Sale of Gold Ridge mine to Solomons nearly done

Radio New Zealand

police confront local people

Police confront local landowners at the mine earlier this year

The Australian based owner of the Gold Ridge gold mine in Solomons Islands, St Barbara, has confirmed the sale of the mine to the Solomons government is being completed.

The company would not disclose the terms of the transfer, saying negotiations are still underway but it says it would not play any further part in the operation of the mine.

The mine has not operated since early April after flooding put it out of action.

Earlier this month, the company laid off hundreds of local workers.

Leave a comment

Filed under Financial returns, Solomon Islands

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s