Latest update March 29th, 2024 12:59 AM
Dec 03, 2018 News
While the Coalition administration is thrilled about the coming of oil, it has assured that the forestry and mining sectors development would not be placed on the backburner.
Specifically giving this assurance recently was Finance Minister, Winston Jordan. The economist said it is only through a diversified economic base that the Coalition government can anchor the sustainable prosperity of the nation. As such, he said that a clear legislative and policy framework that enables improved governance and the development of a sustainable extractive sector is necessary.
In 2019, the Finance Minister said that work on this aspect of extractive sector management will advance for the forestry and mining sectors. He said that the recently updated and approved National Forest Plan and Policy Statement will see a shift in emphasis from primary timber products to value-added downstream goods, as well as ecosystem services.
Further to this, Jordan said that the citizenry will also see a clearer vision articulated for the mining sector, in 2019, with stakeholder input factored into a 10-year Mineral Policy Framework and Plan.
The economist said, “Our mining and forestry sectors do not exist in isolation. Therefore, a coordinated approach is needed to ensure that both foresters and miners are able to benefit from our natural resources in a responsible manner that minimizes negative impacts on the environment.”
Jordan added, “As such, by the end of 2019, trained regional coordinators will be placed in all 10 administrative regions to facilitate the resolution of conflicts that may arise between and among the mining, forestry and environmental sectors.”
Additionally, the Finance Minister said that the Government has budgeted $279 million to finance the next phase of the forest inventory exercise. He said that the Government will continue mineral mapping to facilitate a more coordinated and sustainable management and utilization of the nations forest and mineral resources.
“Our pristine forests hold immense wealth flora and fauna too numerous to mention, timber, precious and rare earth metals, and diamonds, just to name a few. However, in the pursuit of economic development and in the face of an evolving extractive sector, we cannot ignore the environmental costs of these activities.”
In this regard, the Finance Minister said that over the years, the scale of mining has evolved from simple pioneering pork-knockers to industrial complexes. He said that this has come at a cost to our environment. While there is no denying that gold mining has, and will continue to support Guyanas development, Jordan said that the government must ensure that it works with all stakeholders towards the sustainable management of these resources.
He said that important steps have been taken already, including low-impact prospecting; integrated natural resource management; and, phasing out the use of mercury. In this respect, the economist said that the Guyana Geology and Mines Commission (GGMC) will aim to modernize and refocus its core functions such as geological mapping, in an attempt to reduce the collateral damage that results from prospecting, and create opportunities for exploration activities in non-traditional minerals such as rare-earth metals.
He said that the Government will also enhance its monitoring and enforcement of environmental regulations and codes of practices through increased inter-institutional collaboration, and greater satellite tracking of mining activities.
THIS IDIOT TELLING GUYANA WE HAVE NO SAY IN THE 50% PROFIT SHARING AGREEMENT WE HAVE WITH EXXON.
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