Analysis of the global market, liquidity, supply and demand, gold as a monetary asset. Market news and reports

www.marketintelligence.gold.org

Hello, you either have JavaScript turned off or an old version of Adobe's Flash Player. Get the latest Flash player.

Gold

Atlanta gold project one step nearer > Gold News > World Gold Council, gold market information and intelligence

 

Atlanta gold project one step nearer

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.

Thursday, 1st June 2006 (3981 views)

The Idaho Forest Service has approved recent revisions to a proposal that could see a gold mine established near the town of Atlanta on the Boise river, following several months of negotiations with local residents.

Certain groups in the historic mining town of Atlanta have raised concerns about the Atlanta Gold Corporation's plans to mine for gold in two remote pit areas on high mountainous ground.

Among the main reasons for opposition to the project are the possible impact that by-products such as cyanide could have on the water supply, and the perceived dangers of transporting explosives and chemicals along the river, especially in harsh winter conditions.

In response to the concerns, Atlanta Gold has revised its plan to control construction costs and develop the project in five distinct, contained phases.

It has also agreed to take strict safety measures for transport convoys and to stop all transport operations in winter.

If the project goes ahead, a feasibility study by Atlanta Gold has estimated the mine could have a life of more than ten years, with production rates reaching 100,000 ounces per year. Existing underground reserves could also increase the mine life.

 

« Back to Gold News stories

 

Gold News Archive:

 
 

Search

Search our gold investment information.

  • Gold Spot Price
  • Bid: $1162.10
  • Ask: $1162.90
  • Last Update: 06:33 GMT
© 2009 World Gold Council - all rights reserved. Produced and managed by CFP Group.