New year gold rush likely as mine ready for production
(As printed in the Stirling Observer 21.12.2018)
Mining is expected to start next year at the Cononish gold and silver mine near Tyndrum.
Scotgold resources LTD said this week it has now met all conditions of its planning permission and legal agreement was given by the Trossachs National Park planning authority.
Scotgold Chief Exec. Richard Gray said: "We are delighted to have reached this point and are looking forward to a very exciting 2019, bringing the Cononish project into production.
We can now put our implementation plans into action and anticipate the first rock-breaking activities at the Cononish mine portal starting early in the new year. We hope our many stakeholders will follow us on this journey, culimating in first gold production planned for end of 2019.
News of the imminent start to operations was welcomed by Stirling MP Stephen Kerr, who visted the site earlier this year along with local Cllr Jeremy McDonald and Scotgold Non Executive Director Chris Sangster.
The mine, situated in the Loch Lomond & Trossachs National Park near the beautiful Highland village of Tyndrum, is estimated to contain up to 200,000 ounces of gold, worth around £200 million at today's prices. The owners, Scotgold, have ensured the operation is as environmentally friendly as possible and will ensure the landscape is protected during operations.
The mine will operate for up to 17 years, depending on the rate of extraction . The company hopes to create sixty jobs and have pledged to invest £500,000 in direct payments to the local community and assist in creating a visitor centre should such a facility prove viable.
Stephen Kerr MP said:
During my visit we discussed the planned start to operations and I am delighted that the important conditions needed to protect the environment are in place and that operations are now able to begin. The impact on the local economy could be significant with new Jobs and help from the company to create a visitor centre so let’s wish the venture well.