Georgetown: Despite the challenges in the mining sector, Minister of Natural Resources and the Environment, Robert Persaud said that he is optimistic that the sector will remain economically viable, as it holds tremendous promise.
Minister Persaud announced that the latest gold declaration was just over 28,000 ounces for January, which is about 8% above the same period last year. “Our goal is to ensure that we have the sector being very aware of its environmental and social responsibility, and at the same time, being very strong economically,” Minister Persaud said.
In 2013, gold output in Guyana reached a record production of over 481,000 ounces; however, it wasn’t a challenging year for persons involved in the sector because of the tremendous fall in the price of the mineral. Minister Persaud said there has there has been some level of recovery in terms of the prices thus far for 2014.
He anticipates that there will be conditions which would allow for a more profitable mining sector, which also includes diamond, bauxite (which has also been doing well), and manganese. The overall goal he reiterated is to ensure that the sector remains robust because it contributes significantly to the country’s economic growth and development.
Minister Persaud said that there are short comings at the levels of the ministry, the relevant agencies and private sector. The minister explained his ministry along with the Guyana Geology and Mines Commission (GGMC) and the Guyana Gold and Diamond Miners Association (GDDMA) will be addressing more aggressively, social and environmental issues, and also the issue of compliance and enforcement. “There are short comings…but I think there is a collective way in resolving those shortcomings to make this sector work, and work well in the overall country’s interest,” he said
The ministry has also been moving to push “mercury free” mining. Minister Persaud said there is some level of admiration for the willingness of the sector to embrace the use of mercury free technology. The ministry has been engaging the commercial banks and requested proposals for them to manage a $1B mercury-free fund targeting small miners.
“If you are telling people about transitioning, the Government is not naive to tell people to throw away what they have,” he added.
The Ministry has also been seeking ways in which it can help the process, engaging miners, assisting to provide finances, and consulting other agencies for professional assistance in order to ensure that this technology is durable.
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