Soltera Mining Corp. (OTCPK: SLTA) reports agreement with Goldlake Group, a world leader in the production of natural/ethical gold
July 19, 2010 " (Investorideas.com mining stocks newswire) and its leading mining investor portals, reports on developments in the mining sector and the growing demand for "ethical gold".
With the oil and gas industry hit hard by the BP oil spill, the biggest environmental disaster in history, the mining sector is also facing pressure to meet environmental and ethical standards and a new breed of mining companies may emerge. Ethical gold is now becoming a new buzz phrase- and investors can expect to hear more about it.
Frequent contributor to Investorideas.com and other financial sites, Jon Nadler, Senior Analyst at Kitco Metals Inc. () recently wrote about ethical gold mining in his July 14th column, "The Other Price of Gold". Jon reports ""No Blood Diamonds" is a slogan for the times. Perhaps "No Dirty Gold" should have an equal billing, five years after the establishment of the organization bearing the same name. After all, how many gold buyers are aware that a single wedding ring's production entails the generation of 20 tonnes (that's 44,000 lbs.) of waste?"Full column: /news/mining/7141.asp
Soltera Mining Corp. (OTCPK: SLTA) is company that is shifting with the ethical gold trend and has recently announced key developments. Dr. Fabio Montanari, President and CEO of Soltera Mining announced June 23rd that Soltera signed an agreement with Goldlake Group, a world leader in the production of natural/ethical gold from alluvial deposits in Honduras, Central America. The first objective of the agreement is to develop eluvial gold production from the El Torno property in northern Argentina.This agreement has strategic value for both companies because on the one hand, it enables Soltera Mining to continue pursuing its goals of exploring and developing its flagship gold project El Torno through partnership with a mining entity with a solid reputation and, on the other hand, it allows the Goldlake Group to develop a new project concerned with the production of natural/ethical gold in line with the agreement to supply Cartier that has been active for one year.
Full news: /CO/SLTA/news/6231.asp
June 23rd mining giant GOLDCORP INC. (TSX:G )(NYSE:GG) was in the midst of controversy as the Inter-American Commission for Human Rights, known as CIDH filed complaints and demanded the Guatemalan government suspend operations at Goldcorp Inc's Marlin mine due to environmental and human rights violations. "They have to suspend operations," Fernando Barillas, an adviser to Guatemalan President Alvaro Colom stated.
The company responded on June 30th with, " GOLDCORP INC. (TSX:G)(NYSE:GG -) today presented its initial response to the recently completed independent human rights assessment (HRA) prepared by On Common Ground Consultants Inc. The report is the result of an eighteen month assessment of how the Marlin mine which is operated by Montana Exploradora de Guatemala, a wholly-owned subsidiary of Goldcorp, has affected human rights, and whether the Company has in place and is implementing effectively policies and procedures to mitigate the risks of potential conflicts with international human rights standards. "
Investorideas.com will be reporting on ethical gold and mining developments in a series of ongoing articles to bring the matter to the attention of interested investors in the sector.
About Soltera Mining Corp. (OTCPK: SLTA FRANKFURT: SN7):Soltera Mining Corp. is a unique exploration company in the sense that it is following two distinct lines of action. The first is conventional, with exploration concentrated on two carefully selected gold and base metal projects in Argentina, particularly the large-scale El Torno gold project in Jujuy. The second, less conventional action is to finance immediate small-scale gold production from a specific section of the 14 km gold-quartz vein at El Torno.
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