Teck back at Pogo

An agreement with the Northern Alaska Environmental Center (NAEC) has allowed construction to resume at Teck Cominco‘s (TEK-T) Pogo gold project, 145 km southeast of Fairbanks.

The NAEC has withdrawn its petition for a review of the project’s National Pollutant Discharge Elimination System, previously issued by the Environmental Protection Agency. The change of heart came after Teck agreed to take protective measures to ensure the health of the Goodpaster River drainage, NAEC says in a press release.

NAEC says Teck has agreed to create a citizens’ advisory group to review the project and evaluate a monitoring system on the Goodpaster River. Teck has also agreed to fund a fish study on the river.

NAEC’s petition had halted pre-construction activities, including road building, and cast in doubt planned concrete work for the mill complex, which is now set to begin this spring. Teck has budgeted $75 million for development in 2004, most of which is earmarked for Pogo. The company expects to spend $100 million over two years, from 2004 to 2005.

Teck had earlier warned that the appeal could result in a delay of up to a year, in which case it would lay off hundreds of construction workers. Still, the company said the two sides were trying to work out a solution.

Probable reserves at Pogo total 7 million tonnes grading 16.1 grams gold per tonne, based on a gold price of US$300 per oz. Indicated resources are 770,000 tonnes at 8.9 grams gold, with inferred resources tipping the scales at 1.2 million tonnes of 16.9 grams gold, based on a US$400-per-oz. gold price.

The mine, about 40 miles northeast of Delta Junction, is expected to produce an average of 400,000 oz. gold per year over 10 years. The first gold pour is slated for late 2005.

Teck is earning a 40% interest in Pogo and is the operator. Subsidiaries of Sumitomo Metal Mining and Sumitomo Corp. own the remaining 60%.

Print

Be the first to comment on "Teck back at Pogo"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close