Australians dump troubled Solomon Islands mine on landowners

gold ridge

Photo: AFP

St Barbara sells Solomons gold mine

Radio New Zealand

The Gold Ridge gold mine in Solomon Islands has been sold one year since it was closed after massive floods affected its operation.

In a press statement released today, its Australian owner, St Barbara, has confirmed that it has signed a deed of sale to an unnamed Solomon Islands company associated with local landowners.

The terms and conditions of the sale have been declared confidential and the sale price is described as being for a nominal amount.

Completion of the sale is due on Tuesday 6th May.

Related story: Solomons says no to tailings dam drain

 

4 Comments

Filed under Environmental impact, Financial returns, Solomon Islands

4 responses to “Australians dump troubled Solomon Islands mine on landowners

  1. Compared to PNG mines Solomon island mines was not all that a problem. I wonder what will PNG face in the near future. Some mines have already been given away to charity in PNG.

  2. Serena Lillywhite

    Dear colleagues,

    Oxfam has just released a new report on Mning, Resetlement and Lost Livelihoods: Listening to the voices of the Mualadzi community in Mozambique.

    The 3600 people resettled by Rio Tinto now face food and water insecurity and a precarious future.

    The report is available at

    http://www.oxfam.org.au/resettlement

    Regards

    Serena Lillywhite

  3. Stand Up

    It just goes to show that St Barbara Mining cannot manage owner operator mines. Maybe if they focused less on paying their executives enormous inflated pay packets (thanks to their HR guru Katie-Jeyn Romeyn compensation and benefits analysis skills or dare I say it lack of skills) and used that money to develop the local workforce when they first bought the operation the need for this terrible exit would never have happened. Katie-Jeyn Romeyn’s idea of local workforce development was paying Brisbane based school fees of a SI MP’s sons. Not only illegal but shameful, a legacy not to be proud of and she certainly should not be crowing now that she is some sort of Success Coach. If St Barbara wants to continue to own and operate mines in developing countries they really need to incorporate CSR in all areas of their operations. You may have a short term jump in your share price but when you go to the next community to operate another mine they will not have you there, and with only 2 mines on your books I think you are already looking for your next pay packet…

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