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Metalon Georgia sells its goldfield shares to Dutch company

Business Materials 11 January 2010 18:19 (UTC +04:00)

Georgia, Tbilisi, Jan.11 / Trend , N.Kirtskhalia /

South-African-British company Metalon Georgia, an operator of Merisi goldfield in Adzharia, sold its 70-percent stake to Dutch company for one million euro.

Two years ago Metalon Georgia leased Merisi goldfield for $800,000 for 40 years.

So far, reconnaissance operations have been completed in one of seven areas.

The Dutch company intends to place investments to continue exploration.

A license which was issued to Metalon Georgia in 2007 gives a right to produce 74,800 tons of copper, 15,000 tons of lead, 11,000 tons of zinc, 652 kilograms of gold and 15.1 tons of silver. 

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