Thursday, 25th September 2008 (421 views)

An Australian mayor has praised the work of a mining company after it was revealed that a gold project would unexpectedly be able to stay open for an extra three years.

Bryan Small, the mayor of Northern Grampians in the state of Victoria, has expressed his delight at the additional work being provided for the locals by the Stawell gold mine, the ABC website reported.

"It is a very prolific industry, it's an industry that provides the town with a lot of money and it's really important to us," he remarked.

Northgate Minerals had previously thought that the mine's reserves would be exhausted over the next 12 months, but several new gold deposits have been found after a $7 million (£3.16 million) exploration programme.

In July of this year, fellow Australian mining company Oxiana announced it was changing its name to OZ Minerals.

The firm recently revealed that gold resources had increased at its Prominent Hill project.

 

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