Category Archives: gold mining

GUYANA: Most Regions Remain Flooded; G$10B (app $US 45M) in funding planned to address flooding

Guyana Map showing Regions

 

Despite a respite in some areas, floodwater remained at significant levels in most of the country’s regions yesterday as authorities continued to mobilise help for victims.

Residential and farm lands along the riverine villages in regions 1, 2, 5, 7, 8, 9 and 10 are the worst affected and the respective Regional Chairs have concluded that these communities will face economic hardships in the coming months as the floods have decimated the livelihoods of many.
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US Tracks Iranian Ships That May Be Heading For The Atlantic and Venezuela – Politico

  POLITICO: Compiled from Several Sources

At the Pentagon and other agencies, officials in the United States have been monitoring two ships from the Iran Navy for about two weeks.

Politico said it contacted the spokespersons for the Venezuelan Foreign Ministry; the Iranian Mission to the UN; and White House and Pentagon spokespersons. All of them, however, have declined to comment on the matter.

An Iranian frigate and the Makran, a former oil tanker that was converted to a floating forward staging base, have been heading south along the east coast of Africa, according to people who spoke on condition of anonymity.      Continue reading

Germany Agrees To Pay Namibia €1.1bn Over Historical Herero-Nama Genocide

Germany calls atrocities ‘genocide’ but omits the words ‘reparations’ or ‘compensation’ from a joint statement

NAMIBIA – click to enlarge

 Philip Oltermann In Berlin | The Guardian UK

Germany has agreed to pay Namibia €1.1bn (£940m) as it officially recognised the Herero-Nama genocide at the start of the 20th century, in what Angela Merkel’s government says amounts to a gesture of reconciliation but not legally binding reparations.

Tens of thousands of men, women and children were shot, tortured or driven into the Kalahari Desert to starve by German troops between 1904 and 1908 after the Herero and Nama tribes rebelled against colonial rule in what was then named German South West Africa and is now Namibia.            Continue reading

Guyana gives more than US$35M in waivers to Troy Resources in past five years

May 25, 2021 – Kaieteur News – Troy Resources, an Australian based gold mining company in Guyana, has over the past five years, saved some US$22 million in fuel imports alone and has also benefitted from another G$2.5B or U$13M in tax breaks between 2016 and 2018.

It would mean that the country gave about US$35M in waivers for fuel and tax breaks to the company during the period mentioned.
Guyana was paid on the other hand, G$17M or US$85,000 in royalties from that company during the same period, 2016 to 2018.      Continue reading

GOLD MINING: Secret contract…Govt. /Aurora tied to secrecy + Massive Concessions

An aerial view of the Aurora Gold Mines operation

GUYANA: Gold Mining: Secret contract exposed… Chinese company pays US$5 rent per acre + Duty-Free Imports

— Chinese company pays US$5 rent per acre for Guyana’s largest gold claim

Aurora Mine – Guyana

The generous concession comes as a result of a contract that was inked (by the PPP government) in November 2011 with Aurora Gold Mines, then owned by Canadian Guyana Goldfields, and since sold to the Chinese mining group.  Continue reading

GUYANA: OMAI Contract still shrouded in secrecy as company boasts of finding more gold

An Omai pit in Region Seven (Cuyuni-Mazaruni)

Apr 24, 2021 – Kaieteur News – Despite it being approximately six months since Omai Gold Mines Limited (OMGL) would have returned to Guyana, the nation is still in the dark about the contract signed with the Government.

The company had closed up shop in Guyana in 2005 after operating since 1992, leaving its Wenot Pit operations located in Region Seven (Cuyuni-Mazaruni) dormant.

Upon departure, its holdings passed from the Canadian company, Cambior Resources, to its parent company, IAMGOLD, and then made its way into the hands of Mahdia Gold Corporation.              Continue reading

ExxonMobil slashes global spending, production to focus on Guyana’s Stabroek Block

Kaieteur News – ExxonMobil has slashed its global oil and gas production from its operations globally to 3.7 million barrels per day in stark contrast to its push to ramp up production in Guyana.
This would lead to Guyana accounting for a quarter of ExxonMobil’s total daily global production, which is being ramped up in the Stabroek Block, projected at 750,000 barrels per day in five years time.

ExxonMobil CEO, Darren Woods

These disclosures were had during its Investor Day Conference on Wednesday last, when Chief Executive Officer, Darren Woods, announced too that ExxonMobil has taken a decision to further slash its capital expenditure globally—a stark contrast to its increased expenditure in the Guyana Stabroek Block.      Continue reading

GUYANA: Canadian company finds high-grade gold in Toroparu mine

The Toroparu project – launches phase 2 drilling project

Gold X Mining, a Canada-based company which operates the Toroparu mine in Guyana, has announced that it found high-grade gold during its recently concluded diamond drill programme, resulting in the company launching phase two of its drilling.

In a statement on February 23, the company was able to use historical drill data to encounter “significant” gold concentrations within and below the Toroparu main resource pit. According to the company, these gold structures are likely to be accessed by shallow and underground mining.      Continue reading

GUYANA: Small and medium scale miners rake in US$808M in export earnings – GGDMA

Kaieteur News – Guyana’s small and medium scale miners have accounted for more than 80% of the country’s gold production for 2020, raking in approximately US$808,587,118 in export earnings.

The Guyana Gold and Diamond Miners Association (GGDMA) in a congratulatory statement outlined that the small and medium scale miners achieved a production of 485,552 ounces of gold for 2020.        Continue reading