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Home News Newmont Mining to explore for copper and gold in Southeast Europe

Newmont Mining to explore for copper and gold in Southeast Europe

36 26.Jul.2022 KZ Editor

US-based Newmont has formed an exploration alliance with UK-based Ariana Resources; the latter has several gold mining rights in Europe, and the alliance is targeting the world's least-explored Region Southeast Europe is trying to find new gold and copper deposits.

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Newmont and Ariane Resources have formed an exploration partnership, which has aroused the interest of many mining companies in European countries. The purpose of the alliance is to focus on countries such as Bosnia, Herzegovina, Bulgaria, Greece, Kosovo, and Serbian in North Macedonia Exploring new copper and gold deposits, the newly formed exploration alliance has 75% of its specialized equipment from Western Tithian Resources, a division of Ariane Resources.

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A representative of Newmont Mining Company said that Southeast Europe is one of the regions with the least investment in exploration and the most promising prospect in the world. Spokesman Mentor Demi said, "With our extensive experience in the region and Newmont's vast exploration capabilities, database building capabilities and exploration technology, we are confident that new copper and gold deposits will be successfully discovered.

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According to information provided by the company, Newmont invested $2.5 million in Ariane to fund exploration activities and use the mining company's regional database where possible.

The alliance between Newmont, Ariane and Citetis Resources is expected to have an initial term of five years, which can be extended at the request of the parties: As a way of repaying Newmont's new investment, the company has retained access to a Option of equity capital of Liana Resources Corporation.

Kareem Sener, manager of Ariane, said enthusiastically: "We are delighted to explore new large-scale gold-copper deposits in South East Europe through the collaboration between Citethys Resources and Newmont. . This area was explored in the 1980s and 1990s by various companies that were later acquired by Newmont Mining, such as Normandy Mining. Therefore, this exploration The alliance will benefit from the significant historical mining data previously collected by Newmont, which will allow us to conduct a comprehensive exploration campaign in the area, and Newmont will provide its expertise and knowledge to the exploration campaign, Including the potential to deploy diverse expertise."


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