Mining company to build cutter head dredge
By Nicosia Smith
Stabroek News
February 5, 2004
The Canadian gold mining company United Development International (UDI) says it has acquired financing to start constructing a cutter head dredge.
UDI already has two dredges mining over a 25-mile area in the Konawaruk and has teamed up with Guyana Primary Resources, owned by Sheik Hassan, to explore and mine for gold and other precious metals.
"We are very pleased to be in a position to add equipment to our Guyana operations," stated Robert Doherty president of United Development International in a press release.
Officials at United Development International say the cutter head dredge will be the mainstay of the river-based mining equipment. UDI says this will significantly increase their production and revenue once completed and working beside the suction dredges.
The cutter head equipment has the ability to penetrate the layer of cemented gravel to enable UDI to mine the richest deposits.
Company officials say information on the construction of the dredge and its completion will be forthcoming.
"We witnessed the production of the suction dredges and know that a cutter head dredge will produce significantly more gold because of its ability to break through and work below the cemented gravel," Doherty indicated in the release.
UDI plans to bring in a total of 30 dredges over a six to ten -year period.
The Konawaruk area is known for holding lucrative mining properties and the company's radar satellite imagery shows "exciting deposits," according to a January 25 report in Stabroek News.
In a press release from the company last month it was reported that the firm entered into a joint venture with Tumbleweed Inc (Guyana) for a claim of 190 miles on the Mazaruni river.