Business
Goldgroup Defers the Evaluation of the Environmental Impact Assessment (MIA) for its Caballo Blanco Mining Project in the State of Veracruz, Mexico
VANCOUVER, Sept. 17, 2012 /CNW/ - Goldgroup Mining Inc. ("Goldgroup" or the "Company") (TSX...
About this update from Goldgroup Mining Inc.
[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, Sept. 17, 2012 /CNW/ - Goldgroup Mining Inc. (\"Goldgroup\" or\n the \"Company\") (TSX:GGA),  on September 14, 2012 deferred the\n evaluation of the Environmental Impact Assessment (MIA) for its Caballo\n Blanco mining project in the State of Veracruz by the Mexican Ministry\n of Environment (SEMARNAT).\n\n\nMexico is going through a change in Federal Government and Goldgroup\n recognizes the importance of working with the transitioning team and\n the new authorities to integrate their requirements for the development\n of the Caballo Blanco project.\n\n\nPresident elect, Mr. Enrique Peña Nieto, has made public his interest to\n promote investment and enhance the development in the mining sector,\n with strict compliance to the laws and regulations, with a strong\n commitment to sustainability and the environment.\n\n\nDeferring the evaluation and approval process of the MIA complies with\n Goldgroup's objective of working further with the relevant authorities\n to ensure that the project is able to realize its social, community,\n environmental and business objectives.\n\n\nCaballo Blanco is committed to developing a sustainable mining and\n sociably responsible project, through the integration of the views of\n all stakeholders, while utilizing the most innovative and resourceful\n solutions to directly benefit the local communities and the State of\n Veracruz.\n\n\nAbout Goldgroup\n\n\nGoldgroup is a well-funded Canadian-based gold production, development,\n and exploration Company with significant upside in a portfolio of\n projects in Mexico, including its flagship 100%-owned advanced stage\n gold development project Caballo Blanco in the state of Veracruz, and a\n 50% interest in DynaResource de Mexico, S.A. de C.V., which owns 100%\n of the high-grade gold exploration project, San José de Gracia located\n in the state of Sinaloa. The Company also operates its 100%-owned Cerro\n Colorado gold mine in the state of Sonora.\n\n\nGoldgroup remains in a flexible financial position with a strong cash\n balance, no debt and no gold hedging. The Company is led by a team of\n highly successful and seasoned individuals with extensive expertise in\n mine development, corporate finance, and exploration in Mexico.\n Goldgroup's mission is to increase gold production, mineral resources,\n profitabil...