Hoa Phat drafts mining of 10 tons of gold in Laos

Hoa Phat Mineral Co, an affiliate of HPG, has gained the permission of Lao Ministry of Energy and Mining on the result of exploring gold mine in Pac Lai, Xayabury in the north of Laos. Total reserve of gold after exploration is estimated at 10.5 tons.

Previously, the company had explored in details on a site of 2 square kilometers. Also the Lao government approved Hoa Phat to explore another area of 10 square meters to offer accurate reserve information and ore quality.

The exploration in Xayabury is expected to help HPG generate profits amid the increasing gold price. – Vietbiz24

Tags: gold mining

Posted by VBN on May 6 2011. Filed under Gold, Mining & Metal. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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