Perth-based precious metals explorer Dragon Mining NL's Swedish subsidiary has failed in an application to increase plant throughput at its Svartliden gold project to 500,000 tonnes per annum, the company has announced.
Perth-based precious metals explorer Dragon Mining NL's Swedish subsidiary has failed in an application to increase plant throughput at its Svartliden gold project to 500,000 tonnes per annum, the company has announced.
The full text of a company announcement is pasted below
The Environmental Court of Sweden has advised Dragon Mining (Sweden) AB the application to increase plant throughput at Svartliden to 500,000 tonnes per annum in production year 3 (1 March 2007 to 28 February 2008) and production year 4 (1 March 2008 to 28 February 2009) has not been approved. The ability to produce 500,000 tonnes per annum in year 5 is not effected.
The reasons which are contained in the decision handed down in Sweden on 9 October 2007 are being reviewed by the Company's legal representative and senior personnel. An appeal against the decision will be considered following that review.
The impact of the decision on the Company's operations at Svartliden are not immediately quantifiable, but efficiencies and better utilization of the plant which have been achieved over the past twelve months will be limited in effect.
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