BUSINESS BRIEFS

Canadian firm to renew gold mining

THE CANADIAN Tournigan Gold Corporation (TGC) plans to renew gold mining in the vicinity of the central Slovak town of Kremnica. Over the next three years, the Vancouver-based firm will decide, on the basis of geological research and the movement of world gold prices, whether to run a business in Kremnica.

TGC has acquired Kremnica Gold, owned by the Canadian company Argosy Mining Corp for about Sk14 million (€330,000). The deal has brought potential gold deposits with an estimated yield of over 1 million ounces of gold to TGC.

Head of Tournigan Hein Polus refused to specify how much money he would be willing to invest in Slovakia before the geologists evaluate the deposits.

Gold mining has a long tradition in the Kremnica region. Mining started here in 1300 and was maintained until 1971. The mining activities finally ceased in the 1990s.

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