https://www.miningweekly.com

St Barbara divests Gold Ridge mine

1st May 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Gold miner St Barbara has agreed to sell its defunct Gold Ridge mine, in the Solomon Islands, for an undisclosed amount.

Operations at the Gold Ridge mine were suspended in April last year, owing to torrential rainfall and ensuing flooding. To date, St Barbara had been unable to resume production from the mine site owing to a number of reasons, including the presence of illegal miners at the site and infrastructure damage.

Since suspending operations, St Barbara had been preparing the processing plant for care and maintenance, while also repairing the water treatment plant and pumping stations for the tailing storage facility.

While the company called on the Solomon Islands government to act quickly in order to avoid an overflow of the tailings storage facility at the Gold Ridge mine, the government formally rejected the company’s proposal to discharge untreated water as well as the offer of A$1-million in funding for the construction of a water treatment plant.

As part of the sale negotiations, St Barbara had agreed to fund the manufacture and delivery of a replacement water treatment plant, which was likely to take up to four months.

The sales agreement also included five subsidiaries of St Barbara.

Completion of the sale was due to be completed on May 6.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 
VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.045 0.069s - 111pq - 2rq
Subscribe Now