GGDMA revises gold production target upward

June 12, 2011 | By | Filed Under News 

…but mining affected by flooding

With the recent flooding in various locations of Region Nine, the Guyana Gold and Diamond Miners Association (GGDMA) is one of the agencies which have not suffered from the high levels of water in Region Nine.
The region is being affected by the overtopping of the rivers in the neighbourhood in the same way that the Essequibo River is affecting locations in Regions Seven, Eight and Ten.
Tony Shields, Executive Director of GGDMA, told Kaieteur News that the heavy rainfall has not only affected the mining industry but various sectors such as agriculture and education. Currently there is no mining being conducted in the above mentioned regions due to the intense rainfall and unpreventable flooding.
Kaieteur News understands that as a result of overtopping at certain sections of the Essequibo River, mining has become stalled in some outlying areas, where the water has risen to high levels.
Shields explained that though there isn’t much mining being conducted in Lethem (Region Nine) it is still a concern to the GGDMA about the residents’ health and safety as well as the fact that most of their assets and initiatives which they implement for sustainability will be hampered due to excessive flooding.
He stated that the GGDMA has exceeded expectations to date (above target projections) in the company’s goal to achieve a declaration of 320,000 ounces for this year.
Also, the GGDMA is now aiming to surpass that projected target and work for a revised target of at least 350,000 ounces by the end of 2011 with hopes that the market price of gold remains at US$1,500 per ounce.

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