Greystar Plans Colombia Mine Investment

Greystar Resources could invest up to $600m in getting the Colombian Angostura gold and silver mine into production, president David Rovig tells LatinFinance. Rovig says the company has already invested $100m in the project and is now conducting a feasibility study that should be ready in September. Once the study is done, Rovig expects to spend an initial $250m on Angostura. Greystar has not yet secured financing for the project, says Rovig, but it is considering some options such as financing from multilateral banks or bringing in a large joint-venture partner. The company has about $30m of cash on hand.