New year gold rush likely as mine ready for production
Mining is expected to start next year at the Cononish gold and silver mine nearTyndrum.
Scotgold Resources Ltd said this week it has now met all conditions to start developing the mine, Scotland’s first ever commercial gold mine.
Confirmation Scotgold has now met all the conditions of its planning permission and legal agreement was given by the Trossachs National Park Planning Authority.
Scotgold chief executive 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, culminating in first gold production planned for end of 2019.”
Cononish is located in the north-west of the national park.
News of the imminent start to operations was welcomed by Stirling MP Stephen Kerr, who visited the site earlier this year along with local Tory councillor Jeremy McDonald, meeting with Scotgold executive director Chris Sangster.
The mine is estimated to contain up to 200,000 ounces of gold, worth around £200 million at today’s prices. Working with the national park, the owners are seeking to ensure it is as environmentally friendly as possible and that 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 60 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.
Mr Kerr said:“During my visit we discussed the planned start to operations and I am delighted 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.”