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Sumitomo Metal Mining (TYO:5713) has terminated its plan to explore for gold in Alaska, the Wall Street Journal reported.
Sumitomo Metal Mining (TYO:5713) has terminated its plan to explore for gold in Alaska, the Wall Street Journal reported.
As quoted in the market news:
In 2011, Sumitomo Metal Mining confirmed deposits of gold, silver and antimony in the Naosi zone of its Monte Cristo mine in Alaska. But the company has concluded the project is not economically viable, prompting the decision to discontinue exploration in the zone.
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