"Gold Link" A Billion Dollar Gold Strike

Posted by Gold FM on 24/08/2011

After weeks of chinese whispers, rumour and speculation around the Waihi district about a pending Newmont Waihi Gold announcement, people were put out of their misery today. The company announced that results of on-going exploration activities have yielded promising results, and the company is looking to extend it's mining operations in Waihi to 2020 and beyond.

Dubbed "Golden Link", there are two separate proposals on the table. One is an exploration programme located within the Martha Mine license area, and the other is "Correnso", a proposed underground mine at the Waihi "East End", affecting 30 homes.

The "Martha Exploration Project" will involve the lodging of an application by Newmont at the end of this month to vary their existing Martha mining license. This will not require the company to go through a public notification process.The exploration will determine whether mining beneath Martha Mine is a viable option. Although this project is not expected to go beneath neighbouring homes at present, results could lead on to an underground mine at Martha in the future.

The "Correnso" project is a proposed underground mine which will eventually replace the Favona and Trio underground mines.This proposal will involve mining directly beneath about 30 homes in the east end of Waihi and will require Newmont Waihi Gold to go through a full public notification process under the Resource Management Act (RMA). This means that submissions can be made to their proposal either in support, or in opposition to their expansion plans.

Under the Crown Minerals Act property owners above underground mines are unable to use legal methods to restrict mining beneath them, but they will be able to challenge the establishment of a mine and make submissions on conditions during the RMA process if they wish.

Although the projects are not expected to employ new workers, it will extend the job life of the current work force.

Newmont Waihi Gold General Manager Glen Grindlay said modern mining practises will cause little effect above ground and that Newmont is keen to communicate with the community. He is quoted as saying the company's community investment programme would also continue for the life of the programme.

Listen to the interview with Newmont External Affairs Manager Sefton Darby