Gold declaration at record levels
Gold production is on a record-breaking run for the year, with more than 100,000 ounces being declared as compared to the same period last year.
According to a government release, there has been an overall increase in gold production, declaration and sales, with production being recorded at 314,000 ounces, an increase of about 23 percent.
Last year, over the same period, Minister of Natural Resources and the Environment, Robert Persaud said gold production declaration was just about 207,000 ounces or about 107,000 ounces less.
“We have seen declaration and sales going up; sales to the Guyana Gold Board as well as to the private dealers,” he noted. Gold exports are also at a similar 314,000 ounces level, which is also significantly higher than those recorded for the same period last year.
“The sector is recording good performances…the sector has been doing well and has been creating a tremendous impact on our national growth and the economy as a whole,” Persaud said. He noted that the sector has been impacting significantly by creating jobs and lifting the welfare of the hinterland communities.
Gold prices have been at an all-time high as traders continue to bank on the precious metal.
In Guyana, sales of excavators have been breaking records as also with All-Terrain Vehicles and other mining supplies and equipment.
There has been a rush for the high paying work in the ‘gold bush’, much to the detriment of other sectors like forestry.
Meanwhile, the Ministry said it is continuing to collaborate with regards to the setting up of the mining school, which is intended to provide the specialised, skilled workers needed to support and propel the expansion taking place in the mining sector.
Minister Persaud said that the arrangements are progressing with regards to the establishment of the schools as the Ministry has entered into a number of bilateral agreements in this regard.
It was disclosed that only last week, the Ministry engaged in talks with a representative from the University of Texas’ Geo-Sciences Department, which is looking to provide support towards the realisation of the school.
“There is a lot of preparation taking place and we do hope that very soon we will be able to make available programmes at the school,” the Minister said. He stated that the Ministry has been engaging local and international specialists to ensure that input is up to global standards, and also meets the national requirements of the mining local industry.