Gold Mining In Eastern Europe1
Gold Investing News - 5/10/2014
Resource companies are becoming increasingly interested in mining
opportunities across Eastern Europe as countries look to emerge from
political turmoil and use the mining industry to jump-start their
economies.
As the political turmoil that has characterized the region for decades
looks to subside, mining companies are finding the area not only promising
for mineral discoveries, but also hospitable to mining activity. Countries
in eastern Europe contain sites that are highly prospective for many
different minerals, including gold.
For example, Serbia - a country with a mining history stretching back to
Roman times - is seeing a revival in its minerals sector. The country's
mining efforts have lagged since the early 1990s, when civil war ripped
through the nation, but the sector is currently rebounding as companies
explore the area. Serbia is part of a larger trend of Eastern European
countries turning to an active mining market to recover from their own
political tensions and troubles on an economic level, reports Reuters6.
Here's a look at five resource companies currently involved in exploring
and mining for gold in Eastern Europe.
Lydian International (TSX:LYD7)
Lydian International is a gold mining and mineral exploration company
operating in Armenia and Georgia. Its Amulsar project in southern Armenia
is expected to begin full production in 2016, and hosts measured gold
resources of 1.8 million ounces at 1.1 grams per ton.
The licenses to the project are 100 percent held by Geoteam, an Armenian
subsidiary of Lydian International. The company's Kela project in Georgia
was discovered by its geologists in 2010. Initial exploration has yielded
gold sample results from 1 to 4 grams per ton of gold. Lydian believes
Georgia is a promising country for mining activity, as it has entered a
period of reform and growth.
Dundee Precious Metals (TSX:DPM8)
Dundee Precious Metals owns and operates mines in Bulgaria and Armenia,
with further exploration properties in Serbia. Its Chelopech gold and
copper9 mine in Bulgaria produced 131,825 ounces of gold in 2013 and is
expected to last through 2025. The company's Kapan copper-gold-silver10zinc11 mine in Armenia produced 24,360 ounces of gold in 2013. Both
operations are underground mines, with minerals processed by crushing,
grinding and flotation.
The company is working on gaining approval for plans to develop its
Krumovgrad gold and silver mine in Bulgaria as it looks to expand its
operations. In July, the Krumovgrad Municipal Council approved the terms of
reference12 for preparing a detailed development plan for the project - a
significant milestone on the way to construction.
Gabriel Resources (TSX:GBU13)
Gabriel Resources is focused on its flagship Rosia Montana gold and silver
project, located in Romania. According to the company's website, the Rosia
Montana region of the country has undergone significant economic decline
and environmental damage, but there is now a plan to revitalize the area.
The Rosia Montana project is considered to be part of this plan, and
Gabriel Resources believes the mine has the potential to make a significant
positive contribution to Romania's gross domestic product.
The development holds measured and indicated resources of 17.1 million
ounces of gold, including proven and probable resources. Currently, Gabriel
Resources is working on the permitting phase of the project, including
environmental approvals. Beyond that, the company also has an exploration
project in Romania known as the Bucium project, which includes two deposits
that both feature gold mineralization.
Reservoir Minerals (TSXV:RMC14)
Reservoir Minerals operates in both Eastern Europe and Africa. Its European
projects are in Serbia, where it holds exploration permits in highly
prospective areas. The company operates in Eastern Europe through its 100
percent owned operating company, Balkan Exploration and Mining and Tilva.
Reservoir is drilling at the Timok project, for which it has an earn in
agreement with Freeport McMoRan (NYSE:FCX15).
Another project, also located at Timok, is 100 percent owned by
Reservoir.
In total, the company is involved in 10 projects in Serbia. Most are
polymetallic, while two are exclusively gold projects. In July 2014, the
company obtained new exploration licenses16 for copper, silver and gold in
Serbia, Romania and Macedonia, expanding its reach in the area. The company
has started exploration work at its Nikolicevo permit at its 100 percent
owned Timok property as it looks to asses the potential of the property.
Pilot Gold (TSX:PLG17)
Pilot Gold has projects in Turkey, a country that is part of Southeastern
Europe but falls in the geopolitical designation of Eastern Europe. The
company has two gold-copper projects, namely the TV Tower and Halilaga
projects.
Those assets are located close to one another in a mining-friendly area
that is separated from agriculture and settlements, according to the
company's website. Pilot Gold owns a 40 percent interest in the TV Tower
project, with the other 60 percent is owned by a Turkish subsidiary of Teck
Resources Limited (TSE:TCK.B18). Pilot Gold is operator for the TV Tower
project, while the Halilaga project has the same ownership arrangement but
is operated by Teck Resources.
http://goldinvestingnews.com/46234/serbia-armenia-bulgaria-pilot-goldlydian-international-reservoir-minerals-lyd-dpm-gbu-rmc-plg.html
Lab Tools To Let Mining Communities In Armenia Take
Control Of Health Risks
asbarez.com - 6/10/2014
YEREVAN--ONEArmenia has launched its newest crowdfunding campaign,
this time for lab equipment that will enable mining communities in Armenia
A river contaminated with toxic waste from mining operations
to detect toxic pollution in their
contamination in children's blood.
$29,000 and is implemented through
University of Armenia (AUA) Center
Mining.http://crm.aua.am/
soil, and water, and identify lead
This campaign has a fundraising goal of
collaboration with the American
for Responsible
There are currently 400 mines operating in Armenia, a small country with an
area the size of Belgium. Twenty-two of these are active metal mines that
are a major source of toxic pollution when improperly monitored and
controlled.
Research done by the Blacksmith Institute and the American University of
Armenia shows that high concentrations of heavy metals exist in many mining
communities where children play, adults work, and families grow their food.
"We are committed to improving environmental conditions for communities
throughout Armenia," says Alen Amirkhanian, director of the AUA Acopian
Center for the Environment and the AUA Center for Responsible Mining. "This
fundraising effort will give us the tools and equipment we need to do this
on a wide scale and on an ongoing basis," says Amirkhanian.
More than 215,000 people across 20 communities in Armenia are at risk of
exposure to heavy-metal pollution from mining and related industrial
activities. Exposure to elements such as arsenic, lead, cadmium, and
chromium lead to a wide range of health consequences including cancer,
fertility problems, and reduced intellectual development in children.
The equipment to be purchased will help mining communities determine the
specific locations and levels of toxic pollution in their soil and the
levels of pollution in water. This information will help communities manage
their health risks by avoiding polluted areas and taking steps to stabilize
the soil in smaller, more manageable sites.
The equipment could also arm communities with information to hold polluters
accountable and seek compensation for remediation and cleanup.
The devices will be kept at AUA and taken to mining communities for
analysis and testing. Additionally, AUA will implement various educational
and outreach programs in impacted towns and villages so that communities
are well aware of the risks from mining and action steps to mitigate these
risk.
Learn more about the project and crowdfunding campaign by visiting the
Indiegogo page.
https://www.indiegogo.com/projects/let-s-protect-armenia-from-toxicpollution
Non-profit funding platform ONEArmenia was founded in September 2012 to
stand with the change-making individuals and the organizations they
represent, using social media and crowd-funding to involve anyone with an
Internet connection in boosting projects that are geared toward making
tangible changes in Armenia now. The ONEArmenia network makes it possible
to not only raise money for a project based in Armenia as a worldwide
community, but to also track the progress of said project with complete
access to financial information.
http://asbarez.com/127620/lab-tools-to-let-mining-communities-in-armeniatake-control-of-health-risks/