Category Archives: Mining

Chinese mining firm to acquire Guyana Goldfields Inc for Cdn$323 million


Zijin Mining Group Co., Ltd and Guyana Goldfields Inc (GGI) today announced that they have entered into a binding arrangement agreement  pursuant to which Zijin will acquire all of the outstanding common shares of Guyana Goldfields for cash consideration of C$1.85 for each Guyana Common Share, valuing Guyana Goldfields at approximately C$323 million.      Continue reading

Guyana: DIS TIME NA LONG TIME – by Dave Martins + Music Video

My wife Annette is very big on Guyana. Soon after I met her, some 10 years ago, showing pictures of the Guyana interior at a THAG function in Georgetown where I was appearing, that came across loud and clear to me. Indeed, when a relationship between us started and marriage was in the air, she let me know, quietly but firmly, that she wasn’t living anywhere else but here which was a factor in my returning to Guyana permanently. That’s the background.

On October 28, 2018, some 11 years later, on a Sunday visit to Canal Number One (West Bank, Demerara). I was standing by the Boeraserie waterway, and before I knew what was happening Annette whips out her cell phone and starts interviewing me about my memories from that area. In case you haven’t seen the video on Facebook, she asked me if I had any memories of that Water Conservancy, and I related a particular incident which happened when I was living in Vreed-en-Hoop.

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Guyana: Gold Board’s exports in 2019 was US$112M – Port Kaituma office opens

Exports from the Guyana Gold Board last year totaled over US$112M with officials insisting that the industry is continuing to make its mark on the economy of Guyana.

Minister Raphael Trotman and others at the opening of the Port Kaituma branch

The statements were made on February 3, 2020 when the Gold Board opened an office in Port Kaituma, Region One, with the projections of growth.

It was disclosed that the move comes as a result of requests from small miners.          Continue reading

RUSAL suspends operations; informs Labour Ministry 326 workers sent home

RUSAL, the Russian-owned bauxite company, announced that they have sacked more than 300 Guyanese, bringing the total to a whopping 614 workers left without a job. The company has also pulled its expatriate employees and suspended local operations in the Berbice River.

RUSAL representative Vladimir Permyakov (left), Social Protection Minister Amna Ally (Centre), Minister Keith Scott (second right) and Chief Labour Officer Charles Ogle (Right) at the meeting

The company in a statement issued yesterday, cited “industrial unrest, including arson and other destruction of corporate property, and blocking of the river” as the main factors for the suspension.      Continue reading

Guyana Bauxite Mining: Rusal tells GRA auditors: “leave or we leave”

GRA’s Godfrey Statia

The startling disclosure was made Friday by Commissioner-General Godfrey Statia during a press conference.

The Russian-controlled company is under fire, for the umpteenth time, for not only its labour practices but for taxes and other issues.

A few months ago, questions were raised over possible abuse of duty free concessions on fuel and dividends paid to the Government of Guyana.        Continue reading

Guyana: Gold Mining: Troy Resources restarts operations

Troy Resources Guyana Inc. yesterday announced that as planned, following a successful fund-raising required to restart, operations at the Karouni Gold Mine were resumed during the second week of January.

Troy has restarted its gold mining operations

“The company complied with all the requirements and received the requisite approvals for the resumption of activities from the various government agencies enabling it to restart operations,” the statement explained.      Continue reading

Brazilian tribes back manifesto to save Amazon habitat from President Bolsonaro

Indigenous leader Cacique Raoni of Kayapo tribe delivers a speech during a four-day pow wow in Piaracu village, in Xingu Indigenous Park, near Sao Jose do Xingu, Mato Grosso state, Brazil, January 17, 2020. REUTERS/Ricardo Moraes

Indigenous leader Cacique Raoni of Kayapo tribe delivers a speech during a four-day pow wow in Piaracu village, in Xingu Indigenous Park, near Sao Jose do Xingu, Mato Grosso state, Brazil, January 17, 2020. REUTERS

XINGU INDIGENOUS PARK, Brazil, (Reuters) – Leaders of native tribes in Brazil issued a rallying call to protect the Amazon rainforest and its indigenous people from what they called the “genocide, ethnocide and ecocide” planned by the country’s far-right President Jair Bolsonaro.            Continue reading

Guyana’s 2019 gold declarations at record-breaking 634,905 ounces

– Foreign revenue simultaneously increased US 11.81%

The Ministry of Natural Resources (MNR) is pleased to announce another record-breaking year of gold declarations for 2019, which has been declared at 634,905 ounces.

The actual declaration for the year totals 634,905 ounces and amount to 18,682 ounces above what was declared in 2018 (616,223). Of the declarations, Guyana Goldfields and Troy Resources stand as two large scale investors which, despite severe challenges and constraints, managed to have reasonably good production.      Continue reading

Morales loyalists block Bolivia’s roads to pile on pressure – The Guardian UK

Followers of the exiled ex-president hope their blockade of food and fuel will bring concessions from the new rightwing government

‘Bring Evo Back’ graffiti at a barricade to Alto Lipari manned by Morales supporters.
 ‘Bring Evo Back’ graffiti at a barricade to Alto Lipari manned by Morales supporters. Photograph: Tom Phillips/The Observer

The barricades blocking the road to Alto Lipari are fashioned from every conceivable object: telegraph poles and tree trunks, wheelie bins and wooden crates, a bed frame and even a shipping container daubed with insults aimed at Bolivia’s “sell-out” police. Their message is unambiguous. “Evo de nuevo” reads a demand written on to the ground at the blockaded entrance to this rural farming community an hour’s drive south of La Paz. “Bring Evo back.”      Continue reading

Gold Mining: Troy Resources Guyana terminates over 300 employees

… union mulls court action

Troy Resources Guyana’s CEO, Ken Nilsson

The move however, is being seen as a flagrant breach of Guyana’s Termination of Employment and Severance Pay Act, which speaks to payment of employees in lieu of notice and in dealings with unionized workers.

An internal memo was circulated yesterday by the company’s Chief Executive Officer (CEO), Ken Nilsson, in which it was stated Troy Resources was unable to secure financial support for its venture, and as such, the company would require more time for completion.        Continue reading

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