Wednesday, 7th April 2004 (2776 views)

Guyana's gold production is expected to reach 384,000 ounces in 2004, compared with 376,440 ounces last year, according to the Guyana Geology and Mines Commission.

The Guyana Geology and Mines Commission claims that most of the output will come from its joint venture Omai mine, operated by Canada's Cambior Inc, Golden Star Resources and the Guyana government.

The commission revealed that the remainder of Guyana's gold production comes from medium-sized operations, such as the Maple Creek mine, which produced 1,700 grams of gold last year.

The Omai mine is expected to produce around 234,396 ounces at a budgeted operating cost of $218 per ounce this year and currently accounts for around 70 per cent of national output, according to Reuters news agency.

Guyana is also reportedly discussing potential investment by Russian firms in its bauxite and alumina sector and has talked with Cambior about creating a bauxite mining and processing company.

 

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