St Barbara Limited (ASX: SBM) – $0.079 (-1.25%)
02 Dec 2014
Gold Ridge Mining Limited, a wholly owned subsidiary of St Barbara Limited, has not received approval from the Solomon Islands Government to undertake a controlled release of water from the Gold Ridge Tailings Storage Facility by pumping directly into the Tinahulu River.
This action is now urgently required to prevent the risk of water overflowing the spillway during the current high rainfall season.
It is the Government’s responsibility to assess and approve the company’s dewatering plan and to directly undertake the required community consultation. The Government must also provide adequate security to ensure pumping equipment is not again vandalised and that personnel are not attacked.
Since the absence to date of any Government approval for dewatering, the company has been left with no alternative but to post warnings to local communities alerting to the risk of water overflow from the Gold Ridge Tailings Storage Facility during the wet season.
The company continues to seek the necessary approval from the Solomon Islands Government.
For further information, visit www.stbarbara.com.au
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