Scotland business

Gold mining company Scotgold Resources reports loss

Cononish gold mine
Image caption The gold mine was previously abandoned in 1997

Scotgold Resources, the company which plans to redevelop a gold mine near Tyndrum, has almost doubled its losses.

The firm made a pre-tax loss of more than £650,000 in the last year.

The company was refused permission to redevelop the mine in the Loch Lomond and Trossachs National Park because of environmental concerns.

Scotgold said it was committed to exploration in other areas outside the park and that it was likely to appeal against the planning decision.

The mining company's Australian parent group has invested millions of dollars in the venture.

Scotgold Resources had been hoping to begin working soon at the the Cononish Mine, near Tyndrum, which was abandoned in 1997.

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