GOVERNMENT ON GOLDRIDGE

Gold Ridge Mining Limited billboard. Photo credit: SIBC.

Gold Ridge Mining Limited billboard. Photo credit: SIBC.

Gold Ridge mine remains closed due to the impacts of the April floods and more recently, wanton damage to the equipment required to remove water from the tailings storage facility. The Care-taker Government  issued a statement to clarify some inaccurate reporting by the media, which has caused uneasiness amongst Gold Ridge landowners. In that statement, the Care taker government clarifies, there is no negotiation with any foreign investor to sell the mine. It adds, it remains the property of Gold Ridge Mining Limited and its owner, St Barbara- those are the only entities the government is dealing with.

The Government also confirms, a proposal to transfer the mine and its assets back to the Government was also on the table.  However at present it does not have technical capacity to assess the various terms of the proposal, this is why it is engaging technical people to provide advise on the terms, and more importantly, possible liabilities under the proposal. The Care- taker government says at present, the Government has the services of Fasken Martineau, a Canadian based law firm to advise on the legal aspects of the mine. It says, process to engage experts to assess the financial and non-financial aspects of the mine including the environmental and technical liabilities of the company has been looked at. The government says as soon as Gold Ridge Mining Limited grants access to site and information, these experts will visit the site and undertake their assessment.

It is expected that their assessments will be submitted to Government before the end of October. SIBC News understands, the Goldridge landowners have strongly warned the government NOT to by pass them regarding any deals about their resources.

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