News 14 Mar 2018
Work to revive and resume the operation of Gold Ridge Mining Ltd in Central Guadalcanal, Solomon Islands is progressing well.
That’s according to Minister for Mines, Energy & Rural Electrification Bradley Tovosia.
Mr Tovosia updated parliament on the work to reopen Gold Ridge Mining when he was questioned by Member of Parliament (MP) for Aoke-Langalanga Matthew Wale on Tuesday.
Mr Wale asked the minister to inform parliament on the progress on resuming mining operation at Gold Ridge.
Mr Tovosia said the current progress is that a local landowner company known as Gold Ridge Community Investment Limited (GCIL) took over from St Barbra by purchasing it for AUS$100.
However, the minister said the risk they took is to deal with the tailings dam, which is beyond their financial control.
But the minister said a Chinese owned Australian company was engaged and they have started to clean up, with machines shifted to the site.
“So I say work is progressing good at the moment,” Mr Tovosia stated.
He added every company has program thus the new investor at Gold Ridge has a three months plan to audit plants and carry out redesign work on the site.
He said it’s two months now in its audit and design work, adding the company has to be careful on its spending or else it incurs losses in low production.
And he said once operation resumes, gold bar is expected towards the end of the year or early 2019.
Source: Solomon Star