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Thursday, 16th December 2004 (6498 views)

Newmont Mining has held a special event this week to mark the beginning of construction for its Phoenix Project.<br/><br/>At present Newmont has six million ounces of gold reserves but this will be updated at the end of the year based on new exploration, according to Elko Daily.<br/><br/>Newmont's chairman and chief executive officer, Wayne Murdy, said: "We're cleaning up historic mining and starting new mining. It's a very positive thing. And they tell me the ounces are growing."<br/><br/>The mining company will clear up the remnants of old mining in the are and use modern day technology to boost gold reserves.<br/><br/>Around 60 people visited the site to attend the event.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=7336483"/>

 

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