Zijin Mining to take 9.9% stake in Montage Gold
As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
Yellow Giant is located in Canada, 110km South of Prince Rupert
Banks Island Gold says it is in ongoing discussions with the Ministry of Environment after the company’s Yellow Giant Gold Project was ordered to limit production after a pollution spill.
Earlier this month the company received a pollution abatement order due to “. . . a spill of water with sedimentation which occurred at the backfill dump location on June 25th at the Bob Zone.” The company was asked to submit a revised plan for tailings, water management and sediment control.
“The Company is in ongoing discussions with Ministry officials and will continue limited activities on-site in the next few days as it works with the regulatory authorities to ensure that operations can continue uninterrupted on a go-forward basis,” said Banks Island Gold CEO Benjamin Mossman in a news release.
The Yellow Giant Gold is an underground gold and silver project that is located on British Columbia’s north coast. In June the project produced 1,863 oz of gold.
CORRECTION: Original headline and lede stated that production was ordered to stop. Banks Island Gold says “production has been significantly impacted” after the order from the provincial government ministry. We regret the error.
