Site construction is set to begin Thursday for a long abandoned gold and silver mine that is being rejuvenated and returned to production in northwest Arizona. The Golden Vertex Corp. Moss Mine is located about 7 miles east of Bullhead City.
A $20-million loan secured in early November pushes project investment and loan financing beyond $35.8 million, while an initial outlay of at least $33-million was required to moved forward with development, according to Ken Berry, company President and CEO.
“We are now ideally positioned to capitalize on the robust economics the Moss Mine offers as we begin the transition into a fully operating gold-silver entity,” Berry said in a November 7 announcement.
“Construction is estimated to last about 12 months or so and operations will start toward the end of that period,” said Chief Information Officer Lisa McCabe. She said employment will peak at about 100 positions during construction and that operations will require a full time workforce of about 80 people.
The company’s request for a key permit from the Arizona Department of Environmental Quality is scheduled for public hearing at 6:00 p.m. on December 16, in the Bullhead City Council chambers.
Project Director Joe Bardswich said the property is named after an Army Captain who, along with his soldiers, pulled about 12,000 ounces of gold from the mine about 150 years ago.