…to provide over 600 jobs for Guyanese

“GUYANA is well poised (for an economic take-off) because of its mineral wealth,” Chief Executive Officer of Troy Resources Limited-Guyana, Ken Nilsson, said yesterday, as the company launched its US$77M Karouni Gold Project at the Omai Linden Stock Yard seeing almost 600 job opportunities for Guyanese.

Nilsson said his company was driven to start operations here “because we had a strong belief in the opportunities in the mineral commodities available.”
He emphasised that everyone will benefit from the project and the company will employ strictly Guyanese.
The CEO further explained that the company will be implementing environmental controls and strategies to identify, minimise and, where possible, avoid any negative environmental impact from their activities. He said Troy’s goal is to operate efficiently and productively without causing injury or damage to people, the environment or equipment. He estimates that there will be a seven year mine life for the project, with an average gold production of 90,000 ounces.
Clinton Williams, Chairman of Guyana Geology and Mines Commission (GGMC), who was present at the launch, said, “This milestone, in fact, is telling us that we are ready to go with Troy. We at GGMC have been facilitating this project for some time now, and just recently we have signed off on it and have given

Troy permission to start works on the site, and we have been assured by the company of project completion”.
Speaking briefly at the launch, Minister of Natural Resources and the Environment, Robert Persaud, said,“We have had three large mining projects under consideration, and we are happy that we see the Troy Resources Project commencing operations.”.
He stated that the ministry will ensure that the project is economically viable as it provides jobs for Guyanese, providing revenue for the country and developing its natural resources; and the ministry will ensure that is becomes an outstanding project with good environmental credentials.
Persaud urged Guyanese that, “we should not feel threatened as a nation by international investment, but see it as a benefit, as a ‘win win’ situation”. Minister Persaud assured the company of the government’s commitment to the success of the project.
Troy Resources Limited established in 1987 is a junior gold producer with operations in Australia, Mongolia, Northern Europe, Brazil and Argentina. The company has forged a proven record of fast-track mine development, low cost operations, strategic acquisitions and exploration discoveries.Since its inception, Troy has continued to look for opportunities to create value for its shareholders, through focused exploration in Brazil and Argentina, and more recently with its acquisition of the Karouni project in Guyana.

(By Rebecca Ganesh-Ally)