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Friday, 13th March 2009 (1510 views)

Commissioners in Teller County, Colorado, have approved the final stage of a $200 million (£143 million) mine expansion plan near the town of Cripple Creek.

Located south-west of Colorado Springs, the property is operated by the Cripple Creek & Victor Gold Mining Company and the latest expansion concerns 178 acres, the Colorado Springs Gazette reported.

The majority of the expansion was approved in September 2008 and will ensure that the mine remains in operation until 2016.

An agreement has been reached between the mining company and the Cripple Creek city government that the original contours will be restored in the area once operations are finished.

Cripple Creek & Victor Gold Mining Company is a joint venture between AngloGold Ashanti (Colorado) and GCGC and has been operating in the Cripple Creek Mining District since 1976.

Around 250,000 troy ounces of gold were produced from the Cresson project in 2008, with production at the site starting in February 1995.

 

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