Big Ekereku mining operation selling out

A mining company is selling out its entire operation at Ekereku, Region Seven (Cuyuni/Mazaruni) with the deadline for the submissions of tenders being today.

The reason for the sale is not clear but in an ad in Stabroek News, the company described the operation as fully equipped. In terms of mineral properties, this comprises nine river claims at Ekereku, nine medium scale mining blocks (mining permits) at several locations in Region Seven as well as 14 medium scale mining blocks (prospecting permits).

The mining equipment being sold include three excavators, a bulldozer, two fully-equipped 12-inch missile dredges and four fully equipped six inch land dredges. “The above-described mineral properties and mining equipment are sold together as a going mining concern,” the ad says while it noted that all offers are to be cash offers.

Last week, Reuters reported that gold has risen more than 10 percent so far this year on uncertainty over the pace of the U.S. economic recovery, worries about growth in China and renewed interest in bullion-backed exchange traded funds.

But some analysts said it will be hard for gold to sustain the gains, which have been driven by short covering and not physical buying. Current prices are about 30 percent below an all-time high of US $1,920.30 hit in 2011, Reuters reported.

On Thursday, gold fell 0.16 percent to $1,328.61 an ounce by late afternoon after it hit a four-month high at $1,345.35 the previous day before falling almost 1 percent on a dollar rally and surging U.S. home sales, Reuters reported.

Comments  

Van ploughs through crowd in Barcelona, killing 13

A police officer helps evacuate people after a van crashed into pedestrians near the Las Ramblas avenue in central Barcelona, Spain August 17, 2017.

Sophia pillion rider dies in bike incident, husband questioned

A post-mortem examination is expected to be performed on the body of housewife Janice Edwards, 38, of 121 ‘C’ Field, Sophia, ECD, to determine the cause of her death.

China Railway gets major T&T road project

A sketch of the proposed Curepe Interchange (Trinidad Guardian) China Railway Construction Corporation (CRCC) has been awarded a $221.7 million contract by the National infrastructure Development Company (Nidco) to build the controversial Curepe Interchange, the state company’s chairman Herbert George has confirmed.

Evidence in alleged plot to kill President was unreliable – Police legal advisor

Legal Advisor to the Police, retired Justice of Appeal, Claudette Singh yesterday testified that there was insufficient evidence in the allegation made by Andriff Gillard of an alleged plot to assassinate President David Granger.

By ,

City to vote on parking meters report

Today at 2 pm the 30 councillors of the Georgetown City Council will once again cast a vote on the future of metered parking in the city and several of them have told Stabroek News that they want to be sure their vote accurately represents a mandate from residents.

By ,

Your browser is out-of-date!

Update your browser to view this website correctly.

We built stabroeknews.com using new technology. This makes our website faster, more feature rich and easier to use for 95% of our readers.
Unfortunately, your browser does not support some of these technologies. Click the button below and choose a modern browser to receive our intended user experience.

Update my browser now

×