Solomon Islands Government commended for Support towards Gold Ridge Mining Limited

 THE GRML Deputy General Manager, Mr. Allen Wang has  thanked the Solomon Islands Government for its support towards Gold Ridge Mining Limited, the Solomon Star reports.  

Mr. Wang was speaking during a brief but significant ceremony at the signing of the Memorandum of Understanding relating to Taxation matters affecting Gold Ridge Mining Limited. 

Overview of Gold Ridge Mine Plant Site
Overview of Gold Ridge Mine Plant Site. Photo by Solomon Star

In his address Mr. Wang thanked the Government for the support it has rendered for his company and investors. 

“On behalf of the GRML and the investors, I would like to thank you for your support. Since Wanguo International Group Chairman Mr. Gao came into the country in late 2016 to do due diligence, it was not easy. It took a few years to complete the steps. 

“The Gold Ridge Mine project has some failed histories. Investors have a lot of questions about why this project failed before and like to understand the issues. That’s the reason we spend a lot of time trying to do due diligence from the technical front, legal side of things as well as social side of things, including landowner agreements”, Wang said.

He said GRML has completed a feasibility study which was then approved by the Mines and Minerals Board of the Mines, Energy and Rural Electrification.

“The two new processing methods recommended by the Feasibility study were approved by SIG last year, and now with this MOU, it really gives us confidence for this project to go ahead. 

But Mr. Wang also highlighted challenges about the cost of doing business in the country. 

“The cost of doing business in this country is relatively high compared to other countries in the region. For example, electricity, energy cost is very high”, Wang said.

But despite of the challenges, Mr. Wang said his company really want to set a good example for mineral development in this country. 

“So, we really want to set up a good example for other mineral developments to follow but without SIG support we cannot just do everything by ourselves. so, we thank you again for all the support given to us, and hope that this support will continue. 

“I personally feel very proud about this project and I’m hoping that through this partnership, together we can make Gold Ridge Mine, a successful pilot project for the country. Hopefully through the successful development of this project, we will also signal to overseas investors that a proper mine can be developed here. Once they have the confidence they will come to invest here. 

“As a genuine mining company investing in this country, we want to see more reputable investors, large mining companies coming and actually develop your resources. So that’s our vision”, he said. 

Mr. Wang finally thanked the Solomon Islands Government for giving them the opportunity to come and invest here and work with landowners, SIG and other important stakeholders to develop the Gold Ridge Mine. 

“So, I believe through this strong partnership we will be able to deliver the benefits that we are all looking forward to”, Wang concluded. 

Solomon Star / Pacific Mining Watch

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