NATURAL Resources Minister Raphael Trotman on Monday told potential Canadian and other investors that Guyana is open to investment.
He made the declaration when he attended the 4th Annual Mines Ministers Summit in Toronto, Canada, which was hosted by Canada’s Mines Minister, Amerjeet Sohio, and formed part of the Annual Prospectors and Developers Association of Canada (PDAC) World Premier Mineral Exploration & Mining Convention.
More than 50 ministers used the platform to discuss common mining issues, with special emphasis on “responsible mineral supply chains.”
During his visit, Minister Trotman reportedly held bilateral talks with several Ministers of government besides Canada’s, as well as investors and financiers from various countries. He also attended and made remarks at the Guyana Mining Day and Cocktail Reception, during which events he highlighted Guyana’s over 150 years of successful mining that has seen several companies benefitting from the extraction of commercially-viable mineral resources to be found in the country’s greenstone belts, specifically gold, diamonds, and bauxite.
Minister Trotman said that though the foregoing resources are the most desired of the lot the country has to offer, as there are several other mineral resources currently being explored, among them manganese, copper, nickel, zinc, lithium and scandium and other rare earth metals. With regards to gold, however, Minister Trotman apprised his audiences of current major exploration being done in the country, highlighting companies such as the Guyana Goldfields Inc. Aurora project, and Troy Resources Limited’s operations. He pointed to the current manganese resources of 32.4M tonnes as indicated by Guyana Manganese Inc. and other companies involved in bauxite mining such as the Bosai Group, RUSAL and First Bauxite Inc.
On this note, the Minister stressed that foreign direct investment in Guyana’s mining sector is actively encouraged as it is critical to the country’s economic development. He said that his ministry; the Ministry of Natural Resources (MNR) has a well-established Public Affairs and Communications Unit (PAU) operating rules that offer all investors flexibility in establishing the infrastructure and operations necessary to enable their success in their investments.
Minister Trotman said the Ministry’s policies and regulations are always drafted in consultation with key stakeholders; therefore offers fair rewards for all stakeholders.
At the same time, Minister Trotman stressed that investors must respect the laws of Guyana and take time to understand and adapt to workers’ legitimate expectations and the labour culture. The Minister also highlighted the role of the Guyana Geology and Mines Commission (GGMC), also present at PDAC, as the premier regulator of mining and the repository of all geological data in Guyana. The minister was joined by Minister of Finance, Mr Winston Jordan, who gave the feature address at the Guyana Day event, and who himself held high-level meetings with Canadian ministers of government and other officials.