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Gold/Mining/Energy : TVX Gold

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To: cody andre who started this subject1/24/2001 12:16:20 PM
From: Edmund Lee  Read Replies (2) of 905
 
COUNCIL OF STATE HEARS ARGUMENTS AGAINST TVX Thessaloniki, 15 January 2001 (10:56 UTC+2)
The rapporteur for the Council of State, Greece's top administrative body, has rejected the arguments of a petition filed by a group of Halkidiki residents who are opposed to plans by Canadian-based TVX Hellas to expand its facilities in their area.

The locals argued that a gold mine operated by TVX Hellas is harmful to the environment and their health and that the decision to allow the mine to go ahead was illegal and unconstitutional.

The rapporteur responded that the company had taken all the necessary steps to protect the environment and the antiquities in the area.

The residents' legal counsel countered by drawing attention to the dangers of pollution the water resources and soil in the area from chemicals used in the mine that were on the black list of dangerous toxic substances.

TVX, a Toronto-based mining company, wants to expand its gold mining operations in the area and to build a processing metal plant at the Olympiada site.

Its polymetallic gold project, (budgeted at $248 million) aims to develop 254,000 ounces of gold on an annual basis, along with 2.3 million ounces of silver, 21,500 tons of zinc and 22,500 tons of lead over the first five years of production.

Prior to gaining the state's approval of its environmental impact report last year, TVX was subject to a series of protests and obstructive action from local groups.

mpa.gr

Does it means the road is clear for TVX's Greek project?
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