NEW GOLD ANNOUNCES OPERATIONS AT THE RAINY RIVER MINE HAVE RESUMED

Rhea-AI Summary

New Gold Inc. (TSX: NGD) (NYSE American: NGD) has announced the resumption of operations at its Rainy River Mine in northwestern Ontario. The mine resumed operations during the day shift on Saturday, July 27th, 2024, following a brief suspension due to an employee fatality reported on July 24th. The company confirmed that no other equipment or site infrastructure was impacted by the incident.

New Gold is actively supporting authorities with their investigation into the tragic event. The company emphasized that the health, safety, and wellbeing of its employees remain its top priority. Management expressed their continued thoughts for the family, friends, and colleagues affected by this unfortunate incident.

Positive

• Operations at Rainy River Mine resumed quickly, minimizing production disruption
• No additional equipment or infrastructure damage reported, limiting financial impact

Negative

• Employee fatality may lead to increased scrutiny and potential regulatory consequences
• Ongoing investigation could result in temporary operational adjustments or safety measures

News Market Reaction

+2.97%

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+2.97% News Effect

On the day this news was published, NGD gained 2.97%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

TORONTO, July 29, 2024 /PRNewswire/ - New Gold Inc. ("New Gold" or the "Company") (TSX: NGD) (NYSE American: NGD) announces that operations resumed during the day shift on Saturday July 27^th at the Rainy River Mine in northwestern Ontario, following the employee fatality reported on July 24^th. Operations safely resumed Saturday, as no other equipment or site infrastructure was impacted in the incident. New Gold is supporting the authorities with their investigation.

The thoughts of management remain with the family, friends and colleagues who have been impacted by this tragic incident. The health, safety and wellbeing of our employees is our top priority.

About New Gold
New Gold is a Canadian-focused intermediate mining company with a portfolio of two core producing assets in Canada, the Rainy River gold mine and the New Afton copper-gold mine. The Company also holds other Canadian-focused investments. New Gold's vision is to build a leading diversified intermediate gold company based in Canada that is committed to the environment and social responsibility. For further information on the Company, visit www.newgold.com. 

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SOURCE New Gold Inc.

FAQ

When did New Gold Inc. (NGD) resume operations at the Rainy River Mine?

New Gold Inc. (NGD) resumed operations at the Rainy River Mine during the day shift on Saturday, July 27th, 2024.

What caused the temporary suspension of operations at New Gold's (NGD) Rainy River Mine?

Operations at New Gold's (NGD) Rainy River Mine were temporarily suspended due to an employee fatality reported on July 24th, 2024.

Was there any damage to equipment or infrastructure at New Gold's (NGD) Rainy River Mine?

No, New Gold Inc. (NGD) reported that no other equipment or site infrastructure was impacted by the incident at the Rainy River Mine.

How is New Gold Inc. (NGD) responding to the incident at the Rainy River Mine?

New Gold Inc. (NGD) is supporting authorities with their investigation into the incident and emphasizes that employee health, safety, and wellbeing remain their top priority.