THE Guyana Gold and Diamond Miners Association (GGDMA) has welcomed the 2026 National Budget, saying the measures announced by Senior Minister in the Office of the President with Responsibility for Finance, Dr. Ashni Singh, demonstrate the government’s continued commitment to supporting the mining sector, particularly by lowering operating costs, encouraging production and advancing the modernisation of the industry.
In a statement issued on Tuesday, the association pointed to the strong performance of the sector in 2025, when gold production grew by an estimated 11.6 per cent, with total declarations reaching 484,321 ounces. It noted that while most of the increase came from a 15.5 per cent rise in declarations by large-scale operators, there was also a 45.6 per cent increase in declarations to the Guyana Gold Board, supported by stronger compliance and enforcement.
The GGDMA said several measures in Budget 2026 will bring direct relief to miners. Among them is the removal of all duties and taxes on all-terrain vehicles, which is expected to ease transportation challenges in difficult terrain, and the removal of taxes and duties on outboard engines up to 150 horsepower, reducing the cost of river transport.
The association also welcomed the introduction of a simplified flat tax regime for the importation of double-cab pickups. Under the new system, pickups with engine capacity below 2,000 cc will attract a flat tax of $2 million, while those between 2,000 cc and 2,500 cc will be subject to a flat tax of $3 million, regardless of vehicle age. The GGDMA said the change brings clarity and predictability to vehicle importation costs for miners who rely on these vehicles to move personnel, tools and supplies in the hinterland.
In addition, the decision to maintain a zero per cent excise tax on petroleum products was described as critical, since fuel remains one of the largest operating expenses in the sector.
The association also welcomed increased investment in hinterland infrastructure, including the allocation of $10 billion to begin works on roads in areas such as Achiwib, Kaburi and Karisparu, which it said will improve the safe and efficient movement of equipment, supplies and personnel.
Further, the GGDMA praised the government’s continued investment in the maintenance and expansion of hinterland airstrips. It noted the development of airstrips at Aishalton, Kaieteur, Karisparu, Kwakwani and Paramakatoi, as well as ongoing works at Ekereku Bottom, Jawalla, Kaikan and Matthew’s Ridge. The association also said that an additional $4 billion has been identified for 2026 to complete existing projects and begin upgrades at other locations, including Mahdia and Linden.
Beyond infrastructure and cost relief, the GGDMA reiterated its support for the government’s efforts to formalise the gold sector and improve traceability, including mandatory local bank accounts, updated personal records for miners and the recently launched high-tech mineral mapping initiative.
With gold declarations projected to reach 510,450 ounces in 2026 and the subsector expected to expand by 5.4 per cent, the association encouraged miners to take full advantage of the incentives in this year’s budget and to continue improving compliance and co-operation to reduce leakages.
The GGDMA said it remains committed to working closely with the Ministry of Natural Resources and the Guyana Geology and Mines Commission to ensure that the measures in Budget 2026 deliver lasting benefits for the mining sector and the country as a whole.