Heritage Minerals’ plan to revive abandoned Mount Morgan gold mine | ABC News

ABC News (Australia) published this video item, entitled “Heritage Minerals’ plan to revive abandoned Mount Morgan gold mine | ABC News” – below is their description.

An abandoned gold mine that was once one of the richest in the world could soon be revived, igniting hope from passionate locals who say their town is in desperate need of industry and opportunities.

A towering mine stack overlooks the now-quiet town of Mount Morgan as an effigy to the glory days.

In its heyday, the town’s gold mine spawned fortunes that founded BP and the Walter and Eliza Hall Institute of Medical Research. But since 1990 it has sat unused, contaminated with acid water, and has cost the taxpayer almost $2 million each year.

Four companies have tried and failed to revive the historic site over the years, including Carbine Resources in 2017.

“[It’s] beyond disheartening,” local business owner Kerrilyn Page said.

“My children are fifth generation, we’ve been here since they started digging gold out of the ground in 1882.

“It’s certainly played its role in Australian history, so it would be great to have that recognition and to see Mount Morgan shine in the way it should.”

ABC News (Australia) YouTube Channel

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About This Source - ABC News (Australia)

The video item below is from ABC News (Australia). ABC News is a public news service in Australia produced by the News and Current Affairs division of the Australian Broadcasting Corporation.

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In This Story: BP

BP plc (formerly The British Petroleum Company plc and BP Amoco plc) is a British multinational oil and gas company headquartered in London, England. It is one of the world’s seven oil and gas “supermajors”.

Stock tickers: (LSE: BP., FWB: BPE, NYSE: BP, FTSE 100 component (BP.))

BP’s origins date back to the founding of the Anglo-Persian Oil Company in 1908, established as a subsidiary of Burmah Oil Company to exploit oil discoveries in Iran. In 1935, it became the Anglo-Iranian Oil Company and in 1954, adopted the name British Petroleum.

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