SOLOMON ISLANDS EARNS OVER US$ 3.1 MILLION FROM GOLD MINING

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HONIARA, Solomon Islands (July 22, 1999 – PACNEWS/SIBC)---The Solomon Islands earned more than SI$ 15.5 million (US$ 3.1 million) from gold mining operations which began on Guadalcanal Islands last year.

National broadcaster SIBC reported that the funds were earned through taxes, duties, permits, royalties and local salaries.

The quarterly report of the Australian-owned Gold Ridge Mining company showed that nearly SI$ 6 million was paid out by the company during the first three months of this year.

The report said since July last year more than 73,000 ounces of gold and nearly 66,000 tons of silver had been produced.

The mining company said royalties to the Guadalcanal Provincial Government and landowners amounted to more than SI$ 1.5 million.

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