Wednesday, 28th June 2006 (1319 views)

The Beaconsfield gold mine in Tasmania could reopen in September, it has emerged.

The mine has been closed since a landslide in April killed one miner and trapped a further two underground for 14 days.

At a general meeting of part-owner Beaconsfield Gold today (June 28), shareholders were also told by director Mike Trumbull that the company would go ahead with a buyout of stakeholder Allstate if it agreed to sell its 51.51 per cent stake in the mine, The Age reports.

Trumbull was adamant that the mine would not close and would be reopened once final approval was gained from the chief inspector of mines.

"The mine won't close," he said. "I can assure you it will reopen but we just don't know when and under what circumstances at this stage. If we are talking September, and we get approval to do more than care and maintenance, one of the first things to happen will be to bring the underground stockpile to the surface."

If the mine does reopen, the government of Tasmania has said it will waive $680,000 worth of debt relating mainly to stamp duty. The Beaconsfield mine is important to the local economy.

 

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