Another expression of confidence in Guyana’s economy…
Parts of the mill being offloaded on Monday
(Adrian Narine photo)
MINISTER of Natural Resources and the Environment Mr Robert Persaud, on Monday, urged Guyanese not to be threatened by the influx of foreign investors into the mining sector, but rather they should look at the opportunities that the foreign capital will generate. Minister Persaud was at the time speaking in Linden, Region 10, at a ceremony to mark the arrival of a 33.3 megawatt ball mill, valued US$5M, which will see the implementation of the first stage of work for the launch of Troy Resources Limited, Karouni Gold Project. The project site is located in Region 7 (formerly known as West Omai).
“Whether they are Australian, American, Chinese, Indian, Brazilian, there is a place…we are open for investment and we are not doing that at the disadvantage of Guyanese, in fact, we are looking at synergy, looking at small and medium scale miners and how they can develop a link that they can also benefit from the growth and prosperity such as this and for us it is creating a “win win” situation, where we have large foreign investments… benefiting not only the country as a whole, but the small, medium and national operations,” Minister Persaud explained.
The Karouni gold mining project, a huge multi-million-US-dollar investment by the Australian company, Troy Resources, has a lifeline of up to eight years and is expected to create some 600 jobs for people not only in Region 10, but across the country. “For us as a Government and for us as Guyanese, we ought to be proud of the fact that this project is moving at a reasonable pace, because over the past several years we would have had much discourse and deliberation about a large scale mining project in Guyana,” Minister Persaud told the gathering.
The gold mining sector is mostly made up of small and medium scale mining, and those miners have done an outstanding job in terms of adapting to technology, dealing with challenges, and at the same time, taking the country to its greatest production in 2013.
Minister Persaud explained that there is place for large mining projects such as this, because if one were to look at Guyana’s gold resources in some areas, there are resources being expended, and that is where large mining projects must be encouraged and Guyanese must embrace those investments.
Speaking on the environment, Minister Persaud further stated that the emphasis Government places on the environment, to ensure that activities are done in a way that takes into account the sustainable use of resources must be adhered to. “We will ensure that this project is not only good economically in terms of providing jobs for Guyanese and revenue for the state and developing our natural resources, but very importantly it becomes an outstanding project with good environmental credentials,” the Minister noted.
Meanwhile, Chairman of the Guyana Geology and Mines Commission (GGMC), Clinton Williams said that this project is another milestone for Guyana’s mining industry. He added that the project was pending for a long time following some challenges with another company which was operating on the same site. Williams assured the company that GGMC will support them to ensure that there are no constraints.
Chief Executive Officer (CEO), Ken Nilsson- said that Troy Resources has been in existence since 1987 and has been operating in Australia, Brazil, Europe and Argentina. He stated that one of the aims is to get the local people, the Government and the business community’s support, and work together towards one goal, thus ensuring the project is successful.
Nilsson said that he is optimistic that Guyana can be developed using its economic power though investments like this, as the country is well poised because of its mineral wealth.
The company is expected to commence operations in 2015, once the relevant document is signed off by Government.
(GINA)
