Latest update March 18th, 2024 12:59 AM
Nov 16, 2019 News
A dozen prospective concessions have been approved for them to be developed into production mines.
However, Government has set conditions including how the companies have to operate.
Following almost two years of planning and preparation, the Ministry of Natural Resources yesterday said it has agreed with the Guyana Gold and Diamond Miners Association (GGDMA), to a number of mining properties being converted from prospective to mining permits.
“These conversions apply to lands previously held, for a number of years under prospection permits and now clear the way for them to be developed into production mines.”
The mining companies and miners to benefit from this facility are Queensway Inc.; Aranka Gold Inc.; Innovation Mining Inc.; Major Miners Inc.; Cuyuni River Ventures Inc.; Sun and Sand Mining & Minerals Inc.; Saratu Phillips; Clarence Grannum; Alfro Alphonso; Guiana Shields Resources Inc.; Precious Metal Mines Inc. and Adamanitum Holdings.
It was explained yesterday that the GGDMA had requested this facility in 2018 for a few of its members who had desired to have their mining properties that would be converted from prospection to mining.
However, there are conditions.
The operators will have to utilise new technologies that reduce the use and impact of mercury; employing 50% of labour from areas near to the mine; providing scholarships for training and other socio-benefits for communities contiguous to the mines and formulating an approved reclamation plan for the mine after closure.
“This measure is expected to increase mineral production and boost direct foreign investments into Guyana’s economy. The two sides met (yesterday) to finalise the process and to discuss matters of concern and interest such as continued engagement with President Granger, the functioning of the Closed Area Committee, maintenance of roads and public infrastructure, and mercury use.”
Currently, there are only two large scale mining operations- Aurora Gold Mines and Troy Resources.
The latter is facing major problems after a fatal mining pit accident halted operations.
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