Otter ends Tanami mining

The company says it has given notice to the mining contractor, Roche Mining, to finish operating at the end of the month, although milling of ore stockpiles is expected to continue until the end of September.

Around 12 site staff will be made redundant.

Otter Gold owns 60% of the Tanami Mine with the rest held by its partner in the operation, AngloGold.

Negotiations with another mining operator, Normandy NFM, to lease the treatment plant at the Tanami site to treat ore from a neighbouring deposit. Normandy NFM is majority owned by Australia's biggest gold miner Normandy Mining.

In its quarterly operations report in April Otter said that gold production at Tanami for the period was below expectations at around 27,000 ounces due to very wet weather.

Last week Otter announced that Guinness Peat executive, Mike Jeffries, had been appointed acting chief executive following the resignation of MD Patrick Scott.

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