It is reported that eleven years may not be a long time in the mining business, but Halifax based Erdene Resource Development Corp is still happy to finally realize a return on its investment in a granite project in the American Deep South.

Erdene reported that its partner, Aggregates USA LLC had started commercial production at the Granite Hill construction aggregate property in central Georgia. Consequently, Erdene received its first royalty USD 165,000 on the project from its operating partner.

Mr Peter Akerley Erdene president and CEO said “Any time you can begin to establish cash flow on a project like this is a big day for a company.”

His company has been involved in the Granite Hill project since 2001, when a firm called Kaoclay Inc which was eventually purchased by Erdene, struck a deal with Rinker Minerals a predecessor company to Aggregates USA.

Erdene owns the 138-hectare property and has given its partner the right to mine process and sell the aggregate which is targeted for the United States construction industry.

(Sourced from thechronicleherald.ca)