Two gold mines about the size of Omai are set to come into operation in the next few years and Commissioner of the Guyana Geology and Mines Commission (GGMC) William Woolford predicts a buoyant future for the industry.
“The small miners have done well and continue to do well but the large operators are coming to the fore once again. The large operators would be as big as Omai had been,” said Woolford during at press conference at the GGMC offices in Brickdam, on Friday. Gold production for the first half of this year amounted to 140,672 troy ounces and Woolford said the industry is doing extremely well.
The two large-scale companies looking to set up large mines in Guyana are Sand-spring Resources Limited and its Toroparu project in the Upper Puruni and Guyana Goldfields with its Aurora project along the Cuyuni River.
Sandspring is looking to develop the property within the next five years and its publications show that it is looking at a mine the size of Omai, Woolford said. The Aurora project is expected to begin production between 2012 and 2013.
Guyana Goldfields has applied for a mining licence but further information was requested from the company with respect to its ore reserve status. In the meantime, it is moving aggressively ahead with plans for development and has identified the road network that it is going to put in place along with some of the infrastructure, Woolford said. “So, it’s a very buoyant time for the mining industry in Guyana.”
Guyana Goldfields Inc is a Canada-based mineral exploration company primarily focused on the exploration and development of gold deposits in Guyana, where it has operated since 1996. The company had applied to the Environmental Protection Agency (EPA) for permission to open a large-scale mine at Aurora, Cuyuni River, which if approved could see the construction of a hydropower facility across a section of the river. The proposed project will entail the operation of open-pit and underground mines, mineral processing to recover gold, the construction of a hydroelectric plant to provide power to the processing plant and the construction of an access road and wharf to service the operation.
Meantime, another large project, the Marudi Gold mine in the Rupununi being operated by Romanex Guyana Limited along with Shoreham Resources is yet to get off the ground. The operation is awaiting an updated environmental authorization, since the one it had expired, Woolford said. He said he understands that it is just about ready and so the company should begin mobilizing in the near future in accordance with its mine plan
