Two mining companies have been granted large-scale licences to mine gold in Regions Seven (Cuyuni/ Mazuruni) and Nine (Upper Takutu/Upper Essequibo) and are looking to begin operations in the coming year.
Ontario Incorporated, part of a Canadian mining group, and Romanex Guyana Limited have been given approval to commence large-scale gold mining operations at Peterโs Mine on the Puruni River in Region Seven and at the Marudi Mountain area in Region Nine respectively. Both companies had been conducting explorations in the areas they intend to mine and are looking to produce between 50,000 to 100,000 ounces of gold per year, Commissioner of the Guyana Geology and Mines Commis-sion (GGMC), William Woolford told Stabroek News.
He said that both of the companies are looking to get operations on stream in the new year. Woolford said that while the companies had been granted large-scale licences, their operations would be on the smaller end of large operations. To illustrate, Omai was operating on the larger end of large scale operations.
Woolford said the companies had sent applications to the GGMC; the process of approval has been completed and the companies are finalising the arrangements to collect the licences.
He said several other applications were pending, but in the light of the global financial crisis, it could not be said for certain whether the other companies will go ahead.
Ontario Inc was granted a prospecting licence in 1996 to a property encompassing the former Petersโ Mine on the Puruni River. The concession occupies an area of approximately 3,400 hectares.
The conditions of the Prospecting Licence allowed for the application of a Mining Licence at any time during its tenure and the firm took that option. Ontario Inc is part of Guyana Goldfields Incorporated.
Romanex obtained its licence through Vannessa Ventures Limited, which has since changed its name to Infinito Gold Limited. For several years, both companies had been conducting studies in the areas, they intend to mine.
