Chinese company taking over Goldfields to re-employ over 200 workers – Minister Bharrat

By Jarryl Bryan

Chinese mining company Zijin Mining Group Co., which will be taking over Guyana Goldfields, now that it has completed the acquisition process, has plans to rehire between 200 and 300 workers who were laid off from Aurora Goldmines.

This was revealed by Minister of Natural Resources, Vickram Bharrat, in an interview with this publication on Wednesday. According to Minister Bharrat, he had a virtual meeting with Guyana Goldfields’ Senior Vice President and former US Ambassador to Guyana, Perry Holloway, as well as an executive from the Chinese company, and the issue of the hundreds of laid off workers was raised.

“That was one of the major issues raised with them, as to the employment of the workers. They promised that on a short term, almost immediately after the transition, that at least 200 to 300 persons would be employed by the Zijin Mining Company. They have plans for expansion,” Bharrat explained.

“They mentioned to me that their plan for expansion is underground mining, which will be a first for Guyana. Our Government’s position is that we are pro-investment. We don’t have a problem with a company coming and investing in Guyana. We see this as a positive step.”
However, Bharrat made it clear that the company would have to first gain approval of regulatory agencies such as the Environmental Protection Agency (EPA) and the Guyana Geology and Mines Commission (GGMC).
“Definitely, they will have to go through the regulatory agencies: EPA, GGMC. They will have to fulfill all the requirements in terms of safety, in terms of environment, before that permit is granted,” the Minister explained. “Once these agencies are satisfied and recommend that we grant the approval, we will do so in the interest of the country. Because it means that hundreds will be employed and it means more revenue for the country,” Bharrat added.
According to the Minister, Holloway will be retained as the company completes its transition. Moreover, Bharrat said executives of the company plan to travel to Guyana for meetings with the Government when COVID-19-imposed flight restrictions are lifted.

It was announced on Tuesday that Zijin Mining Group Co completed the process for acquisition of Guyana Goldfields. According to a brief statement from Guyana Goldfields on Tuesday, the two companies had completed the transaction following the receipt of all the necessary regulatory approvals and all closing conditions being satisfied.
Guyana Goldfields had also announced that its shares, which were trading at approximately C$1.84 a share price as of Tuesday, are expected to be delisted from the Toronto Stock Exchange within one to three business days.
This publication had reported earlier this month that Guyana Goldfields had gone to court in order to secure a final order to close their deal with Chinese company Zijin, citing the interference of an unnamed third party and the need to resolve their claim.
The Canada-based Guyana Goldfields, which operated local subsidiary Aurora Gold Mine (AGM), had moved to downsize its operations since May 2020, after facing constraints from the COVID-19 pandemic coupled with other financial woes. It was also linked to the company’s transition into underground mining.
Hundreds of local workers were also laid off by Goldfields in the process, their job descriptions ranging from attendants to electricians to heavy-duty equipment operators and blasters. Workers were paid their severance, however, breaking from a track record in which workers had to take strike action over severance. (G3)