Juniors oppose Barrick’s plans to turn an old mine into a ski resort – by Valentina Ruiz Leotaud (Mining.com – October 24, 2017)

http://www.mining.com/

Junior miners say they oppose Barrick Gold’s (TSX, NYSE:ABX) idea to transform its old Mascot Giant nickel mine located near Hope, British Columbia, into a ski resort.

In an email sent out to the media, J.A. Chapman Mining Services Engineer, John Chapman, stated that his and other companies “are still actively conducting mineral exploration in and around the old Giant Mascot mine and are therefore against Barrick’s recreation proposal.”

Chapman attached a letter he sent back in 2012 to Gordon Hogg, the MLA for the B.C. riding of Surrey-White Rock, asking the provincial government to stop Barrick’s plans. He believes that the giant’s attempts to enter the hospitality business is just a way of turning a non-performing asset into a positive cash-flow operation.

“They are doing this because the BC government has not given them a full release for future environmental liability as a result of the old mining operations – which is foolish indeed. Once fully released, it is my opinion that Barrick would be able to sell or option the property to a mining company that then could explore for more ore deposits,” he wrote.

According to the engineer, who owns several mineral properties in the Hope Nickel Belt, there is substantial mineral discovery potential on and around the mine-site, especially below the 2600 Main Haulage Level.

For the rest of this article: http://www.mining.com/juniors-oppose-barricks-plans-turn-old-mine-ski-resort/

Comments are closed.