A UNITED Nations Development Program (UNDP) study, which has recommended measures to improve the administration of the mining sector, has been completed, and is to be handed over to the Government of Guyana this month.Senior Policy Analyst at the Ministry of Natural Resources and Environment (MNR&E), Mr. Bobby Gossai, said Monday that the recommendations, which are to be carefully considered, are likely to be taken on board by both and the Guyana Geology and Mines Commission (GGMC) and the MNR&E.

The study on the environmental and economic impacts of investments in the mining sector was undertaken with the assistance of two international experts from the UNDP, in collaboration with the Government of Guyana, and has been facilitated through the MNR&E.
The two experts had been assisted by local experts and other stakeholders, who reviewed drafts and contributed to the study.

The study had compared and contrasted the three sources of investments (foreign, domestic private and public) in the mining sector in terms of their impact on fiscal revenues, on employment and local content, on the environment, and on technological development.
The study had compared the impact of these investments in Guyana with other countries which have similar mining industry structures, including some in Latin America, the Caribbean and other Regions.

In respect to environmental impacts of investments, the report had strongly suggested that if the environmental costs and risks are not adequately incorporated into policy, a great likelihood existed that there would be major environmental damage from such investments.

Some of the recommendations in the finished study include improved extractive sector governance; strengthening policy and legal framework and institutions; improving socio-economic management and conflict prevention; improving fiscal management and fiscal equalisation; and enhancing local skills for increased development benefits.

These measures are recommended to be implemented in the short term – within the next 6 to 12 months, besides the recommendations for sustainable development of the mining sector, for improved public awareness, for socio-economic management, and for prevention of possible conflict in mining areas within the long term of 12 to 36 months.