Canadian silver miner Silvercorp Metals Inc is buying the Region Seven-based Guyana Goldfields Inc (GGI) in a CDN$105m deal which has been welcomed by the de facto government.
The workers of GGI’s large-scale Aurora Gold Mines (AGM) have however, through their union, expressed “disappointment” that they were not consulted prior to the agreement being signed.
According to a press statement from the two companies they have entered into a definitive agreement whereby Silvercorp – with China-based silver mining operations – will acquire all of the issued and outstanding shares of Guyana Goldfields by way of a plan of arrangement under the Canada Business Corporations Act.