CHESAW, Wash. - After spending five years and $10 million seeking permission to explore for gold near Chesaw, Kinross Gold says it is dropping the effort.
The company says its proposal to drill more than 950 holes in search of more gold is being abandoned due to the cumbersome permit process.
The Wenatchee World reports that Kinross has been working with state and federal agencies to develop an environmental impact statement for gold exploration on about 9,200 acres.
The company's existing Buckhorn Mine is scheduled to shut down in mid-2015 as it runs out of gold to mine.
Kinross will continue with other, smaller exploration projects in the area.