Monday, 9th June 2008 (561 views)

A new gold mine in north-central Washington is to begin producing gold-bearing ore after two decades.

Online news resource Seattle PI reports that the Buckhorn Mountain-based project has been held up by environmental protestors, but it is now ready to become the first new gold mining operation in Washington for more than ten years.

An agreement was reached between the mine owner, Kinross Gold, and the protestors in April, with the mining company agreeing to implement more environmental protections and mitigation measures.

The news provider adds that some 100 miners are already preparing the mine, which will play out one million ounces of gold in the next eight years.

It will be August when the first ore is sent to Kinross mill, it continues.

Meanwhile, it was recently reported that an "innovative" finance deal has been struck between Pamodzi Gold and its backers.

According to Reuters, the mining company will borrow money to finance its exploration and pay its financiers back in gold shares.

 

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