Tuesday, 9th August 2005 (2842 views)

The Bjorkdal gold mine in Sweden is set to experience a significant expansion now that it has been taken over by the Canadian company Gold Ore Resources.

Gold Ore has bought the mine from MinMet for $8 million, which must be paid over the next five years.

The company plans to work with existing local management and employees in current mining projects.

It has also expressed desires to invest money in new exploration drilling to develop the Bjorkdal ore reserve base.

"This is an excellent opportunity for MinMet to realise value from the company's investment in the Bjorkdal mine at a premium to its book value," MinMet's chief executive Michael Nolan is reported to have said in RTE Business.

Canada-based Gold Ore Resources is currently focused on a number of projects in Central America.


© Adfero Ltd

 

« Back to the stories

 

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.