Friday, May 20, 2011

Gold mine in eastern Cuba to re-open

Gold mine in eastern Cuba to re-open

A gold mine in eastern Cuba will "soon" reopen, Deputy Basic Industries
Minister Iván Martínez said, according to official media.

The Oro-Barita project at El Cobre near Santiago de Cuba is financed by
Venezuela and the ALBA trade and integration agreement, and part of a
larger effort to restart gold mining at five locations on the island.

Cuban state company Geominera S.A., which is in charge of the project,
expects the mine to have gold reserves for five years in a first phase.
The El Cobre area might yield more gold reserves, according to
officials. The original open-pit gold mine closed in 2001.

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