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June 11, 2015

Galantas Gold gets planning consent for underground gold mine expansion in Northern Ireland

Northern Ireland's Minister of Environment has granted planning consent for expansion of Galantas Gold's underground gold mine at the Omagh site.

Northern Ireland’s Minister of Environment has granted planning consent for expansion of Galantas Gold’s underground gold mine at the Omagh site.

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As ore mines ramp up and come on stream, the total number of active surface machines (including trucks, excavators, shovels, loaders, graders and dozers) is forecast to rise from 141,470 in 2020 to 167,367 by 2025. This will be a CAGR of 3.4% from 2020 to 2025. The largest contributor to this growth is expected to be trucks, particularly smaller-sized trucks with shorter lifespans, used extensively in parts of Asia Pacific. Underground mining equipment is similarly expected to see a CAGR of 2.3% in this same time frame, with the number of mining trucks and loaders/LHDs in active underground mines expected to rise to 19,853 by 2025. GlobalData’s extensive mine-site research and equipment models have been used to build a complete view of mobile mining equipment populations globally for trucks, loaders, graders, dozers, excavators and shovels. This report includes informative breakdowns by each major region and key mining country, and also by major commodity. Read GlobalData’s Global Surface and Underground Mining Equipment: Populations & Forecast to 2025 for a complete view of the market, allowing you to best position yourself for the future.
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The consent includes operating and environmental conditions, which will clear way for the company to expand activities at the mine, which is currently under suspension.

Galantas Gold plans to extend underground mining at the existing site to a depth 350m and length of 600m.

The company will ensure progressive restoration of the above ground site, in order to protect and enhance landscape and habitat.

"The proposed operation by Omagh Minerals should help create numerous jobs and secure existing ones at the site."

According to the company, recent economic study found good results at the Omagh gold mine that is expected to create hundreds of local jobs and provide a boost to Northern Ireland’s economy.

Galantas Gold said that the decision came after three years of environmental examinations and other factors regarding the application.

As part of the examination, the Northern Ireland Environment Agency (NIEA) and independent specialists conducted environmental studies at the property, which has many un-drilled targets.

Galantas Gold president and CEO Roland Phelps said: "This is a significant milestone and a gamechanger for Galantas. Our open pit gold mine, operated until recently, is the only one in Ireland.

"It had excellent environmental standards, monitored with detailed studies by NIEA and used a safe processing methodology to produce a smelter concentrate."

Once the required finance is in place, the company aims to establish the underground mine and plans to further expand gold resources on the property.

Northern Ireland Environment Minister Mark H Durkan said: "This is a real boost in terms of jobs and investment for the Omagh area.

"The proposed operation by Omagh Minerals should help create numerous jobs and secure existing ones at the site. These and the wider benefits the development will bring will help the local economy."

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Dig deeper with our mining equipment forecasts

As ore mines ramp up and come on stream, the total number of active surface machines (including trucks, excavators, shovels, loaders, graders and dozers) is forecast to rise from 141,470 in 2020 to 167,367 by 2025. This will be a CAGR of 3.4% from 2020 to 2025. The largest contributor to this growth is expected to be trucks, particularly smaller-sized trucks with shorter lifespans, used extensively in parts of Asia Pacific. Underground mining equipment is similarly expected to see a CAGR of 2.3% in this same time frame, with the number of mining trucks and loaders/LHDs in active underground mines expected to rise to 19,853 by 2025. GlobalData’s extensive mine-site research and equipment models have been used to build a complete view of mobile mining equipment populations globally for trucks, loaders, graders, dozers, excavators and shovels. This report includes informative breakdowns by each major region and key mining country, and also by major commodity. Read GlobalData’s Global Surface and Underground Mining Equipment: Populations & Forecast to 2025 for a complete view of the market, allowing you to best position yourself for the future.
by GlobalData
Enter your details here to receive your free Report.

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