Gold in the Negev?

December 10, 2007

Salfinger said drilling in the area could start as early as December. But the project could face many hurdles before coming to life. The digs are due to be conducted on a nature reserve, which is off-limits to the machinery required for the project. The digging venture could see costs running into millions of dollars.

KiTov currently has an exploration license for an area of 27 square miles [70 square kilometers], and officials at the Infrastructure Ministry say the company will have to present a detailed financial plan and apply for a digging license. In the 1980s, a gold mine set up north of Eilat by a government-owned company survived a few months and was eventually shut down. Its short lifespan prevented researchers from determining whether a gold mine in the area was financially viable.

Excerpts of an article by Amit Sharvit,
www.ynetnews.com