El Salvador president proposes bill to overturn metals mining ban
In 2017, El Salvador became the first country in the world to ban forms of metals mining.
Catalpa Resources and Conquest Mining have agreed to merge and buy a new asset from Newcrest Mining, Perth Now reported.
The newspaper says the new entity will acquire a 70 percent stake in Newcrest’s Cracow gold mine and will also buy the Mt Rawdon gold mine from Newcrest:
In a statement to the Australian Securities Exchange Catalpa and Conquest said the merged company will be in a position to produce 400-450,000 ounces of gold by 2013, putting it into to the top five of the local gold producers.
The combined market cap would be about $1.2 billion.
