With declared production of 88,000 ounces last year which fetched an estimated US$158.4 million, the Chinese-owned Zijin Mining, formerly Aurora Gold Mines, is up to date in paying its royalties, Minister of Natural Resources Vickram Bharrat says.
“Based on my advice, they are in good standing,” the Minister of Natural Resources told Stabroek News when asked if the company was paying its share of royalties and if it had any arrears.
He was asked the question in light of Australian gold miner Troy Resources Limited absconding from the country without paying $2b in royalties.
The company which operates in Region Seven, declared that for 2022, it produced some 88,000 ounces of gold. Gold price for last year averaged US$1,801 per ounce.
