Guyanese Online
Chinese miner, Zijin Mining Group Co. Ltd and Canadian miner, Guyana Goldfields Inc (GGI) today announced the conclusion of their arrangement where Zijin acquired all of the issued and outstanding common shares of the Region Seven-based company.
The precious metal has passed $2,000 an ounce and analysts believe it will rise a lot further
Rupert Neate Wealth correspondent –Thu 6 Aug 2020 15.27 BST – The Guardian
In the five trading days to 3 August the total volume of gold traded was 251m ounces, worth £133bn.
The price of gold soared to a record $2,047 (£1,538) on Wednesday as investors panicked by fears of a second wave of the coronavirus pandemic rushed to buy the yellow metal as a safer place to store their wealth.
The gold price has risen by 34% since the start of the year, and this week broke through the $2,000 an ounce barrier and kept rising, as investors worry about Covid-19, as well as rising geopolitical tensions and the weakening of the US dollar. Continue reading
By Stabroek News –
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
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.
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, 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
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
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
Guyana: Geography: The Savanna Region – Part 4 of 4
Share this: