HTML _ 96-693 - New World Gold Mine Near Yellowstone: A Project Abandoned
27-Aug-1996; Marc Humphries; 2 p.

Abstract: Crown Butte Resources, Ltd. wanted to develop its New World gold mine deposit located near Yellowstone National Park. The proposed mine was located almost entirely on private property about 3 miles east of the northeast corner of Yellowstone National Park and next to the Absaroka-Beartooth Wilderness area. Pressure was applied at the state, federal and even international level to stop the project. On August 12, 1996, Crown Butte decided to cancel the project and enter into a ¨property exchange¨ agreement with the federal government. This report provides some background and details of the agreement by which Crown Butte will abandon the project and turn the property over to the federal government, in return for land which the company can sell to recover the investment made so far in the project. [read report]

Topics: Mining

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