User:Estheim/sandbox/Karouni Mine

The Karouni Mine is a gold mine located in Guyana in the Pomeroon-Supenaam region. The large-scale gold mining operation is managed by a local subsidiary of Troy Resources, an Australian company that also has operations in Argentina and Brazil. In 2016, the mine produced 1,957 kg of gold.

Deposits are located on the west-northwest trending Greenstone Belts of the Palaeoproterozoic Barama-Mazaruni Supergroup interspersed with extensive Granitoid Batholiths also of Trans-Amazonian age. Mining operations are done by both open-pit and underground mining methods with an estimated mine life of 5 years and containing total proven and probable reserves with a reported 3.0 Mt at an average grade of 3.41 g/t gold (more than 10,200 kg of contained gold) based on 2016 estimates.

Troy obtained rights to the project area from Azimuth Resources in July 2013. Troy commenced mining operations at the Karouni site in 2015.

In 2019, a geologist was killed in a mining pit collapse. The Ministry of Social Protection issued a shut down order on October 10, leading to layoffs of about 300 workers. The order was rescinded five days later, but the company suspended operations. Trading of company shares on the Australian Stock exchange was also voluntary halted until funding was obtained to restart operations late December 2019.