Canadian-based company to invest US$238 million in Guyana’s mining sector

Prime Minister Samuel Hinds, welcoming the second largest investment in the mining sector, said as a country, “we have to open to the world…we have to partner with the world,” particularly given the potential size of the multimillion-dollar investment.

Guyana Goldfields Inc. focuses on the exploration and development of gold deposits here and Hinds said that the experience, expertise and technologies which the investors were bringing into the country would have been difficult source locally.

“Our challenge is to develop partnerships with the world… we have to develop the ability to recognise who we could develop good partnerships with,” he said, acknowledging that while the investment was “somewhat risky” he was looking forward to its success.

Natural Resources and Environment Minister Robert Persaud, who also supported the investment, said it would bring tremendous benefits to the Guyana.

He assured all stakeholders that Guyana Gold Fields (GGF) had undertaken a comprehensive environmental sensitivity index (ESI) and the necessary permits to ensure compliance with local laws and international best practices.

He said government also recognised the move by the company to reduce the “carbon footprint” of the site’s mining plant from 2000 hectares to 1200 hectares and that the Environmental Protection Agency (EPA) and the Guyana Geology and Mines Commission’s Environmental Division would be upgrading their monitoring capability and enforcement capacity to manage and ensure compliance.

“It is an area in which we have commenced work, especially given that we are looking at a new type of mining technology that will be utilised, and to ensure that from an environmental standpoint we build that capacity.”

Guyana this year produced in excess of 452,000 ounces of gold surpassing the target of 451,000 ounces set and the 438,000 ounces declared in 2012.

Canadian-based company to invest US$238 million in Guyana’s mining sector

Prime Minister Samuel Hinds, welcoming the second largest investment in the mining sector, said as a country, “we have to open to the world…we have to partner with the world,” particularly given the potential size of the multimillion-dollar investment.

Guyana Goldfields Inc. focuses on the exploration and development of gold deposits here and Hinds said that the experience, expertise and technologies which the investors were bringing into the country would have been difficult source locally.

“Our challenge is to develop partnerships with the world… we have to develop the ability to recognise who we could develop good partnerships with,” he said, acknowledging that while the investment was “somewhat risky” he was looking forward to its success.

Natural Resources and Environment Minister Robert Persaud, who also supported the investment, said it would bring tremendous benefits to the Guyana.

He assured all stakeholders that Guyana Gold Fields (GGF) had undertaken a comprehensive environmental sensitivity index (ESI) and the necessary permits to ensure compliance with local laws and international best practices.

He said government also recognised the move by the company to reduce the “carbon footprint” of the site’s mining plant from 2000 hectares to 1200 hectares and that the Environmental Protection Agency (EPA) and the Guyana Geology and Mines Commission’s Environmental Division would be upgrading their monitoring capability and enforcement capacity to manage and ensure compliance.

“It is an area in which we have commenced work, especially given that we are looking at a new type of mining technology that will be utilised, and to ensure that from an environmental standpoint we build that capacity.”

Guyana this year produced in excess of 452,000 ounces of gold surpassing the target of 451,000 ounces set and the 438,000 ounces declared in 2012.

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