Suriname gold mine officially commences commercial production

This week the Merian gold mine in Suriname, South America, was opened and is expected to significantly boost the economically struggling country.

Suriname President Desi Bouterse and Newmont Mining Corp Chief Executive Gary Goldberg officially inaugurated the gold mine on Thursday 17 November, citing it as a “significant contribution” to the economy.

"This significant investment of a multinational of a magnitude and capacity like Newmont, proves that our small economy is able in bearing huge foreign direct investments which are indispensable to meet with the challenges and requirements of our economy in these days,” Bouterse said.

The Merian gold mine

Located 66 kilometres south of Moeng in Suriname, the Merian gold mine is an open-pit mine.

It has an estimated gold production of around 400,000 – 500,000 ounces of gold per year over the first five years of its mine life.

That mine life, is for 11-13 years.

Newmont began operating the project in 2004 and began construction in August 2014.

The mine consists of two open pits, a gold ore processing plant, camp accommodations, a power generating facility and related site infrastructure.

Newmont signed “The Cooperation Agreement” in June 2016, an agreement which will see Newmont promote preferential employment for the Pamakan Community as well as procurement opportunities for local businesses.

There is also the Community Development Fund, which is a fund dedicated to the sustainable development of the local Pamakan Community.

During construction, around 2,900 jobs were created and with commercial production now beginning there are around 1,100 people in employment – 20 percent of whom are Pamakans.

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