Australian mining project ready to begin operations
With initial funding of US$92 million, Troy Resources is gearing to begin operations. On Monday, it offloaded a ball mill in Linden, one of the closest points to the site of operations west of Omai in Region Seven.
The construction phase is likely to see about 500 people on site, with most of them likely to be Guyanese.
Chief Executive Officer Ken Nilsson pointed to the reasons why he sees the project being a success.
The Karouni Project recently completed the construction of an airstrip at the project site and the mobilization of equipment and hiring of personnel is ongoing to initiate the construction phase.
The Chairman of the Board of the Guyana and Geology and Mines Commission said all permission has been granted to the company to begin operations.
The Karouni Project is expected to churn out 90, 000 ounces of gold annually over a seven year period.
Minister of Natural Resources and the Environment Robert Persaud said the necessary strategies have been put in place to ensure that the project would meet environmental and social safeguards.
Troy Resources is an Australian exploration and mining company since 1987. It operates two mines in South America one in Brazil and the other in Argentina.