The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Wednesday, 13th October 2004 (3852 views)

Pearl Asian Mining has unveiled a new sharing agreement, whereby it is allowed to operate on the historically known minerals rich Masbate Gold Mining properties.<BR/><BR/>The Minerals Mining Product Sharing Agreement will last 25 years and can be renewed after this for a further 25 years.<BR/><BR/>Pearl Asian will be able to complete mining in the Philippines with the agreement and can operate in sites with proven resolves of gold, silver and copper.<BR/><BR/>The site is made up of 8,000 hectares and is from before Word War II with high grade gold ore.<BR/><BR/>Pearl Asian entered into the agreement with Baleno Amalgamated Minerals, as the Baleno Gold Project, which will consist of four phases.<BR/><BR/>It is hoped that during the first quarter of 2005, around 5,000 troy ounces of gold will be produced.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=3606277"/>

 

« Back to Gold News stories