In an effort to accelerate the permitting process at its Crown Jewel gold project, Battle Mountain Gold (NYSE) has signed a scheduling agreement with the state of Washington.
Mine construction is expected to begin in early 1997 as a result of the agreement, which is the first such deal between regulatory agencies and private enterprise under the state’s new Permit Co-ordination Act.
The Crown Jewel permit is contingent upon completion of an environmental impact statement, which is expected in October.
The deposit, situated in northeastern Washington, contains 1.7 million oz.
gold. Battle Mountain is earning a 54% interest from Denver-based Crown Resources (TSE) by funding the project’s capital costs. Crown owns the remaining 46%.
In other news, Battle Mountain expects first-quarter operating costs to average US$240 per oz. The higher-than-expected costs are the result of several factors, including the replacement of bearings at Colorado’s San Luis mill, lower head grade at the Kori Kollo gold mine in Bolivia, and increased costs at Australia’s Cindy gold mine.
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