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Gold Ridge Mine Re-opening Efforts – Solomon Islands *new*

The Government of Solomon Islands has requested advice from the Special Advisory Services Division (SASD) to assist with the re-opening of the Gold Ridge Mine.   This is a follow up to earlier technical assistance provided to the Government with the negotiation and conclusion of the agreements under which the Gold Ridge Mine was first launched.  The mine had subsequently been shut-down due to civil unrest. The re-opening of Gold Ridge is a key element in the Government's post-conflict strategy for restoring economic growth and making progress towards sustainable development and poverty reduction.

An undertaking to examine re-opening the mine was made in May 2005 by the Australian Solomon's Gold (ASG) consortium after a transfer of interests from the previous right holders.  SASD assistance is now linked to the submission of mine re-development, financing and environmental plans by ASG, which is due to take place in June 2006.

SASD, will provide advice on economic, financial, technical and legal aspects of the ASG proposals. The project is due to commence in April 2006 and will complete in June 2007.