The company is a corporation sole purpose for this purpose is the
development of the project Boleo, Baja California Sur, Mexico. El Boleo
is an historic mine in Mexico and the project's website has several new
locations of the mine, including the
gaia online gold, underground portals,
Schatt and open. There are also remains of an old plant leaching
rainfall (Fig. LPF), where the Mexican Mining Agency Fomento Minero
tries to use a process of acid leaching in the 1950s and early 1960s,
with copper again. Furthermore, there is a (small 2 million tons) of
tailings dam from the factory, the LPF and the skeleton of the original
facility, built in 1920 for execution by the Company ores French Boleo
process. None of the plants LPF, LPF residue dam or casting is first in
the country belong or by society or the company must be checked no
liability or environmental liability relating to these pages.
The majority of the project is located in the buffer zone of El
Vizcaino and in note 7 discusses the Companys audited fiscal 2007
year-end financial statements, the company has a compensation
arrangement with the Mexican Commission for Protected Areas El
Vizcaino, under which it has deposited U.S. $ 100 000 in compensation
funds, and three exceptional Warrata to $ 1US.1 U.S. dollars partially
finance the rehabilitation works in Vizcaino. This fund can also in
other areas of the biosphere will be used and not necessarily where the
mine rehabilitation program as part of the restoration of normal mine.
Early work by the company prior to construction activities have
been cleaning up illegal dumping, which is already present (dump) used
by the city to both municipal waste and dispose of packaging waste from
factories, local squid. Restoration was done under the Companys
control, and cost, in cooperation with local and national authorities
and with the advice of environmental consultants Companys. A temporary
storage facility have been developed, up north to the construction of
more permanent facilities on the land of the premises of the company
and will be donated to the community. Cost of delivery to date have
been about 165,000, and is used as part of preliminary expenses, which
contain built.
The mine, mill and tailings facilities will be approximately 568
hectares of land in the first six years and more than 700 acres
disturbed during the first 25 points of the mine life. A mine closure
and reclamation plan was prepared and presented to SEMARNAT, the
Mexican Federal Environmental Agency. Rehabilitation of the total costs
and the closure costs over the life of the mine are currently estimated
at U.S. $ 35 million. No financial reserve was established in the
Companys financial statements of the workup. It is envisaged that the
sinking fund will be established once the production begins to provide
funds for the renovation.
The company, in the project Boleo, at the gates over 33 mines.
These portals are closed in accordance with mine plans, the range will
be solved. The cost of remedial measures for each portal are currently
estimated at U.S. $ 10, 000. Given the annual budget (provided once
full operation is carried out in the years 2010-2011) is about $ 100
U.S. dollars per year, the cost of rehabilitation is not viewed as
important. The annual cost of environmental monitoring are currently
around U.S. $ 12, 000 and as the beginning of a process will increase
to around 25us $ 000 € / year. Again, as regards the annual budget,
this figure is not regarded as important.
One concern potencial an unexpected event, like a dramatic
decline in metal prices, or technical failures of metallurgy process,
the early closure stark contrast to the idling of the mine required.
The expected cost of recovering from an early closure is estimated 10
million to
buy kinah aion, depending on the amount of surface
disturbance at the time and cost of the rehabilitation of the plant
site, the assumption that the decision was made to permanently close
the mine. Under these circumstances, it is expected that the residual
value of plant and equipment was sufficient to cover the cost of
rehabilitation if the company does not otherwise have funds available.