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Tuesday, 9th August 2005 (4254 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.<br/><br/>Gold Ore has bought the mine from MinMet for $8 million, which must be paid over the next five years.<br/><br/>The company plans to work with existing local management and employees in current mining projects.<br/><br/>It has also expressed desires to invest money in new exploration drilling to develop the Bjorkdal ore reserve base.<br/><br/>"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.<br/><br/>Canada-based Gold Ore Resources is currently focused on a number of projects in Central America.<br/><br/><br/><img alt="track" src='http://feeds.directnews.org.uk/feedtrack/dn.gif?feedid=196&itemid=15019734'/>© Adfero Ltd

 

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