article in ft

November 4, 2012 2:46 pm
British mining shows signs of revival
By Helen Thomas
©Ben Cooper

“There are people who think the national park should be preserved in aspic,” says Mr Goodwill. “But?.?.?.?the park is as much about its communities and people as the landscape itself.”
Chris Sangster, CEO of Scotgold, knows that argument. A year ago, at the second attempt, he won approval to develop the Cononish gold mine, located about two hours north of Glasgow along the winding roads of Loch Lomond’s national park.
Cononish, where a 1km tunnel is dotted with ancient equipment from past development attempts, is a “semi-niche” operation, says Mr Sangster, which could produce about 20,000 ounces of precious metal from 2014.
A quarter of the gold – or enough for about 30,000 wedding rings – will be produced on site, offering an opportunity to launch a Scottish Gold brand with the country’s jewellers.
They have “no idea of the size of the market,” he concedes – but jewellers and the Edinburgh Assay Office have been enthusiastic and Welsh gold, from that country’s handful of remaining mines, sells for about 3 times the spot price for the metal.
The Scottish government, too, has backed the project, which must now raise financing.
“There are opportunities to develop primary industry again,” says Mr Sangster. “Some [EU] countries that have traditionally been mining averse are now looking with great interest at these things called mines.

Scotgold’s Mr Sangster, buoyed by planning success, is eyeing exploration of other gold and platinum prospects in the area, where panhandling hobbyists can be seen skimming rivers on fine days.
“This could be the hair on the elephant’s back,” he says. “There is an elephant there somewhere.”
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Only time will tell us if Scottish Gold will command as good a premium as Welsh Gold does and how many other projects can be brought to production . Panhandling hobbyists can be seen skimming rivers what ever the weather is doing ,on my last visit on 2nd Nov I seen guys in the river between Tyndrum and The Brige of Orchy and it wasn't a fine day then , 4 degrees with occasional sleet . Either they are mad or they are making good money or maybe a bit of both.

Don't know if you can get BBC2 Scotland , supposed to be some coverage in programme called Landward BBC2 Scotland, 7:00 pm. GMT Friday 9/6/2012


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