Permitting delays impact British Columbia projects valued at C$38 billion, AME says
British Columbia's exploration sector has over 60 critical mineral projects waiting for permits.
The Guardian reports the approval for Britain’s only commercial goldmine despite opposition from environmental groups has sparked fears for the Loch Lomond and the Trossachs National Park national park and tourist interests in the area. The mine is around 1 kilometre inside the park boundary.
It was the second time Sydney-listed mining company Scotgold had applied to mine gold and silver at the Cononish site, which it bought in 2007. It was turned down last year over concerns about waste – 400,000 tonnes will be produced over the mine’s 10-year life – and rehabilitation. At current prices, Scotgold believes there could be around $275 million of the precious metals at the site and it could start producing ounces early in 2013.
The Guardian quotes Hebe Carus, access and conservation officer at the Mountaineering Council for Scotland: “It is going to be a pretty alien looking feature in a relatively wild area. Just the fact that it is in the heart of the wild area, surrounded by all these mountains where people walk to get away from it all.”
Earlier this month The Scotsman interviewed Scotgold chief executive Chris Sangster who spent the past 14 months travelling around to meetings to ensure that the miner’s flagship project isn’t thwarted by planners for a second time.
Loss-making Scotgold Resources Limited (ASX:SGZ) is listed in Sydney where it is worth $16.8 million. Sangster’s next challenge is to secure the more than $25 million need to finance the project. The counter is up more than 60% since mid September in anticipation of the approval.
Image of golfers playing the Loch Lomond course by John Waller / Shutterstock.com
2 Comments
Anon
This is not “Britain’s only goldmine”. Britain’s only currently-working goldmine is in Northern Ireland (which is part of Great Britain).
http://www.galantas.com/corporate/s/AboutUs.html
Never trust the Guardian to get it’s facts straight….
GeoBeav
Actually Northern Ireland is not a part of Great Britain, it is part of the United Kingdom, as in the United Kingdom of Great Britain and Northern Ireland. It looks like the Guardian is not the only one that needs to gets its facts straight