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Newmont gold mine opens in Suriname, seen boosting struggling economy

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Chris Powell

GATA

Published : November 19th, 2016

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FOLLOW : Georgia Gold Gold Mine Gold Reserves Oil Suriname

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Category : GoldWire


	MERIAN MINE, Suriname -- Suriname President Desi Bouterse and Newmont Mining Corp Chief Executive Gary Goldberg inaugurated Thursday the open-pit Merian gold mine, which is expected to give a boost to the small, economically struggling South American country. The mine has gold reserves of about 5.1 million ounces and its annual production is expected to average between 400,000 and 500,000 ounces during the first five full years of operation. Suriname's state-owned oil company, Staatsolie, has a 25 percent stake in the mine. "Never before did our country have the courage to participate as an equal partner in such a mining venture," Bouterse told hundreds of guests and mine employees at the opening ceremony. ... ... For the remainder of the report: http://www.reuters.com/article/us-suriname-mi...t-idUSKBN13D08Z

Data and Statistics for these countries : Georgia | Suriname | All

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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.

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