Tam's Tall Tales
- Perthshire Gold Rush
Cononish Glen Near Tyndrum, Perthshire
Australians to Establish Scotland's First Commercial Gold Mine
My geologist friends tell me that Scotland has a unique and important range of geological features. However, one does not really associate Scotland with being a gold producer.
But Scotgold Resources,an Australian owned mining company, is trying to establish Scotland's first commercial gold mine and has obtained planning permission (with restrictions) from Loch Lomond and The Trossachs National Park to commence work. The Cononish mine is located near Tyndrum in Perthshire. New estimates suggest that 248,0000 ounces of gold could be available, with a value of £200 million. The future viability of the mine will of course depend on the price of gold and silver. The graphic of a gold nugget is via Wikimedia Commons.
It is expected to employ 52 people and produce gold and silver over the next 10 years, thereby generating an estimated £80 million for the Scottish economy.
The mine was first excavated in the 1990s but never opened for business when the gold price dropped to £200 an ounce. With the gold price now at around £850 an ounce, the mine appears to be commercially viable.
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