…Gold Board earned US$ 111,971,234 as 2019 declarations surpass 2018 target

THE Ministry of Natural Resources (MNR) has announced another record-breaking year of gold declarations for 2019, which has been declared at 634,905 ounces.

In a release, the ministry said the actual declaration for the year totals 634,905 ounces – some 18,682 ounces above what was declared in 2018 (616,223). Of the declarants, the Guyana Goldfields Inc. and Troy Resources stand as two large scale investors which, despite severe challenges and constraints, managed to have reasonably good production. Correspondingly, Licensed Gold Dealers, who purchased from small and medium-scale gold miners, contributed approximately 57.69 percent of actual declarations.

The ministry said it is important to note that the revenue earned by the Guyana Gold Board, on behalf of the Government of Guyana, has also increased. For 2019, this has amounted to US$ 111,971,234.84, equivalent to 79,702.849 ounces. This exceeds the revenue earned in 2018 (US$ 100,143,596.40) by US$11,827,638.44 (11.81 per cent).

The ministry commends the miners who made declarations despite the many challenges and constraints faced in the industry, not least amongst which, are a prolonged wet season and labour unrest, and is pleased that the country has surpassed the declarations of 2018.

“The MNR also acknowledges the efforts and responsible conduct of the declarants and praises the Board of Directors and staff of the Guyana Gold Board, who have been key facilitators of this process.” According to the ministry, as the year 2020 progresses, it is hoped that the practice of increasing these declarations continues through the recommended and accepted processes.

“The ministry recognises mining as a critical component of the Guyanese economy. As such, the Government of Guyana, and the MNR in particular, continues to promote the growth of the sector in the most sustainable way by providing regulatory, fiscal and infrastructural support to aid miners in their worthwhile endeavours,” the release noted.
In a recent release in response to some concerns outlined by miners, the ministry had assured that government remains committed to addressing the issues affecting miners across the industry.

“The ministry continues to cater to those dependent on mining activities, and will continue to work towards ensuring that all are able to benefit. Further, the ministry acknowledges the challenges that present themselves, and continues to urge those within the sector to remain committed to working with us as we aim towards the sustainable development of the sector. The ministry thanks the GGDMA, the GWMO and the NMS for their continued contributions towards the sector and hopes to remain working with both bodies towards the sustainable exploration, utilisation and development of our nation’s patrimony,” it said.
Boasting that it has a support base of approximately 100,000 Guyanese, the Guyana Gold and Diamond Miners Association (GGDMA) and the National Mining Syndicate (NMS) had demanded easier access to mercury-free technologies, improved infrastructure for the mining sector, the reduction, and, in some cases, the removal of taxes and duties on mining equipment, as the country heads into another General and Regional Elections.

In a paid advertisement last month, GGDMA and NMS, in a united voice, laid out their grounds for support in the March 2020 Elections, making it known that the more than 100,000 Guyanese and their families, who are directly and indirectly dependent on mining for their livelihoods, will be voting on issues that are specific to the industry. “Miners in Guyana demand more serious representation and less lip service from political parties,” the organisations said in the joint statement.