TITLE

A Rico renaissance?: Post-mining economy threatened by proposed moly mine

AUTHOR(S)
Durlin, Marty
PUB. DATE
February 2008
SOURCE
High Country News;2/18/2008, Vol. 40 Issue 3, p14
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article focuses on the decision made by the real estate developer, Rico Renaissance, to sell its 2,000 acres of land to a Canadian mining company in Rico, Colorado. The company, Bolero Resources, planned to extract 1.2 billion pounds of molybdenum from Silver Creek, the richest grade molybdenum deposit in North America. The announcement by Rico Renaissance came as a surprise for the townspeople, in which they plan to create a water treatment facility and sewer system with the company, as well as an agreement to prohibit mineral rights exploration. Most residents believe that mining could just bring the town down. The agreement for the $10 million sale was signed in November 2007, but was still pending due to the detachment of one of the Rico Renaissance partners.
ACCESSION #
31217252

 

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