-current figure at 327,000 ounces

By Alva Solomon
THE gold-mining sector is on track to out-perform other sectors of the economy this year as gold-declaration figures have currently reached a whopping 327,000 ounces and the figures are expected to eclipse the 600,000 revised target set this year.In 2013, gold-production figures peaked at an all-time high at 481,000 ounces. Last year, gold-production figures climaxed at 451,000 ounces , however, given the records to date, the target has been shifted up to the 600,000 mark.
Speaking at the Guyana Geology and Mines Commission (GGMC) 37th anniversary celebrations ceremony at the Parc Rayne Banquette Hall at Rahaman’s Park on Friday, GGMC Acting Commissioner Newell Dennison told those gathered that the figures so far are satisfactory.
“We are meeting our expectations in regard to our broad indications,” Dennison said.
He said the 451,000 ounces recorded for 2015 exceeded the budgeted figures by 10%. At the same time, the diamond sector raked in 118,450 carats, exceeding the budget by 97.4 %. This year, diamond figures have been recorded at 94.2% of the budgeted target thus far, indications that the sector is also performing well.
On the contrary, the bauxite sector is pegged at 55% of the previous year’s figure and Dennison noted that while the record for bauxite is “not in the direction we would want it to go,” the production figures for the sector are “holding its [sic] own.”
Last year total figures for bauxite were recorded at 1.5 million tons, only 85% of the budget. In 2015, Dennison said that the GGMC raked in a total income of $9.8B, figures which exceeded its budget by 29.4% and which represented an increase of 12.5% on the previous year’s figure. Royalties were recorded at $4.7B, a slight decrease from the previous year, he said.
Meanwhile, Minister of Natural Resources, Raphael Trotman, told those gathered that President David Granger often refers to the “Six Sisters” in the economy which are seen as the drivers of economic growth. Those include rice, sugar, timber, diamonds, gold and bauxite.
As it relates to the gold-production figures, Trotman said the commission needed to congratulate itself for regulating the industry. Speaking on the GGMC’s anniversary, he said that while it is good to celebrate, it is also opportune to reflect on the past, on the gaps that exist as times continue to change.
“The commission I believe must see itself in an endless and continuous process and state of renewal and adaption to remain both current to ever-changing technologies and the demands of stakeholders, whether they be small, medium or large in size,” Trotman said.
According to Trotman, a locally grown gold and diamond sector has emerged with some 130,000-plus individuals who are either directly or indirectly affected by mining, adding that other sectors of the economy are also benefiting from mining.
He said there are still a number of challenges for miners, the GGMC, and the Natural Resource Ministry, particularly for those who depend on mining for their daily bread. This includes the need for resumption of management of the organizational structure of the commission itself with the aim of improving the functions of the body.
He said a number of priorities are listed to be addressed, including the continual improvement of the GGMC as an organization and secondly, issues pertinent to miners, stakeholders, and the mining and petroleum sectors.

25 per cent one-off increase
Meanwhile, GGMC staff are expected to benefit from a one-off 25 per cent increase for the month of January 2015. Trotman announced that an offer made by the GGMC has been accepted by the Guyana Public Service Union (GPSU). This indicates that there shall be a 25% across-the-board payment to staff.
“Government sees that [increase] as indication of goodwill and recognition of an improved attitude within the theatre of award,” Trotman said. According to the minister, it will be seen as an incentive to the GGMC staff to continue on the trajectory to do better.
At the ceremony, GGMC Board Chair Stanley Ming disclosed that the issue of space for the facilities which operate under the GGMC’s umbrella has been on the front burner. To loud cheers, he said that within a year’s time an “adequate and significant” parcel of land will be identified for the commission’s offices.
The GGMC was created in 1979 from the Department of Geological Surveys and Mines, which itself was the successor to the Geological Survey of British Guiana. Currently, the commission is divided into five technical divisions, those being Geological Services, Mines, Environment, Petroleum and Land Management.