Fortbridge Media ReleaseRepublic Gold [ASX: RAU] - Bolivian Government makes assurances on private mining investmentRepublic Gold Limited (ASX: RAU) today said they welcomed assurances made by the Bolivian government to silver producer Coeur DAlene Corporation on private mining investment.
The Companys flagship project is located in Bolivia - the Amayapampa Gold Project. Amayapampa is set to become Bolivias largest producing gold mine with total JORC Reserves of 787,300 ounces of gold from JORC Resources of over 1,280,000 ounces of gold.
Earlier this month there were media reports from Bolivia suggesting that some privately operated mines, those previously owned by the public sector, would be returned to the state.
However, a statement issued by one of Bolivias major silver producers, Coeur DAlene Corporation and reported in the media this week, confirms the Bolivian governments commitment to the role of private sector investment.
Coeur DAlene says that it has met with Bolivian Mining Minister Jose Pimentel and has received assurances that its San Bartolome mine will not be nationalized.
The Companys Executive Chairman Peter Wicks said that the assurances received by Coeur DAlene are welcome and will assist the Company in its efforts to develop Amayapampa.
Whilst previous and more recent hints from Bolivian government officials about nationalisation of mines did not impact directly on Amayapampa because it has not been in government hands in the past, nevertheless such signals can be a negative for investors. It is for this reason we welcome Minister Pimentels confirmation that there is a role for the private sector in the Bolivian mining industry, Mr Wicks said.
For further information, please contact:
Peter Wicks
Executive Chairman
Republic Gold Limited
P: +61 2 8249 4700
Media and Investor Relations:
Fortbridge Consulting
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Luke Dean
M: +61 414 535 433
E:
Bill Kemmery
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