21 Feb 2007

Solomons gold mining company delays first gold pour

10:56 am on 21 February 2007

The scheduled first gold pour by Solomon Islands only gold mining company, Gold Ridge Mining Limited planned for December is on hold.

The Country Manager of Gold Ridge Mining, Val Beniuk says the delay is due to the company carrying out a feasibility study on the use of bio-fuel.

Mr Beniuk says a study is being carried out by an Australian firm into the possibility of using palm oil from Guadalcanal Plains Palm Oil Limited as an alternative form of energy to generate electricity at the mine site.

He says the price of fossil fuel has gone up three times compared to when the mine first started operating in 1998 before its closure during the ethnic tension in 2000.