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AVX 0.005 −nan% AII 19.91 −1.0% GWM 0.480 +0.0% GEN 0.065 +0.0% NIO 0.135 −3.6% III 7.22 −2.8% NCAU 0.295 −3.3% 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% AVX 0.005 −nan% AII 19.91 −1.0% GWM 0.480 +0.0% GEN 0.065 +0.0% NIO 0.135 −3.6% III 7.22 −2.8% NCAU 0.295 −3.3% 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%
Production / Operations

Hemlo Mining Corp. Announces Strong 2025 Gold Production of 143,458 Ounces (Including 20,192 Ounces in December) and Provides Operational Update

By The Northwire Desk — AI Analysis Feb 23, 2026 · 06:30 HMMC · 7.03 Hemlo Mining Corp.
HMMC · Price

Executive Summary

  • Hemlo Mining Corp. reported record 2025 gold production of 143,458 payable ounces, including a strong December finish of 20,192 ounces.
  • The company is executing a hybrid owner‑operator transition with Manroc Developments Inc., aimed at improving cost control, workforce stability and long‑term value creation.
  • An Action Plan targeting infrastructure upgrades, equipment investments (US$30 M for 21 new mobile units), ventilation improvements, and mine sequencing is underway to drive a production ramp‑up through 2026‑2028; 2026 guidance will be released in Q3 2026.

Key Details

  • 2025 Production: 143,458 payable ounces (140,448 t at 4.71 g/t Au for December’s 20,192 ounces). Highest output from the Hemlo camp in four years and met prior guidance.
  • Owner‑Operator Hybrid Model: Manroc continues Alimak mining support while Hemlo assumes core mining activities; expected to deliver annual operating cost savings and greater operational flexibility.
  • Infrastructure & Efficiency Initiatives:
  • Material handling upgrades to boost haulage efficiency.
  • Ventilation system enhancements for deeper development and higher mining rates.
  • Ground‑support standard improvements for safety and reduced dilution.
  • Optimized mine sequencing to improve grade control and production stability.
  • Mine‑and‑mill recovery projects targeting higher gold recovery (2025 average 94%).
  • Capital Investment: Over US$30 million allocated for 21 new pieces of mobile equipment (scooptrams, haul trucks, development jumbos, bolters, service equipment) to be delivered throughout 2026. Additional fleet expansion planned for 2027.
  • Future Guidance: Formal 2026 production and cost guidance slated for Q3 2026; updated NI‑43‑101 resource and reserve estimate expected H2 2027.
  • Leadership Team for Transition: Eric Tremblay (COO), Raphael Dutaut (VP Exploration), Mike Tsafaras (VP Engineering & Projects), Garett Macdonald (VP Operations/GM), Perry Blanchard (VP Sustainability), Dennis Bigras (Deputy GM).
  • Health, Safety & Environment Focus: Independent HSE assessment underway; continued implementation of the Mining Association of Canada’s Towards Sustainable Mining (TSM) standard; permitting work for tailings and closure plans ongoing.
  • Workforce Composition: Approximately 70 % of contractor staff sourced locally; emphasis on training/apprenticeship programs to build a sustainable skilled labor pool.

Notable Quotes

“2026 will be a pivotal year for Hemlo as we execute a disciplined plan to unlock the mine’s full potential… Targeted initiatives in material handling, ventilation, ground support, mine sequencing, and mine and mill recovery are designed to increase throughput and margins…” – Jason Kosec, President & CEO

All forward‑looking statements reflect management’s current expectations and involve risks that could cause actual results to differ materially.

Read the original news release →

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