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PM Sikua Welcomes Re-Launch Of Gold Ridge Mine
PM Sikua Welcomes Re-Launch Of Gold Ridge Mine
Prime Minister Dr Derek Sikua says today’s re-launch of the Gold Ridge Mine in Central Guadalcanal is a positive sign that the country has recovered from the years of ethnic conflict.
The mine was closed at the height of the ethnic crisis in 2000 which has significantly reduced the countries revenue in subsequent years.
Australian Company, Allied Gold took over operations of the mine in October last year and has today announced a US$150 million investment to reopen the mine.
Dr Sikua is confident that the re-opening will signal to the international community that Solomon Islands now has a conducive environment for investment and provides opportunities for credible foreign companies to contribute and grow the local economy.
“I am extremely happy to be here today and to be with you all, feeling gratified by the fact that we have gathered here to celebrate the reopening of the mine by Allied Gold Limited of Australia,” he said. “This has been made possible through the very important political will that translates intentions into actions,” he said.
Today’s groundbreaking ceremony signals a sense of fulfillment for the CNURA Government. The mine has left fond memories of vibrant commercial activities before the destruction of its facilities during the ethnic crisis.
Dr Sikua acknowledged the challenges that Allied Gold has encountered. However, the Prime Minister is pleased to see that their hard work has come to culmination despite obvious difficulties.
He added that reopening the mine marks another important step in the right direction for economic development for the country, Guadalcanal Province and more so tribal communities of the Gold Ridge area.
In anticipation of the full operations of the Mine, the project will provide significant level of employment for local people, development of local businesses; contribute to government revenue through taxes and improved balance of payments through foreign exchange earnings. Further, this will also have a multiplier effect on the rest of the economy.
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