Troy Resources’ downsizing to be finalised in 2-3 weeks

…85% of workers will be laid off

Labour Minister Joseph Hamilton has met with officials of Troy Resources Limited amid the downsizing of its operations, in order to ensure that laid off workers are paid in accordance with the Termination of Employment and Severance Pay Act.
The Minister was accompanied by Chief Labour Officer Michelle Baburam while the company was represented by General Manager Colin Connors, Human Resources Manager Samantha Latchman, Manager Michael Rodrigues and Company Consultant Mohamed Akeel. Among the areas discussed was systems that will be implemented to recall some, if not most of the workers when normal operations resume.
It was outlined that 80 to 85 per cent of the company’s workers will be terminated, a process which will be concluded in two to three weeks. The representatives were asked to provide the Labour Ministry with records indicating how many workers will be affected, how many are to be paid off and other details.
As Troy Resources heads into underground mining and will be seeking workers with adequate skills, Hamilton reiterated to the company’s management the importance of providing a safe work environment for its employees and prospective employees who will be engaged in underground mining.
They were asked to liaison with the Ministry’s Occupational Safety and Health (OSH) Department, which will properly advise them on how to head into underground mining. Furthermore, Minister Hamilton stated that when the company is ready to commence underground mining, its representatives should meet with the OSH department.
Two months ago, the Australian mining company had reportedly hit a snag in its preparations for what was supposed to be its first underground mine in Guyana, the Smarts Underground Prospect in Region Seven (Cuyuni-Mazaruni).
Troy Resources announced in its market update that previous timelines for starting production at the underground site would be delayed, listing a number of underlying factors. These factors include additional drilling being requested by the geotechnical consultants and the resource calculation, as well as lack of contractors and service providers due to the COVID-19 pandemic.
It was noted that despite these setbacks, all the signs point to the Smarts Underground mine being a very valuable asset. According to Troy, approximately 290,000 ounces of gold have been mapped at the site.
“The geotechnical work illustrated that ground conditions for underground mining are excellent. However, previous estimates around the time of completion of reserve calculations, economic assessment and the commencement of production will not be achieved,” Troy Resources had said.
It was also noted that they have been trying to get a permit for the underground mine for some time now. One key challenge has been that there has never been an underground mine developed in Guyana.
According to the Australian company, this means that the Guyana Geology and Mines Commission (GGMC) has no experience in this area. However, the Government is highly supportive of the project and has already issued the company a permit to commence infrastructure works.