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, 2nd February 2005 (3670 views)

Climax Mining is to begin development of a new $85 million gold mining project in Manila later in the year.<br/><br/>The Australian firm plans to start work in the second half of 2005 and hopes the Dinkidi project will start to produce gold and copper by the end of 2006.<br/><br/>According to feasibility studies conducted by the company, around 150,000 ounces of gold equivalent a year for 14 years could be produced.<br/><br/>Climax Mining chairman, Jim Askew, explained to Dow Jones that the firm is also going to start negotiating for a loan, to help complete financing for the project.<br/><br/>It is thought as much as 60 per cent of the funding required will be provided by the loan.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=7710287"/>

 

« Back to Gold News stories