–if they are to overcome challenges in the industry

PRESIDENT Donald Ramotar is urging miners in the gold and diamond industry to use their ingenuity to weather the slump in the price of gold. He told them that despair should not be an option.

“In this situation, we should not despair and talk about crisis. The decline in prices should challenge us to do things in an even better way, so that we can keep our profit margins and continue to develop; continue to make a hefty contribution to the local economy,” he said.

Giving assurance of Government’s support, he hinted at further concessions being granted to the industry in form of duty-free concessions for four-door vehicles for miners, saying there are imminent.

President Ramotar stressed that the Government understands the important role mining plays in national development, and disclosed that there will be a growing role for mining and mineral resources development as the Government moves to diversify to other minerals and to add value to what is produced.

He said that Government was aware that the duty-free concession for a particular type of vehicle is one issue which has been hanging for a while, and he assured that the issue was being actively addressed.

He said that concessions are to be announced shortly, and those would reward miners who have been declaring their production of gold and paying the relevant taxes in a consistent manner.

He made those remarks during an address at launch of observances for Mining Week 2014, the annual salute to the contributions of mining to the well-being of the Guyanese nation and economy.

The launch took place at the Gravity Lounge in Camp Street, and those gathering included top officials from the Ministry of Natural Resources and Environment, the Guyana Geology and Mines Commission (GGMC), ministers of Government, members of the diplomatic corps, and large- medium- and small-scale miners.

The programme also included the grant of awards to miners who had made significant contributions to the sector and the economy during 2013.

The Ministry of Natural Resources & the Environment (MNRE) and the Guyana Geology & Mines Commission (GGMC) are holders of the Mining Week, being held under the theme: “Improving recovery, Reducing impact; securing the future of mining.”

Addresses were also made by MNR&E Minister Robert Persaud; Chairman of the Board of Directors of the GGMC, Clinton Williams; Commissioner of the GGMC, Mr Rickford Vieira; and President of the Guyana Gold and Diamond Miners’ Association (GGDMA), Mr. Patrick Harding.

Earlier, the president of the GGDMA had said that the sector had been hard hit by the recent plunge in prices.

He said: “When the price of any commodity drops from US$1800 to US$1300, and the costs of production remain the same, the situation becomes critical.”

He expressed gratitude for Government’s support for the sector in the form of making more land available for mining, and in the form of providing roads for access to lands with mineral deposits; but he argued that the sector would need more help if the operators are to survive the hefty decline in prices.

Awards were given to Chunilall Baboolall and to Ryan and Julio Perreira for production in gold; and to M B&P Persaud Mining for production in diamonds. Stone quarrying drew awards for BK International and Toolsie Persaud Ltd. Sand mining gave Lennox John and Cecil Persaud their awards; and Responsible Environmental Stewardship gave Raymond Khan his award.

Mohamed Enterprises and Eldorado Trading were recognised as the top gold dealers for 2013, and were awarded accordingly.

(By Clifford Stanley)