Tag Archives: Troy Resources

Guyana: Major gold mining companies ignite plans for underground mining

Guyana: Major gold mining companies ignite plans for underground mining

GGMC Commissioner, Newell Dennison

– Guyana still to set up necessary framework

Guyana is moving in a direction of underground mining at magnitudes never done in the country’s history. However, the Guyana Geology and Mines Commission (GGMC) is still to put all the necessary measures in place to monitor this sort of mining that is considered “more hazardous than open pit mining.”

Recently, CANADA-based gold-mining company, Guyana Goldfields Inc. announced that it will be investing an initial sum of US$120M to develop an underground mine at its Aurora Gold Mine.  

Kaieteur News was also reliably informed that Troy Resources, another big player in the mining industry, is moving in the same direction.     Continue reading

Gold roars past 300,000 ounces – production projected beyond 600,000 ounces for 2016

Jun 28, 2016  – Kaieteur News 

 Government is aiming to top the 600,000 ounces mark for gold declaration this year with the first half showing encouraging signs.
As of June 22, last, around 315,000 ounces have been declared for the year so far, with Minister of Natural Resources, Raphael Trotman, stressing yesterday that contributions from the small and medium scale miners have been significant.

Of course, the two large players have been strong with Canadian-owned Guyana Goldfields Inc. targeting 75,000 ounces for the first half.
“Things are looking very positive. As you know, oil prices are going up. Gold has gone up significantly and we are looking to crest that 600,000 annual mark.”

Minister Raphael Trotman

Minister Raphael Trotman

That revised target will be significant, by any means. Last year, Guyana surged to 451,000 ounces despite a four-year low in gold prices.
An ambitious 550,000 ounces was set for this year but it looks this will be easily surpassed.   Continue reading

GUYANA – Latest News from various sources – November 13, 2015

GUYANA – LATEST NEWS – 13 November 2015  –  Kaieteur News 

         (see other News sources at the end of this entry)

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