BP UNIT SEES U.S. GOLD MINE PROCEEDING

  British Petroleum Co PLC said based on
  a feasibility report from Ridgeway Mining Co, its joint venture
  Ridgeway Project in South Carolina could start commercial gold
  production by mid-1988.
      The company said the mine would produce approximately
  158,000 ounces of gold per year over the first four full years
  of operation from 1989 through 1992 and at an average 133,000
  ounces a year over the full projected 11 year life of the mine.
      BP's partner is Galactic Resources Ltd of Toronto.
      BP said subject to receipt of all statutory permits,
  finalization of financing arrangements and management and joint
  venture review, construction of a 15,000 short ton per day
  processing facility can start. Capital costs to bring the mine
  into production are estimated at 76 mln dlrs.
  

