The government last night announced that the agreement with Australian gold miner Troy Resources Limited has been cancelled and swift action has been taken to secure the Region Seven mining site.
The announcement followed a report in yesterday’s Stabroek News that Troy Resources appeared to have abandoned its Guyana operations without abiding by the terms of its agreement and for reclamation of the area which was mined at Karouni since 2015.
In a statement at around 10 last night, the Ministry of Natural Resources said that in light of Troy Resources Guyana Inc.’s failure to remedy its default concerning several matters, inclusive of the outstanding royalties, rental fees, non-compliance with the work programme, and matters relating to environmental management the government has taken necessary actions.