South Africa-based Acrux Sorting Technology (AST) has announced a strategic investment in SGZ Cononish Limited, the only commercial gold mine in Scotland, located near Tyndrum in Loch Lomond and The Trossachs National Park.

The investment means AST subsidiary Acrux Gold Limited becomes an 80% majority owner of Cononish.

Former owners of the Cononish Gold and Silver Mine, Scotgold Resources Limited, had appointed administrators. in November 2023.

“Gold has stood the test of time, proving throughout history to be a resilient and valuable investment,” said Acrux.

“Today, its relevance and appeal are stronger than ever. With this broad perspective and as the global demand for gold continues to grow, Scotland presents a unique opportunity for sustainable and prosperous development in the sector.

“AST’s investment in Cononish reflects its confidence in the future of gold mining in Scotland and its commitment to strengthening the sector through responsible and sustainable operations.”

AST CEO Sean Browne said: “This is a transformative opportunity for both AST, Cononish and surrounding communities.

“The growing value of gold presents an exciting investment landscape, and we are committed to ensuring long-term success while adhering to the highest environmental and social economic standards …

“We’re honoured to work alongside the local governing bodies. Our shared vision for sustainable growth gives us confidence in a bright future for both Cononish and the

“Scottish gold sector, creating long-term value and setting a benchmark for responsible mining.”

AST said it is determined to be judged by “how it treats the environment and measures its success by the positive impact it has on the local economy.”

AST said: “This partnership will see Cononish recapitalised and returned to operation, and the final restoration complete rather than the site being abandoned.

“The investment will bring new jobs and stimulate economic activity in this remote Scottish region …

“Acrux Sorting Technology extends its gratitude to Crown Estate Scotland and Loch Lomond & The Trossachs National Park Authority for their willingness to engage and give clear advice in making this venture possible.

“Their expertise and guidance have been invaluable in ensuring that this investment aligns with both environmental and community interests.”