Greystar Environmental Study Ongoing Says Columbia

2 June 2010 (Last Updated June 2nd, 2010 18:30)

Colombia has yet to decide on an environmental impact study for a gold project operated by Greystar Resources near a delicate Andean ecosystem, the government has announced. The environment ministry said the government continues to analyse the information granted in the environmental im

Colombia has yet to decide on an environmental impact study for a gold project operated by Greystar Resources near a delicate Andean ecosystem, the government has announced.

The environment ministry said the government continues to analyse the information granted in the environmental impact study for the Angosutra project, reports Reuters.

Columbia has previously asked the miner to resubmit the environment impact study after a new law forbidding mining in an ecosystem was enforced.

But the company appealed against the order arguing the law was enforced after the study was submitted to the government.

The government said it warned the company that part of Angostura's leaching zones were located on paramo ecosystems before the new mining law was implemented.

Greystar Resources said it expects to complete a definitive feasibility study of the project in October.

The Angosutra project has 10.2 million ounces of gold reserves and 74 million ounces of silver reserves, according to preliminary feasibility studies.