Newmont Suriname has reached 1 million ounces of gold poured at the Merian gold mine in east Suriname two years after commercial production began on October 1, 2016. Merian employs approximately 2,000 people and was built safely, on time and approximately 20% below budget, with total development capital of US$525 million invested by Newmont, the company said. Staatsolie, on behalf of the government of Suriname, owns 25% of the operation.
“Our partnerships with the government, Staatsolie and local Pamaka communities form the foundation of the mine’s success and we look forward to many more years of safe, efficient and responsible gold production in Suriname,” said Albert Ramdin, Newmont’s senior director for external relations in Suriname.
In 2018, the second phase of the Merian project was completed safely, on time and within budget with the construction of a primary crusher to process harder ores that will be recovered, as the mine gets deeper.
Based on current gold Reserves, Newmont Suriname projects a mine life of approximately 15 years for Merian. The company is also conducting exploration activities at Sabajo and in North and South Amazonia, which could further expand and extend production in Suriname.
The Merian gold mine is located approximately 60 kilometers (km) south of Moengo, Suriname, and is predominantly in the Pamakan area about 15 km west of the Marowijne River. Newmont Suriname LLC, previously known as Suriname Gold Company LLC, is a subsidiary of Newmont Mining Corp., which operates the mine on behalf of Suriname Gold Project CV, a Suriname limited partnership. Newmont Suriname is the managing partner, owning a 75% interest in the limited partnership, and Staatsolie Maatschappij Suriname N.V., Suriname’s state-owned oil company owns the remaining 25% interest.