Out of US$1.5B copper find at Toroparu, Guyana to get meagre US$23M

(Kaieteur News) – Canadian mining firm, Aris Mining stands to benefit heavily from a US$1.5 billion copper find at the gold-rich Toroparu Gold Project in Guyana via the agreement it signed with the country in 2011.

The Toroparu Gold Project is one of the largest undeveloped gold deposits in the Upper Puruni, Region Seven, Guyana covering a total of 105,684 acres of the country’s gold rich lands. Not only is it rich in gold with a discovery worth US$21.6 billion at current gold prices but it also contains silver and copper.

According to the company’s Preliminary Economic Assessment (PEA), its Toroparu concession contains some 260 millon pounds of copper, a fundamental metal in the entire world, especially in the electrical and engineering industry. Copper can be found in electric cables, all of our household appliances, motors, etc.