no lisc in ghana for the akyem project
End of last week Ghana EPA refused to give Newmont their lisc to mine for the Akyem project. Its on hold for indefinately. Up to date US$200mill has been spent in preparation, however some Mr Cleaver Us guy thought it was going to be a breeze. No preparation was given to the epa on a alternative powering facility for the plant. Epa had informed them that they would be a burden on the existing power grid system and expected them to offer alternatives. Newmont project management didnt account for the cost of any diesal generators as a back up solution. Now anglogold and newmont desperate to get their mines approved are having a meeting to suggest building a alternative power station, just to supply the mines. How long will this take, anyones guess, couple of years, then wait until the epa approves the project again. Same old story, attitude were the big guys and always get our way. Not this time . Heads will roll over this.
NEM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
