Cyanide headaches for Newmont and Dundee Precious Metals

This was a bad week for cyanide-related news for Newmont and Dundee Precious Metals. Newmont’s gold mining operation in Ghana was fined $4.9 million for a cyanide-solution overflow which occured in December 2009 and killed some 850 fish. 

Dundee Precious Metals abandoned its five-year struggle to introduce a cyanide-based extraction process to its operation in Bulgaria. The latest set-back came in November 2009 when a Bulgarian court revoked 2008 environmental impact assessment resolution giving DPM an OK to its gold and copper mine in Chelopech

Not sure if a gold price of about $1090 an ounce is much of a constellation to these companies.

2 Comments to Cyanide headaches for Newmont and Dundee Precious Metals

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  2. Mining Journal notes that Dundee Precious Metals Inc, with subsidiary Chelopech Mining EAD, has secured long-term loan agreements worth US$66.75 million with the European Bank for Reconstruction and Development (EBRD) and Unicredit Bulbank (UCB)

    http://www.mining-journal.com/finance/chelopech-mine-financing?dm_i=5O3,BV0R,1SXOU6,XJBS,1

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