Troy Resources Incorporated on Monday received a US$5M grinding mill for its Karouni Gold Project, Region Seven.
Project Director and CEO of the Australian mining company Ken Nilsson along with Minister of Natural Resources and the Environment Robert Persaud, Guyana Geology and Mines Commission (GGMC) Chairman Clinton Williams and Guyana Gold and Diamond Miners Association President (GGDMA) Patrick Harding called it a milestone achievement for the company and development in Guyana, when each spoke yesterday at its first public event, marking the arrival of the mill.
The project is slated to provide some 500-600 jobs during its initial construction phases. However this number is set to be reduced after the construction phase is complete and as time progresses since this is a heavily mechanized operation. The mill itself will be used to grind the extracted ore into minute particles, with the gold being of a higher density, sinking to the bottom in another machine to be imported, called a gravity circuit. The remaining ore will be further reduced to a point where it can be dissolved using a cyanide solution. The process will use activated carbon tablets which attract the gold to it. The gold is then separated from the carbon using an elution circuit, another machine to be imported in the coming months. The elution circuit facilitates desorption of the gold cyanide at high temperature after which the gold is precipitated via an electrowinning process. The gold would then be ready to be refined after that. This process would not be utilizing mercury.
The company hopes to start mining by February of next year and is currently in the process of grading the land and bringing in more machinery. Last month, government approved duty and tax-free concessions for equipment and other goods to be brought into the country by the company for the Karouni Gold Project.
Nilsson said Troy Resources Guyana Inc was formed after work in two other successful projects in South America. After finding success in Argentina, his company ventured into Brazil, which was an even bigger success for the country, since it attracted much more investment from other Australian investors that learnt about his success, Nilsson said. This, he said, is what he expected to happen in Guyana which is well poised for development because of its rich mineral resources.
Williams said that the Karouni project is ready to go as the company had just been given permission to start site works. Noting the investment is one of two large gold mining investments in Guyana, Williams called it a good signal for investment and assured the smooth facilitating of the work, which he described as time based, making it important to avoid delays.
Minister Persaud, in his address, cited the many challenges the project faced but opined that Guyana ought to be proud of the pace at which the work is going. He stated that there was much discourse and deliberation over the project and its environmental impact given that the company plans to use cyanide in its operation. The offloading of the mill today demonstrates the seriousness of the company, Persaud said. Highlighting the due diligence undertaken and benefits of the project, Persaud said that measures have been taken to ensure sustainability, economic benefits, jobs generation, revenue generation for the state, development of mineral resources and the provision of a template for future endeavours. Professing his happiness at the mill’s arrival, Persaud said that he hopes that the country can attract other Australian companies.
Troy Resources Guyana has proposed a medium-scale gold mine designed to produce up to 110,000 ounces of gold per annum based on an average overall recovery of 92% at the Black Water Creek, Kaburi Area, in Region Seven. The Environmental and Social Impact Assessment (ESIA) for environmental authorisation of the Karouni project is currently being done.
