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… to introduce first ever underground miningOne of South America’s largest gold mines and Guyana’s second largest gold extracting operation since the departure of OMAI in 2005 is expected to pour in the first of thousands of gold bars in 2015. On hand is a US$238M Aurora Gold Project. Canadian –based Guyana Goldfields Inc. (GGI) officials, during the projects launch at the Conference Centre yesterday, added that Guyana will also see its first ever underground mining set up; extracting ore to be processed.Sedgman officials explaining to attendees the extent of their work.With this multi-million dollar venture Guyanese are said to be benefiting immensely. The greatest prize is in the areas of local employment, training and remittances to the local economy. Project officials said that some 400 to 500 locals would be employed during operations, while the workforce would be primarily, 90 to 95 percent locals.Employees also stand to benefit medically; and will attain training from foreign experts in technical skills,Wholesale Jerseys US, geological, underground and surface mining; managerial,Cheap Jerseys Free Shipping, leadership and professional development. The company has also vowed to provide during its beyond 17-year mining life span, health services to other miners in the Aurora Region Seven district.GGI has embarked on attaining a total 3.29 million ounces of gold, averaging 194,000 ounces per year. GGI has further executed a “Heads of Agreement and Term Sheet”, documenting the principal terms and conditions with joint venture partners, Sedgman Limited and Graña y Montero for the full engineering,Cheap Jerseys Paypal, procurement,Jerseys Cheap Wholesale, and construction (“EPC”) of the initial processing facility and power plant.”Of an explained four-phase mining process, Aurora is at the second stage which speaks to the development of the mine during its lifecycle.  At the first phase of exploration and pre-development, more than 250 Guyanese were hired; this stage involves investment, exploration.The next phase; development and construction involves up to 900 locals being gainfully employed.  Actual operations are to start in 2015; and beyond will some 500 persons earning jobs.Scott Caldwell, GGI CEO explained that the company is pleased to be undertaking such a massive project in the country. This is an extremely significant milestone for the Project and for the Company. We are excited to be moving the Aurora Gold Project forward and have engaged an excellent team whose strengths complement each other.”Chief Operations Officer Lello Galassi said, “We have set ourselves 2015 as the first gold pour.”He said,Cheap Hockey Jerseys, “Open mining is where we start and then it is an underground mine 18 months later, to increase production.” That operation is expected to start 2018.Natural Resource Minister Robert Persaud congratulated the company on the project before accusing sections of the society of stifling government process. “As a nation we have always been talking about the rich potential that we have and we need to unleash the potential especially in developing and ensuring that our people and country benefit from resources but we will not be able to do so if we sit around… and that is where we have to give incentives to both locals as well as creating an environment for pouring investment.“I want to speak to that issue because it seems as if every time there is an effort made to ensure that we attract some form of investment to move the government forward, there are probably segments of the society which take that to mean, sell out or buy out or whatever terminology used.”Persaud announced however that as of yesterday morning the gold production declaration was in excess of 452,000 ounces,Adidas Superstar Shoes On Sale, surpassing the 451,000 target.  After explaining environmental considerations; he expounded on the benefits of interior community development and economic mobility.It was explained that the proposed EPC contract will be on a “not-to-exceed” basis, valued at US$137M. The agreed general terms and conditions for the engineering, procurement,Wholesale NBA Jerseys, management and construction of the initial 5,000 tons per day (“tpd”) processing facility and power plant for the “not-to-exceed amount” of US$137M, while the total capital cost for the entire project is now estimated to be US$249M.”Sedgman Limited is a services company involved in test work, design, construction and operation of mineral processing plants. Graña y Montero is the oldest and largest engineering and construction company in Peru and is publically listed on the Lima and New York Stock Exchange with a market capitalization of over US$2.3B.