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Gold mine takeover

Wednesday, 15th November, 2017

Consolidated Mining and Civil (CMC) managing director Steve Radford pictured in 2015 with some of the machinery that was destined for the Portia gold mine that his company will take full control of tomorrow.PICTURE: Gavin Schmidt Consolidated Mining and Civil (CMC) managing director Steve Radford pictured in 2015 with some of the machinery that was destined for the Portia gold mine that his company will take full control of tomorrow.PICTURE: Gavin Schmidt

By Andrew Robertson

Havilah Resources is to give full control of the Portia gold mine to partner Consolidated Mining and Civil (CMC), which says it could prolong the life of the operation.

The two companies have reached agreement to restructure the mining and processing agreement that was struck in 2015, which saw them join forces to develop the small open pit mine in South Australia.

Havilah says the change, which will take effect tomorrow, would allow it to focus on progressing other projects in its pipeline, including the nearby Kalkaroo copper-gold deposit.

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