Energy & Mining International - Fall/Winter 2012 - (Page 206)

E M I ROMARCO MINERALS INC. FA L L / W I N T E R 2 0 1 2 Golden South Carolina New technology and rising gold prices are creating a new gold rush in the location of the United States’ first gold rush – South Carolina. Romarco Minerals is making headway with the Halie Mine project in South Carolina.. • South Carolina “It’s more fun to be a producer, but it’s not for the faint of heart.” // DIANE GARRETT, CEO and director [ BY RUSS GAGER ] The 49ers of California’s 1849 gold rush got all the publicity, but many of them actually came from an earlier gold rush in South Carolina that started in 1827. Now Romarco Minerals Inc. is pioneering a new gold rush in the Haile Mine, which is located within the Carolina slate belt that trends from Georgia to Virginia and has hosted many gold dePROFILE posits in five states. Romarco Minerals’ Haile Mine project will use newer, more environmentally friendly technology and take advantage of the many resources the area has to offer. “We will be processing through the crushing plant 7,000 tons of material a day, and that will yield an average of about 150,000 ounces of gold a year,” CEO and Director Diane Garrett de- clares. “Our costs to produce 1 ounce of gold are less than $400 an ounce. So we not only will be one of the lowest cost gold producers in the industry for open pit mining, but also have one of the lowest capital costs – $320 million – to build our facility. In addition, the Haile Mine will be one of the highest grade open pit mines in the industry, averaging 2.06 grams of gold per tonne.” The region’s infrastructure contributes to keeping costs low. “We have great infrastructure already,” Garrett emphasizes. “We are off a paved road. We have water, power and an outstanding skilled local workforce.” Several power companies in this area of South Carolina have both nuclear and hydro power available. “Power costs are fairly low in the area, and Romarco will be negotiating for competitive rates,” Garrett declares. Housing is readily available for workers within just a few miles of the mine. PERMIT PLEASE The Haile Mine project has been in the permitting phase for a year and a half. “We’re hoping to have that completed by late next summer 2013,” Garrett estimates. “It will take about 15 months to build the facility. Romarco Minerals Inc.. | Headquarters: Fort Mill, S.C. | Working capital: $12 million to $15 million a year; market capitalization $500 million | Employees: 115 | Specialty: Gold exploration and production 206

Table of Contents for the Digital Edition of Energy & Mining International - Fall/Winter 2012

Energy & Mining International - Fall/Winter 2012
Guiding Voice
Worldwide Presence
Digging South of the Border
Honoring the Best
The Williston Basin
Whiting Petroleum Corp.
Breitling Oil and Gas
HDC Development Cos.
Aspen Air U.S. Corp.
Synergy Resources Corp.
Advanced Engineering and Environmental Services Inc.
Enviro Shield Products Inc.
Savage Services
T&R Transport
Boyd and Sons Construction
Roers Construction Inc. – Roers West LLC
J. Koski Co.
Pat’s Offroad Inc.
Tollberg Homes
Wildcat Minerals
Environmental Materials Inc. and Warren Transport Inc.
Borsheim Crane Service Inc.
Central Machining and Pump Repair
Hive Built Homes – Hive Modular
Jericho Services
Kuntz Builders Inc.
MT Rigmat LLC
Steffes Corporation
Wells Concrete
Annabelle Homes - Bakken Shale
Oil Pipeline Blues
Canada Focus
Orbite Aluminae Inc.
New Millennium Corp.
Dynacorp Fabricators Inc.
PCL Contractors
Colter Energy Services Inc.
Zargon Oil and Gas Ltd.
Prodigy Gold Inc.
Rambler Metals and Mining PLC
Innovator Industrial Services
TWD Technologies
Veresen Inc.
Columbus Castings
Comstock Mining Inc.
MS Energy Services
White Star Pump Co.
Golden Queen Mining Co. Ltd.
Pershing Gold
Summit Casing Equipment
Black Hawk Energy Services
Timberline Drilling Inc.
Butch’s Rat Hole and Anchor Service Inc.
Calfrac Well Services
Geoprobe Systems®
Pacific Energy Development
Crocodile Gold Corp.
Gold Standard Ventures Corp.
GreenHunter Water LLC
Preferred Sands
Romarco Minerals Inc.
The Final Shot

Energy & Mining International - Fall/Winter 2012