By Tracey Khan – Drakes
[www.inewsguyana.com] – Minister of Natural Resources & Environment, Robert Persaud and Head of Troy Resources Guyana Inc, Ken Nilsson today signed a Minerals agreement in the presence of President Donald Ramotar and other officials at the Office of the President.
The agreement sets the operating parameters for the Company and also defines the responsibilities of both parties.
According to Minister Persaud, “The agreement also reduces uncertainty for all parties; it is transparent, confirms commitments and acknowledges the desire to work together with the Government in the task of providing for a better investment climate and to move the Country towards a better tomorrow.”
He also spoke of the mutual benefits that will be derived from this multimillion dollar agreement, for the company and people of Guyana which includes the creation of some 500 jobs.
Persaud highlighted the fact that the agreement like many others was done with the aim of doing what is best for the Guyanese people and as such it should be maximized to the fullest by all.
The Company says it remains committed to its investment in Guyana and is continuing to advance the Karouni project, with an estimated start date of mid-2015.
Meanwhile, Nilsson noted that the economic effects of this project will be “fantastic.”
He also expressed hope that this investment will be viewed positively across the political spectrum for its continued advancement.
Additionally, President Ramotar in welcoming this sizeable investment said it represents investors’ confidence in the country’s stable macro-economic performance.
The agreement is expected to result in the sustenance and further development and growth of the mining sector which is contributing significantly to the macroeconomic stability of the country.