Government to Restart Operations at Troy Resources and Rusal
The Government of Guyana, through the Ministry of Natural Resources, is making significant strides to restart operations at two major mining sites: Troy Resources in the Karouni Mine, Region Seven, and the Russian-owned bauxite company Rusal.
In a press conference held yesterday at the Guyana Forestry Commission Complex in Kingston, Georgetown, Subject Minister Vickram Bharrat announced that the ministry has been actively consulting with both local and international companies to explore the recommencement of activities at Troy Resources.
According to Minister Bharrat, the ministry has engaged with approximately four groups comprising a mix of Guyanese and international investors who have expressed interest in the Karouni Mine.
Two of these groups have already been given the opportunity to send their technical teams to the site for independent assessments.
These assessments included evaluations of the plant, the mining pit, and some exploratory drilling to determine the extent of the resources available. Minister Bharrat indicated that additional companies would be granted similar access in the near future.
Following these assessments, interested companies are expected to return with firm proposals for the resumption of operations.
Minister Bharrat emphasized the potential for a collaborative approach involving both local miners and foreign investors, given the substantial investment required to restart the mining operations.
In addition to the efforts at Troy Resources, the Ministry of Natural Resources is also working on plans to restart operations at Rusal.
While details on the Rusal initiative were not elaborated upon, the move signals the government’s broader commitment to revitalizing the mining sector in Guyana.
The minister also disclosed that 112 small mineral properties within the Troy Resources area have been allocated to small-scale miners, all of whom are Guyanese, underscoring the government’s focus on local participation in the sector.
These efforts are seen as part of the government’s strategy to boost economic activity and create jobs in the mining industry, which is a significant contributor to the country’s economy.
