Friday, 25th June 2004 (3138 views)

The New Zealand town of Coromandel is set for a new mining boom after over 100 years since the initial gold rush occurred there.

New plans for the area will see the harbour drained to ease flooding problems and it is believed millions of dollars worth of gold could be in the mudflats.

The precious metal could also be used to help fund the flooding preventions for the town.

Half of Coromandel's gold was reportedly tipped into the harbour due to old mining technology that used to be used in the town.

However it will be a long time before any significant gold findings can be made.

The gold would also help to pay for a 10 ha reclamation of the seafront and a new wharf.

 

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