Guyana Goldfields gets mining licence for Aurora

Toronto-based Guyana Goldfields has received a mining licence for its Aurora project in the former British colony it gets its name from, the company said on Friday.

The firm said it was the first major gold mining licence Guyana has issued since 1991.

Construction at Aurora will start in the first quarter of 2012, and take two years to complete, with the mine and mill planned to be fully operational by early 2014, Guyana Goldfields said in a statement, calling the granting of the licence “an extremely important milestone”.

“This historic landmark agreement for the company and Guyana, which strikes a fair and reasonable balance of taxation and royalties for gold mining, sets the stage for future large-scale gold mining operations and reaffirms GGI’s view that Guyana is ‘open for business’,” CEO Patrick Sheridan said.

Aurora has a measured and indicated resource of 5.71-million ounces.

Guyana Goldfields aims to complete a feasibility study on the project in January. – Miningweekly

Tags: Gold, Gold mining, Gold mining companies, Gold mining industry, Guyana Goldfields

Posted by admin on Nov 22 2011. Filed under Gold mining. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry