Major Canadian investment in mining sector progresses

Yesterday [Sunday, August 17], President Donald Ramotar, Minister of Natural Resources and the Environment, Robert Persaud, Finance Minister, Dr Ashni Singh, Works Minister Robeson Benn, and Chairman of the Guyana and Geology and Mines Commission, Clinton Williams along with Canadian High Commissioner to Guyana, Dr Nicole Giles visited the Guyana Gold Fields, Aurora Cuyuni operations.

Chief Executive Officer of the mining operation, Scot Cladwell and several of his managers welcomed the delegation on site and treated them to a guided tour of the location.

After a detailed tour of the many sites, which are all in their construction phase, and being updated on the progress of works, the Head of State said the investment is welcomed by the administration.

“Investment in our society is important for the creation of wealth and jobs. Some of you who follow our policies you would see we invest a lot in our social sector,” the President said.

Meanwhile, the CEO of the Company thanked the team for the interest shown as he assured them that the works are progressing smoothly and on target.

According to Cladwell, actual mining is expected to commence by July of 2015 with an expected commercial production of 14,000 to 15,000 ounces per month.

The CEO also assured the team that the company continues to place safety high on its agenda as they operate under the strictest safety regulations.

It was also noted that the operation will be carried out using world class technology, as well as mercury free methods. Guyana Goldfields Inc., is a Canadian based mineral exploration company, primarily focused on the exploration and development of gold deposits in Guyana, South America where the company has operated since 1996.

The company is currently undertaking drilling and studies to advance and develop the Aurora Gold Project in Guyana with a current measured and indicated resource of 5.71 million ounces gold (47.04 million tonnes at a grade of 3.83 g/t).

In addition to Guyanese investors, the development of the natural resources sector particularly mining, forestry and bauxite have seen investors from countries including Canada, USA, China, India, Russia, Australia, Malaysia and Brazil.

[Extracted and modified from GINA]