Guyana Goldfields Inc. signed an open pit contract mining agreement with STRACON GyM International SAC for the Aurora gold mine in Guyana.
The contract will cover 3.5 years of peak in waste mining requirements, allowing the company to focus on mining gold-containing ore for processing. STRACON is expected to start work July 1, according to a May 29 release.
Additionally, Guyana Goldfields initiated the bidding process for contract mining the initial underground development and has started moving the previously purchased underground mining equipment to Guyana. The company aims to start underground development in the fourth quarter.
The optimized life-of-mine plan for expansion at the Aurora mine is estimated to result in an additional 75,000 ounces of gold production over the next three years as a result of accelerated selective underground mining.
