New Gold is delaying the start of work on its planned open pit gold mine north of Barwick by six months.
The company says that’ll allow it time to generate more money and fund the project internally.
Project director Paul Hosford says New Gold still retains flexibility on the schedule, to allow moving portions of the project forward, should market or economic conditions permit it. He also says some equipment has already been ordered and will be erected later this year, with some limited operations expected by the end of 2015.
Hosford adds they’re anticipating the workforce to peak at about 450 people.
