Mitsui Holdings: Gold Mining Firm Minimizing Environmental Impact.

Online, November 16, 2010 (Newswire.com) - "Mitsui Holdings" report that they have invested $10.4m in Mongolian gold mining company, Pinjan Acho Mining following several months of negotiations. The miner secured the investment based largely because it succeeded in closing its hedge book which had committed to selling its production of gold at $1000 an ounce for the next 3 years.

A "Mitsui Holdings" principal said that the elimination of the hedge book allowed Pinjan Acho to sell future production of gold at current market prices. "Gold is in a secular bull market that we believe has several years left to run considering the runaway monetization of debt currently underway in many advanced economies".

Also key to the investment was the miner's commitment to focus primarily on underground mining and the expansion of its innovative process which reduces the oxidation of sulfides which can contaminate rivers with sulfuric acid.

"Mitsui Holdings" says that the miner is on target to exceed its production forecasts in 2010 and cites the favorable outlook for the gold price in the years ahead.

Pinjan Acho said it welcomed the investment which would be deployed in various key areas including the recruitment of additional geologists and the purchase of a new crusher for its main property.