Guyana Goldfields Inc. is getting ready to invest more than US$120 million into its operations at Aurora for underground mining.
At a media brief on Sunday, the company’s Chief Executive Officer, Scott Caldwell, announced a move by the company that will see underground mining for gold, for the first time in Guyana.
The CEO said all safety measures are being examined as well as safeguards for the environment.
A feasibility study is currently being updated and will be made public by the end of this month. Underground mining in full could begin in another four years.
The CEO said underground mining is the future and will likely have better financial results for the company.
He explained that the company is currently “working on the study right now and will publish it at the end of the month”, adding that previous assessments puts the company on the pathway to begin underground mining by 2022, but there is the possibility that the mining could begin much sooner than the 2022 date.
According to the CEO, underground mining is very different from than open pit mining, pointing out that underground mining is very efficient and safe.
The company will start preparing its workforce for the transition to underground mining, as it also seeks to get more women and youths involved in mining and the natural resources sector.
Guyana Gold fields currently employs over 600 Guyanese and is launching a number of initiatives aimed at strengthening its presence in the communities where it operates.