August 4 - Romarco Provides Company Update (pdf)
July 21 - Romarco Drills Best Intercept Since Horseshoe - New Zone Mustang Returns 117 Meters Of 5.5 G/T Gold (pdf)
July 1 - Romarco To Advance Haile Gold Mine Project While Completing Environmental Impact Statement (pdf)
June 29 - Romarco Drills 115.3 Meters of 3.4 G/T Gold at Mill Zone and 47.2 Meters of 5.3 G/T Gold Between Snake and Horseshoe (pdf)
Located in Lancaster County, South Carolina, the historic Haile Gold Mine was one of the first operating gold mines in the United States. Established long before the gold rush of California, the mine was discovered in 1827 by Benjamin Haile and has been operated on and off for nearly 200 years.
Today, it is owned by Romarco Minerals, Inc., an exploration and development company focused on becoming a producer of precious metals in the United Sates, and is confirmed to contain 2 million ounces of gold reserves.
Working together with local communities and regulatory entities, Romarco Minerals and the Haile Gold Mine are driving economic growth in the region to an entirely new level while maximizing production and setting new standards for environmental protection.
Utilizing the most advanced technology and mining techniques, we are investing nearly $300 million to build the mine. More than 100 people from neighboring towns and communities, including Kershaw, Lancaster, and McBee, have already been put to work.
When construction begins, another 500 people will be employed to construct the modern facility. Through construction, 250 employees will be hired to operate the mine along with roughly 75 contractors. Click here to learn more about how many employees we've hired to date and how many we anticipate adding through 2012.
Working together, this team will implement a leading-edge strategy that allows gold to be extracted from 7,000 tons of ore per day. Before mining even begins, we will employ environmental policies and practices that go beyond regulatory requirements – and the standards of most mining companies – to preserve and restore wetlands damaged by previous mining operations. And we will invest millions more to reestablish wetlands and streams temporarily affected by current mining operations in addition to creating entirely new wetlands and other bodies of water.
On top of our commitment to the environment, we plan to spend more than $3 million per month locally through labor and the purchase of local goods and services. That astounding figure doesn't even account for the individual spending of our employees and contractors who will also make a range of purchases, from new homes and new cars to meals and gasoline.
All of this is expected to generate roughly $100 million annually in revenue in local counties, which will lead to new opportunities to improve support for schools, police departments, fire departments, and other key civic initiatives. Exploration will continue throughout the life of the mine, so new gold reserves may be discovered along the way, translating to even more revenue and more jobs for the area.
What's more is the region's potential to contribute on a global scale. By rebuilding the mine, our community will support important, ongoing research in new breakthrough applications of gold and gold particles in treating medical conditions, purifying the air and water, and creating more efficient energy resources. Even in the creation of cell phones, gold is used in the circuitry.
But throughout the production and exploration of the Haile Gold Mine, our commitment to the safety of our employees, the environment, and the local community will remain the same. We will maintain the longstanding tradition of Romarco Minerals to make a positive contribution in ways outside of the mine's operational activities – from supporting academic programs and humanitarian efforts to funding important civic initiatives. And we will always leverage a strategy that maximizes mining potential and continuously ensures safe, eco-friendly practices. It's a golden future both for the Haile Gold Mine and for the surrounding communities.