lateral development advances using jumbos and automation.
    • New stopes in B-Zone to increase infrastructure utilization.
    • Development of new ventilation systems for C-Zone.
    • Rehabilitation of development drifts in past-producing areas.
  • Process Plant Upgrades: Redesign of SAG mill liners and replacement of on-stream analyzers; process optimization for liberation, carbon management, and leach efficiency.
  • Exploration: A 130,000-metre exploration drilling program is ongoing to support production growth and extend mine life.
  • Future Estimates: An updated NI 43-101 mineral resource and reserves estimate is planned for the second half of 2027.
  • Management Team: New appointments include Eric Tremblay (COO), Raphael Dutaut (VP Exploration), Mike Tsafaras (VP Engineering and Projects), Garett Macdonald (VP Operations), Perry Blanchard (VP Sustainability), and Dennis Bigras (Deputy General Manager).

Notable Quotes

  • "Two thousand twenty-six will be a pivotal year for Hemlo as we execute a disciplined plan to unlock the mine's full potential. Our foremost priority is health, safety and environmental performance, alongside strong team integration across the operation. Through a hybrid transition to an owner-operator model -- with Manroc continuing Alimak Mining -- we are strengthening operational control and cost performance." — Jason Kosec, President and CEO
Read the original news release →

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