THE Guyana Gold and Diamond Miners Association (GGDMA) is concerned about the unavailability of a foreign currency payment facility for miners, even as that body expresses concerns about the stalemate involved in passing the anti-money laundering bill, and the consequences that would flow from that development. 

Yesterday, the Association, noting with deep concern the rise of the cost of the US dollar to approximately G$212, reiterated its call for the Guyana Gold Board to make available to miners partial payments in foreign currency.

GGDMA President, Mr. Patrick Harding, has said that several members have called to express their concern over the consequences of Guyana defaulting on the Anti-money-laundering Bill, and Government’s apparent sloth in considering their request to be paid in foreign currency.

Many miners depend heavily on foreign currency to import parts, machinery and raw materials used in the extraction of mineral resources, and they are worried that a real drought of foreign currency would forestall development of their mining operations.

At a recent meeting with His Excellency President Ramotar, the Association had, among several issues raised, repeated its call for foreign currency to be made available to its members. The GGDMA is again calling for an urgent decision to be made on the outstanding issues it had raised with the President.

“While we are committed to reaching a national target of over 460,000 ounces, we cannot do this without the resources; and these include essential machinery and spares that are bought overseas with foreign currency”, Harding said. He also noted that, despite the drop in the price of gold on the world market, miners have remained steadfast in their production and their commitment to achieving the record declaration of gold for the year 2013.