ALOMAS gets environmental permit on Yongxing project
According to the Chairman and CEO of Alomas Mining Mr. Hong Chee Shen this permit will bring a great impact on the whole Asian silver market as well as Chinese silver mining.
- (1888PressRelease) June 26, 2012 - Alomas Mining is pleased to provide an update on its ongoing Yongxing project in China. Alomas Mining started mining at Yongxing in late 2010 and it was able to rise the silver mining percentage to 2.5% which is still a record. In late 2011 it raised a little question among the environmentalists about environmental balance in that region. Recently after a proper research and investigation, a team of geologists and environmentalists permitted mining in those regions. This is a positive development for the project as it is the company's intention to achieve a certain goal within 2013. Detailed engineering and mining work continues on the project and is on schedule for the company's production target timeline.
According to the Chairman and CEO of Alomas Mining Mr. Hong Chee Shen this permit will bring a great impact on the whole Asian silver market as well as Chinese silver mining. China remains as the third largest silver producers in the past year with an output of 99.2 million ounces. Alomas Mining believes that Yongxing project has a vast potential as it is called "China's Silver Capital". Alomas also says that granting of these permits will provide them with the ability to meet certain targets.
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