A valuable gold deposit worth an estimated $2 billion has been discovered at New Zealand’s Snowy River Mine.
The mine, located near Ikamatua on the West Coast, has revealed a substantial amount of quartz reef containing gold at depths of approximately 850 meters. This discovery marks the first time gold has been found at the Snowy River Mine, following the historically rich nearby Blackwater Mine.
It is estimated that the site may hold around 700,000 ounces of gold, equating to a value of $2.1 billion.
The timing of the discovery is favorable, as gold prices are currently at a historically high level of over $3,000 per ounce.
The significant find has attracted skilled workers to the area, and plans are underway to establish a processing plant on-site. Federation Mining, a major employer on the West Coast, has invested approximately $70 million in the project. Currently, the mine employs 60 workers, with plans to expand to 150 employees within the next year. The Snowy River Mine is projected to produce around 70,000 ounces of gold annually, ensuring a prosperous future for the site.
very interesting
I loved reading it because, I never knew that maybe chocolate might be gone in the future!
save the chocolate…
I enjoyed this reading because
it show what climate changes does!!
they might have to move most chocolate into a colder place, since the climate clock is getting low
so temperature might get higher.
i love chocolate
I’m allergic to dairy, but this makes me sad for my best friends all around NZ (don’t think it’s weird because I actually do). And my chocolate loving cousin, her name is Dana (I’m from South Korea and she told me how to spell her name in Korean but its not pronounced like Dana).
I know that there are chocolate lovers around the world so, poor them or if you like chocolate poor you (even though I’m allergic to dairy, or to make it easy dairy products: cheese, milk, butter etc).