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Wednesday, 27th December 2006 (6659 views)

Welsh gold reserves are forecasted to end in the near future, according to a leading mining expert.

Roland Phelps, managing director of Welsh Gold, believes that the country's stocks of pure Welsh gold are set to dry-up in the New Year.

"We haven't got a date for it yet as it is produced in a haphazard way and one can never forecast sales, but we expect to be very close to running out within the early part of next year," said Mr Phelps.

He added: "We've looked elsewhere to see if there's anywhere we might possibly go, but there isn't anywhere we consider economical. This isn't to say there won't be a small amount of gold panned in Welsh rivers, but we don't consider that a commercial operation."

The local gold has proved a very successful choice for wedding rings, with a number of celebrities and royalty opting for jewellery made from the regional metal.

Actor Michael Douglas gave a Welsh gold ring to his wife Catherine Zeta-Jones and both Diana Princess of Wales and Camilla Parker Bowles had their wedding rings made from Welsh gold.

 

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