GEORGETOWN, Guyana, July 19, 2016 (CMC) – Canadian-owned Guyana Goldfields Inc. has produced an estimated 75,000 ounces of gold, for the first half of this year.
“Aurora Gold Mines (a subsidiary of Guyana Goldfields Inc.) is a very bright spot in the entire scheme of things in relation to how the economy will grow and be able to produce, not only employment and growth, but social benefits to our people,” said Guyana Prime Minister, Moses Nagamootoo, as he led a high-level team of ministers to the company’s mining operations in the Cuyuni-Mazaruni area.
He said the gold production this year “is good news for Guyana,” adding “I believe that anywhere you go and receive a report of production of 75,000 ounces of gold for the half year, I think that’s excellent.
“I am very impressed with this visit of this mine. Aurora Gold Mines is doing well for the country,” the Prime Minister said, praising the company for its safety and environmental measures.
“This is an example of a good investment; the rewards are showing now and they are encouraging for new investors…there are plans, in terms of expanding of production areas, in terms of producing alternative energy, accommodating the workforce in an environment that is more permanent, in terms of health considerations, security, and the supply of food,” Nagamootoo said, noting that the company employed more than 500 workers.
He said that gold, diamond and other minerals must be linked to the development of communities and sustainable livelihood, and government would welcome any company that wanted to come here with the same objective.
Natural Resources Minister, Raphael Trotman, who was part of the delegation, said that the government is pleased with the operation and production of the Canadian company, adding “it is surpassing even our targets because, at the beginning, we anticipated just about 100,000 ounces (of gold).
“It would appear that we will go beyond that for this mine alone, because at the end of June, they had already done close to 76,000 ounces, so we are doing very well…the returns are good and this company is leading the way,” Trotman said.
Finance Minister, Winston Jordan, said, “Guyana is on the cusp for major transformation and now is the time to get in, particularly when, in the case of gold prices at a level where you can make an investment and get a decent return.”
Jordan said that the returns to Guyana are fantastic, and while sugar is not doing well, rice had some slippages and bauxite is holding its own, gold has allowed the economy to continue to grow rather than regress.
“All in all, I think the future is golden,” he added.