A mothballed Scottish gold mine is to reopen after being bought by a South African mining technology group.

Acrux Sorting Technology has taken a majority stake in SGZ Cononish Limited, the UK-registered company behind the mine in the Loch Lomond & Trossachs National Park.

SGZ was excluded from the administration of its parent group which saw operations at Cononish brought to halt in 2023.

However, mining will not resume for at least a year as Acrux chief executive Sean Browne begins the process of hiring staff and paying creditors who were left out of pocket. He hopes production will begin in the first quarter of 2026.

Acrux will own 80% of SGZ Cononish with the remaining shares held by existing investors including the financier Nat le Roux, formerly the largest shareholder in Scotgold Resources which mined the first gold in 2020.

Jewellers reported strong demand for Scottish gold because of its rarity value, but the mine’s production never reached the annual target of 23,500 ounces.

Scotgold Resources, which was quoted on the stock market, suffered a series of setbacks with equipment problems, staff shortages and poor weather.

After acquiring the assets for an undisclosed sum Mr Browne said: “This is a transformative opportunity for both AST, Cononish and surrounding communities.”

A spokesman for the national park authority said: “This marks an important positive step forward following what has been an uncertain, prolonged period of care and maintenance at the Cononish mine site.”