Cyprus Business Now

Venus Minerals Managing Director Peter van der Borgh said that Cyprus has a ‘significant average gold content in a copper-rich area’ in Troodos.

“The results of the sampling from the remaining eight drillings in the area, which are expected soon, will further strengthen the assessment of the economic viability of the mineral resources for the whole Kokkinogia deposit (JORC estimate), with the inclusion of a significant amount of gold,” van der Borgh told local outlet InBusiness News.

“We are very optimistic about the forthcoming results and look forward to sharing them with the wider community in the context of the transparency that governs our business,” the Venus Minerals Managing Director added.

Van der Borgh also addressed the environmental concerns naturally attached to any potential mining activity, saying that modern drilling and mining techniques allow such activities to stay ‘fully aligned with 21st century standards’.

The Bank of Cyprus’ Real Estate Management Unit (REMU) made sales worth a total of €76 million in the first half of the year, the bank’s financial results have shown.

The figure for the equivalent time period in 2020 was €24 million. In terms of profitability from the aforementioned sales, this stands at €7 million in profit for 2021, up from €3 million in 2020.

According to the released figures, roughly half of the sales (54 per cent) involved the sale of properties, while the remaining sales involved real estate.

The Minister of Transport, Communications and Works Yiannis Karousos addressed farmers and the broader agriculture community during an event at Xyliatos.

“The Ministry of Transport, Communications and Works supports the rural communities in various ways and has set as a goal, through the various projects it carries out, to strengthen the socio-economic fabric of rural areas and promote business activity”, the minister said.

“The government’s policy is to support rural communities and to offer the means and opportunities to those who choose to stay or return to their home villages,” Karousos later added.