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Transcript of Guyana Gold
Endeavour Magazine spoke to Guyana Goldfields about the Aurora Gold project, an exciting initiative set to change the local industry forever.
WRITTEN BY AMY TOCKNELL
ALL THAT GLITTERS
001 416 628 5936 WWW.GUYGOLD.COM
Despite having located a potentially high earning location, the initial stages of development were not straight forward, as Scott Caldwell, CEO at Guyana Gold, told us,
In the beginning, in order to gain access to its properties, the
company would have to make use of the waterways by boat and
sometimes portage due to the interior being very remote and the
lack of existing roads because of the dense jungle rainforest. Any
infrastructure we currently use has been specifically put in place
over the years and the company has made a substantial investment
into this. We currently use a 160km all-weather access road, which
leads to our site from our Buckhall wharf facility located along the
Essequibo River. The wharf facility is where all of our goods and
equipment is barged to and thereafter transported down the access
road to our site by trucks.
That sounds like a lot of trouble, but for a company as single
minded, focused and specialised as Guyana Goldfield, there is no
option. The installation of vital infrastructures is seen as a small price
to pay for successful gold mining. Speaking to Caldwell about the
core interests and activities of the company, he explained that,
Having obtained land claims within the country, Patrick Sheridan Jr. founded and firmly established Guyana Goldfield. Despite a number of artisanal miners, the region was largely unexplored when Sheridan Jr. had the foresight and business acumen to see an opportunity and act upon it.
Macorp continues to provide the solutions necessary for the infrastructural and economic growth of Guyana.
We are fuelled by our customers expectations; helping them to do more by providing total integrated solutions for their operation.
One such customer is the Aurora Gold Project.
Our relationship started in 2006 and continues to provide opportunities for Aurora to do more, for their customers, employees and Guyana.
Macorp supported by Caterpillar will continue to strengthen our most significant competitive advantage, the relationships we have with our customers, relationships which makes us proud to say that we are
BUILT FOR IT.
Angel Amaris,Mining Major Account Manager.
Guyana Goldfields Inc. is focused on the construction and
development of the Aurora Gold Project, which is scheduled to
reach commercial production by mid-2015. The mine plan for the
Aurora Gold Project is designed to produce 3.29 million ounces of
gold, averaging 194,000 ounces per year, over an initial 17-year
mine life with an average grade of 2.74 g/t gold. The construction
process is currently 40% complete (November 2014) with the mill
delivery and installation occurring before year-end. The total capital
cost to complete the construction of the Project is US$249 Million.
The capital invested in the Aurora Project necessitates that it is
as successful as forecast and that the initiative is completed at an
Gold production will be staged, with initial open pit production
supplying ore to the mill at a rate of 5,000 tons per day, thereafter
increasing to 10,000 tons per day with the onset of underground
mining. The Company also continues to explore its large land
package within the Aurora and Aranka districts.
Taking the pressure of a large-scale project naturally in their
stride, the team at Guyana Goldfields is already considering future
exploration opportunities. With a tenacious and ambitious team at
the helm, it can come as no surprise that Guyana Gold is happily
weathering the storm that has hit the gold industry in recent years.
With the price of gold having dropped sharply, many companies are
now looking to scale back their own costs to increase margins and
present appealing prospects to new investors.
With the Aurora Project in full swing, a highly efficient and
committed workforce supports Guyana Goldfields, but not at the
cost of the local economy, as Caldwell explained,
Guyana Goldfields has been dedicated to sourcing local
personnel and achieving a workforce target rate of 90-95%
Guyanese nationals. The Aurora Gold Project currently has over
650 personnel employed at the site, with this rapidly increasing
to 900 workers by the end of 2014. During the development and
construction stage, Guyana Goldfields will employ approximately
900 personnel dedicated to the build and construction of the Aurora
Gold Project with this declining to approximately 450 personnel
during mining operations, once production is achieved in mid-2015.
Indirect benefits of employment include training programs, medical
benefits, managerial, and professional leadership development skills
training, as well as a stable and enjoyable working environment.
Interested in preserving the local communities and regions that
surround its operations, the company is actively exhibiting a level
of social responsibility rarely witnessed in the currently turbulent
economic market. Far from choosing the cheapest, easiest or most
convenient staffing solutions, Guyana Goldfields has made a pledge
to boost the local economy while simultaneously looking to meet
its own targets. By offering training and skills development, those
fortunate enough to be selected by the company, can expect
a multitude of opportunities to
progress their career,
making for a
m o t i v a t e d ,
Though not at the
production stage yet, Guyana
Gold is already giving thought
to its customer service charter
and Caldwell explains the aims
of the organisation,
Guyana Goldfields mission
is to create a sustainable
mining operation that delivers
top quartile shareholder and
stakeholder returns, while
achieving industry leading
performance in health,
safety, stewardship of
the environment, and
Its this attention
to ALL the details
that makes Guyana
Goldfields so different.
Not content with producing
impressive returns for investors,
the company is also striving for
eco and socio-responsibility of
the highest standards, not to
mention the continued safety of
its employees. If more companies
took their lead from Guyana,
could the economic stability be
just around the corner?
With the Aurora Project
moving forward at an impressive
rate and looking set to begin
commercial production in mid-
2015, what levels of investment
have brought the company to
this point? Caldwell explains,
The Company has been
operating in Guyana since
1996 on a full-time basis and
has been working closely with
Visit our showroom at226 Camp Street, North Cummingsburg, Georgetown, GUYANA SATel: (592) 225 7405, 225 7406 Fax: (592) 225 7166Email: email@example.com
A fire could destroy everything you own
Government authorities and local communities. This is to ensure
transparency regarding the Companys activities and ensures that
maximum community benefits are achieved. Since the Companys
inception, approximately US$192 Million has been spent on
historical exploration and development costs in order to bring the
Aurora Gold Project to development stage. From this point, an
additional US$249 Million will be spent on the Aurora Gold Project
in order to achieve commercial gold production by mid-2015. The
Aurora Gold Project will be Guyanas largest foreign investment
in the countrys history and is projected to provide total revenues
to the Government of approximately US$960 Million through
corporate taxes and royalty payments over the life of the project. In
addition to its large capital investment and direct financial revenues
to the Government, the company is committed to sourcing local
services, goods and equipment purchases, in order to support local
businesses and communities.
It takes a special type of company to breeze over the investments
that have brought a project to fruition, in order to focus more on
the benefits to local communities and residents of said project, but
Guyana Gold is up there with inspirational organisations. In this case,
all that glitters definitely IS gold.
Guyana Goldfields mission is to create a sustainable mining operation that delivers top quartile shareholder and stakeholder returns, while achieving industry leading performance in health, safety, stewardship of the environment, and social responsibility.