Vietnam Gold Trail
New Zealand firm hope to strike gold in Binh Dinh’s hills
By QUOC HUNG
(SGT-HCMC/Nov3, 2006) New Zealand’s KS Mining Limited, a subsidiary of Zedex Minerals Ltd. and Binh Dinh’s Biotan Minerals Joint Stock Co. on Wednesday signed an agreement to set up a joint venture to exploit the central province of Binh Dinh’s hidden gold reserves.
The Binh Dinh New Zealand Gold Company Limited will be registered with a total investment capital of US$15 million, of which Biotan will contribute 25%. The joint venture plans to further develop the Tien Thuan gold mine in Tay Son District.
The longer-term plan, if the initial phase is successful, is for a large-scale investment of more than US$100 million.
Nguyen Thanh Hai, director of Binh Dinh’s Investment Promotion Center, told the Daily yesterday that the project is now awaiting approval from the central government authorities and the ministries concerned via their respective departments.
Through Olympus Pacific Minerals (a Canadian company in which Zedex Minerals is the largest shareholder), the New Zealand company is already also involved in another local gold mining project, in Quang Nam province’s mountainous Phu Ninh district.
That project is being developed by Bong Mieu Gold Mining Co., a joint venture between Olympus with an 80% stake and two Vietnamese enterprises – Minerals Development Co. (Mideco) and Quang Nam Mineral Industry Joint Stock Co. (Minco). The joint venture began modern commercial scale production at the Bong Mieu gold mine in April.
Source ==> https://www.saigontimes.com.vn/daily/detail.asp?muc=2&Sobao=2811&SoTT=5