Mining in certain areas of TVX Gold‘s (TVX-T) Stratoni silver-lead-zinc operation, 65 km east of the Greek port of Thessaloniki, have again been suspended.
TVX’s Greek subsidiary, TVX Hellas, has been informed by the Greek Ministry of Development that mining in the areas will be interrupted until the Greek Government decides whether a new environmental impact study on expanding the mine is required.
The Greek government has assured TVX that it will make its decision as soon as possible. In the meantime, TVX has declared force majeure with respect to mining activities until the technical study is re-approved.
Says Sean Harvey, TVX’s president and chief executive officer: “It is disappointing that matters could not have been resolved in a timely manner and without impairing operational efficiencies.”
Late last year, the Greek Conseil d’Etat agreed that no new environmental impact study was required to support the formally approved technical study allowing for an expansion of the Mavres Petres mine. However, the Court also ruled that its decision must be confirmed by all relevant Ministries at Ministerial level prior to the re-approval of the study.
The Mavres Petres mine is part of the larger Stratoni operation, which produced 25,400 tonnes of zinc, 21,700 tonnes of lead, and 1.77 million ounces of silver during the first nine months of 2002.
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