Source link The small Scottish village of Tyndrum, located in the countryside of the Loch Lomond and The Trossachs National Park, will soon become an epicenter for the mining industry in Scotland. Scotgold Resources, the company that owns the area’s only gold mine, have revealed plans to ramp up operations at the Cononish mine.
The mine, located near Ben Lui mountain, has been operating on and off since 1985. However, until recently, it was limited to extracting barite, an industrial mineral used in the oil drilling industry. Until this point, the investment group had struggled to capitalize on its gold-extraction potential. Global gold prices have now caused a shift in focus, leading to the recent announcement that Scotgold is going ahead with their plans.
Over the course of the next twelve months, the company plans to establish processing facilities adjacent to the existing Cononish mine. In addition to this, a new shaft system is to be built to provide easy access for staff and equipment.
The move to increase extraction of gold at the Cononish mine is not only a big moment for Scotgold but for Scotland as a whole. If successful, the mine could potentially increase the country’s gold production by around 10%, providing a boost to the nation’s economy.
The project is set to create around 100 new jobs in Tyndrum, with opportunities for local people to work in various areas within the mines. This could potentially have a positive effect on the village, providing an influx of jobs and an increase in revenue.
It remains to be seen whether the project will prove successful, and Scotgold is keen to manage expectations of the operation. However, the news will be welcomed by locals hoping for a boost to their economy through gold extraction in their hometown.
