Arrow-right Camera

The Spokesman-Review Newspaper The Spokesman-Review

Tuesday, November 19, 2019  Spokane, Washington  Est. May 19, 1883
Cloudy 44° Cloudy
News >  Nation/World

Echo Bay Postpones Decision On 2 Mines

By From Staff And Wire Reports

Echo Bay Mines, Ltd. of Englewood, Colo. said Tuesday that its board of directors would wait until gold prices increase before deciding on the final construction decisions of two gold mines in North America.

Echo Bay operates the Kettle River project in Republic, Wash.

The company said it would hold off on construction decisions for Mexican gold mine Paredones Amarillos and its Canadian gold mine, Aqaurius.

If the decision is deferred until next year, the company would save $49 million in capital expenses, Echo Bay said. The company originally planned to spend $114 million for the two new mines.

The spot price for gold Tuesday on the New York Comex was $323.00, up $1.90 for the day.

, DataTimes

Subscribe to the Morning Review newsletter

Get the day’s top headlines delivered to your inbox every morning by subscribing to our newsletter.

You have been successfully subscribed!
There was a problem subscribing you to the newsletter. Double check your email and try again, or email webteam@spokesman.com