WHAT do Australians, Guyanese and Canadians have in common? As the three countries lie on three different continents, they are by no means close by on the map; yet there is nonetheless one important geographic similarity. Australians, Guyanese and Canadians all live in some of the most sparsely populated countries in the world.

In fact, Wikipedia estimates that there are only 13 countries more sparsely populated than Guyana, two of whom are the previously mentioned nations. This is of course due to how vast they both are, and the relatively small Guyanese population size. What this similarity also implies, however, is that each nation has a very large endowment of natural resources relative to its population.

Guyanese who are aware of the dynamics of the local mining industry will note that there is a significant local presence of Australian and Canadian mining companies. This is no accident, as the two countries have well-developed mining industries and are therefore well-placed to invest in our vast interior region. But doesn’t this mean that Guyana might analogously be well-placed to develop its own major mining firms and industry?

Finance Minister Jordan spoke at length recently about new investments in mining here by Canadian companies with expertise in underground mining. We should take every opportunity to learn from such companies and others with a significant presence, so that we can develop our industry beyond more basic operations such as current surface gold mining.

The minister mentioned that Guyana’s government appreciates the challenges our firms face as we attempt to grow the sector, in particular the large funding hurdles that must be crossed. To this end, international partnerships are encouraged, so as to provide an avenue for that investment. Investment in mining research is also a critical complement to seeking these partnerships as we are much more likely to attract partners if we have the technological knowledge to maximise productivity.

The end goal should be to have several large firms operating in our mining sector, which are not only able to extract local minerals, but can seek opportunities to do so elsewhere, perhaps due to their advanced techniques. A major Guyanese mining firm that is able to operate in similarly sparse Suriname would be a towering signpost of national progress and business development.

Australian and Canadian mining companies certainly did not reach great heights overnight, so an investigation of their history should certainly yield insights into national development principles that we potentially adopt. Being open to learning from such histories and then thinking strategically as to how to apply lessons can only help Guyana get the best out of its analogous resource potential.

It is heartening to hear of growing international investment in our mining sector; and it will be even more encouraging if local firms can develop in tandem through learning from these investors and their countries’ histories. We must strive to maximise our large resource endowment, just as Australia and Canada have, if we are to build lasting national prosperity.