Vancouver — After receiving acceptance of the environmental impact statement and found to be in compliance with environmental regulations, all that is needed now for the Ovacik gold mine to begin operations again is the operating permit. Issuance of the permit by the Minsitry of Health could take several more weeks however, as it goes through the gazetting period, according to the soon-to-be new owner, Frontier Pacific (FRP-V).
Newmont Mining’s (NEM-V)subsidiary and the various levels of government have received acceptance from the Ministry of Forestry and Environment for the company’s environmental impact assessment and found to be in compliance with applicable environmental legislation.
Newmont is operating the mine until Frontier Pacific pays for the acquisition which has been under negotiation since June. Receipt of the operating permit will clear the way for the mine’s pending sale which was put in limbo last month when the government ordered the mine closed. The mine had been operating under a temporary permit based on an incomplete environmental assessment since 2001.
Newmont was ordered to complete certain permitting requirements and an updated environmental impact assessment to the Ministry of Environment and Forestry.
Frontier Pacific expects that it will have more security when starting with a full operating permit. There had long been considerable opposition to the mine owing to fears of soil contamination from cyanide use.
More than 250 workers were laid off during the recent shut-down.Production from open-pit and underground operations at the daily rate of 1,500 tonnes per day had been producing 170,000 oz. gold per year at cash costs of US$130 per oz. in 2003
Frontier Pacific is also working on aquiring the Perama Hill gold project just across the border in northeastern Greece.
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