The government has sent a demand letter to Australian mining company, Troy Resources, which abruptly shuttered operations here, warning that failure to pay the over $2.6 billion in royalties owed, will result in the termination of their agreement and licences while simultaneously pursuing all legal means to ensure this country collects its due.
“We will pursue all legal avenues,” President Irfaan Ali told the Sunday Stabroek.
This newspaper understands that a demand letter has been sent to company, giving it 60 days to pay up some $2.6 billion it owes in royalties or see government, “exercising its rights of pursuing the available legal and equitable remedies under the contract and law, including but limited to recovery of all monies owed, interests thereon, damages as compensation, restitution and termination of the agreement and licenses.”