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NSW ruby mine on hold


By Rajesh Kumar, Section Gems News
Posted on Mon Apr 09, 2007 at 09:27:30 PM EST

The company behind a ruby mine in the Barrington Tops, inland from Newcastle, says the operation will resume once it finds a new business partner and its expansion plans are approved.

Cluff Resources halted mining last month after its financial backer, Consolidated Press Holdings Limited, withdrew from an agreement to buy and market gems from the site.

Director of Cluff Resources Scott Enderby says the company has permission to continue mining on the site but first needs to ensure its viability.

"Firstly the application which we have got for a modification and development consent, we have still got the option to take that a bit further so that is an option," he said.

"Obviously we need to clarify our position with regard to continuing the mining and possibly getting some more ground which will enable us to keep mining with more efficiency.

"And also we are looking at signing up some new partners to market the gem stones we are mining," Mr Enderby said.

http://www.abc.net.au/news/newsitems/200704/s1893125.htm
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