GGDMA looking for historic gold production this year

Georgetown : The Guyana Gold and Diamond Miners Association (GGDMA) is projecting a historic gold production target of 500,000 ounces for 2013.

The target seems within reach as gold declaration up to Friday last was in excess of 310,000 ounces and a report presented by Minister of Natural Resources and the Environment Robert Persaud revealed that the quantity of gold declared for the first half of this year increased by 23.23 percent over the quantity declared for last year.

Gold maintained the biggest producer in the mining sector for last year, with a production value in excess of $137B and accounting for 78.2 percent of total value of mining output.

President Ramotar expressed the need for partnerships and value-added mining practices to eliminate corrupt and criminal practices such as bribery.

During the opening of Mining Week and Award Ceremony at the Guyana International Conference Centre (GICC) last evening, the President conveyed his best wishes to the sector that has over the years been a major contributor to the country’s Gross Domestic Product (GDP) and a main source of job creation.

In his list of recommendations, President Ramotar envisaged a high quality jewellery sector and for bauxite, a smelting plant for aluimina/aluminum but in the absence of cheap energy the possibility of these investments seems impractical.

In wake of the recent fall in gold prices below the key $1300 an ounce mark, a concerned GGDMA has appealed for miners in the local sector to take precautionary measures by paying attention to cost reduction and to improve efficiency.

The association headed by Patrick Harding also wants support from the Government through the Ministry of Natural Resources and the Environment, chief among which is fiscal concessions.

Mining Week 2013 is being held under the theme “Clean Green and Responsible; Securing the Future of Mining.” It will feature a national exhibition on the forecourt of the GICC, the tenth national mining and quarrying conference, educational sessions and social issue and suppliers forums, introductory training for prospectors and an appreciation day at the Guyana Geology and Mines Commission (GGMC).