Guyana gold output expected to increase in 2004
Thursday, April 8, 2004
GEORGETOWN, Guyana: Guyana's gold production
is expected to reach 384,000 ounces this year compared with 376,440 ounces
last year and most of the output will come from its joint venture Omai mine,
the Guyana Geology and Mines Commission said Tuesday.
Omai mine, operated by Canada's Cambior
Inc., Golden Star Resources and the Guyana government, is expected to produce
around 234,396 ounces at a budgeted operating cost of $218 per ounce, the
commission said.
According to Reuters, Omai accounts for
around 70 percent of national output and produced 270,693 ounces last year and
319,431 ounces in 2002.
The remainder of Guyana's gold production
comes from medium-sized miners. Its Maple Creek mine last year produced 1,700
grams of gold mainly from bulk ore sampling and exploration, the commission
said.
Mineral-rich Guyana is also in talks with
Russian firms on investment in its bauxite and alumina sector and has held
negotiations with Cambior to create a bauxite mining and processing company.
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