Manas Sells Some Kyrgyz Assets to Chinese Buyers

Manas Resources, an Australia-based gold producer, said it signed two separate agreements relating to the sale of its mining assets in the Kyrgyz Republic. The sales will bring Manas total consideration of $10.5 million.

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Gold Project Gets Cambodian Environmental Approval

Angkor Gold Corp. announced that the Cambodian government recently approved the Environmental and Social Impact Assessment for Mesco Gold (Cambodia) Ltd.’s Phum Syarung mine located in northeastern Cambodia.

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Lydian Breaks Ground on Gold Project in Armenia

Lydian International held a groundbreaking ceremony at its Amulsar gold project in Armenia, on August 19, as it moves into the construction phase.

Located in the south-central region of the country, Amulsar is expected to be the largest gold mine in Armenia, producing an average of 243,000 oz/y of gold over the initial five years of operations. Initial 10-year life-of-mine total cash cost has been estimated by the company at $509/oz.

As construction progresses and operations begin, Lydian said it will also be evaluating future additional potential from currently defined inferred mineral resources and, ultimately, from open extensions at depth.

Production is expected to begin in 2018 using conventional open-pit mining and heap-leach processing.

Lydian has begun construction of the Amulsar gold project and expects production to begin in 2018. The mine will be the largest of its kind in Armenia. (Photo: Lydian International)

India Looks Worldwide for Mineral Survey Candidate

India’s Ministry of Mines is seeking an international mineral exploration organization with expertise to conduct an aerial survey of 800,000 km2 of land labeled as having “obvious geological potential” by the government. The survey exercise is part of the Ministry of Mine’s action plan to boost the contribution of India’s domestic mining industry to the national Gross Domestic Product (GDP) to 3.3% by 2019, up from 2.3% at present. According to government official, the appointment of the exploration organization, and subsequent start of the aerial survey, was expected to commence by January 2017.

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