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GEORGETOWN, Guyana - A Canadian company says it will open a large mine in western Guyana after discovering vast gold deposits.
Guyana Goldfields Inc. says it found reserves of 2.5 million troy ounces (78 million grams) and expects the mine to be profitable for 12 years. Guyana is among the world's top 30 gold producers and officials say the mine will be among the 10 largest in South America.
Prime Minister Samuel Hinds said Thursday the discovery boosts a thriving mining industry. Miners last year produced a record 246,000 troy ounces (7.7 million grams) of gold, up 30 percent from the previous year.
Gold is one of Guyana's top exports.
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