EMED Mining plans to invest EUR 300mn in gold mining in Slovakia.

By bne IntelliNews July 18, 2012
EMED Mining plans to invest about EUR 300mn in the next 10 years in gold mining operations in central Slovakia, actuality.sk reported. The preliminary economics of the Biely Vrch Scoping Study at the Detva Gold Project in Slovakia are very encouraging and the project is being systematically progressed towards development into a mine that will produce 60,000 ounces of gold annually. The miner expects to create about 150 direct jobs and some 600 indirect jobs in the region, which is plagued by high unemployment. EMED is now consulting communities and hopes to get soon a mine lease area permit from the Slovak authorities. The miner is also actively exploring for gold within its large licence area in central Slovakia. EMED Mining, which is listed on the AIM market of the London Stock Exchange and on the Toronto Stock Exchange, is focused on two key projects in Spain and Slovakia - the Detva Gold Project and the Rio Tinto Copper Mine in Spain.

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