Nov
10

DHEC Issues Last Permit Needed for SC Gold Mine

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Romarco Minerals has cleared its last regulatory hurdle in launching commercial operations at the Haile Gold Mine in Lancaster County. The Toronto-based company said the South Carolina Department of Environmental Control has issued it a mine operating permit from – the final major permit required for the project.

Before the state mining permit could be issued, Romarco needed a federal 404 wetlands permit. That permit was issued Oct. 27 by the U.S. Army Corps of Engineers and became effective immediately. The DHEC permit allows the Romarco’s Haile project to conduct mining, milling and reclamation activities at the project. Under the permit, DHEC requires controls for safety and environmental protection, with monitoring and reporting during operations.

Before the start of mining activities Romarco will provide a bond of approximately $30 million for reclaiming and restoring the land when mining ceases. The permit requires that additional security of approximately $30 million be provided over the life of the mine for a total financial security commitment of $60 million.

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