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Colombia Says Greystar’s Planned Mine Lacked ‘Viability’

Colombia planned to reject Greystar Resources Ltd.’s proposed $1 billion gold and silver mine, which lacked “viability” because of environmental concerns, said Mines and Energy Minister Carlos Rodado.

The company said today in a statement it will meet with regulators next week to discuss “alternative options.” Vancouver-based Greystar withdrew its permit applications yesterday for the Angostura deposit in northeastern Colombia, according to Rodado.