May 11, 2023 News
Kaieteur News – The Government of Guyana has finally published the mining contracts for companies operating in the country.
The release of the agreements comes following a two-year long protest by this newspaper for citizens to be privy to the terms and benefits for the parties engaged. In fact, since 2019 when Guyana became a member of the Extractive Industries Transparency Initiative (EITI), the country agreed to adhere to several requirements. In this case, EITI requirement 2.4 (a) of the 2019 Standard states that Guyana should publicly disclose all mineral agreements entered into force prior to the reporting period, in this case, 2019.
Although the requirements were known to the administration, it continued to make excuses to avoid the release of these contracts. In fact, this newspaper reported in December last year that Vice President Bharrat Jagdeo dodged the matter on four different occasions. During a press conference last month however, he publicly committed to releasing the fiscal terms for all mining agreements. This was the second time the Vice President promised to “personally intervene” for the release of the fiscal terms of all large-scale mining contracts.
The Vice President made a similar commitment in August 2022 during an appearance on The Glenn Lall Show aired on Kaieteur Radio. While appearing on that radio programme, he told the Kaieteur News’ publisher, Glenn Lall, “I don’t see the reason why many of these are not in the public domain already. I’ll find out about it.”
When pressed further Jagdeo said, “I can undertake to find out with you there, what provision the GRA [Guyana Revenue Authority] is so cagey about that it doesn’t want to release… I will undertake anything that is non-propriety that you get it released. I will personally now see that this happen.”
On the Ministry of Finance website, five mining contracts were published. They include, Aurora – Mineral Agreement; Guyana, GGMC and Reunion Manganese Inc. – Mineral Agreement; Guyana, GGMC, First Bauxite & Guyana Industrial Minerals Inc. – Mineral Agreement; Karouni – Mineral Agreement and Toroparu – Mineral Agreement.
An additional 13 Licences granted to the mining companies were also made public. They include Atlantic Golds Inc; Bauxite Company of Guyana Inc. 2006; Bauxite Company of Guyana Inc. 2010; Bauxite Company of Guyana Inc. 2012; Bosai Minerals Group Guyana Inc. 03 2004; Bosai Minerals Group Guyana Inc. 04 2004; Bosai Minerals Group Guyana Inc. 05 2004; Guyana Goldfields Inc.; Guyana Industrial Minerals Inc.; Guyana Manganese Inc. ML 022022; Guyana Mining License G-1000 000; Ontario Mining License and Troy Resources Pharsalus.
Kaieteur News had reported that there are currently 10 companies holding large-scale licences in Guyana. The Bauxite Company of Guyana Inc. holds three large-scale licences for the extraction of bauxite in Kurubuka (Block 22), North East (Block 5 in Kwakwani), Berbice (Block 38) for a total area of 16,691 acres, in which the Guyana Government has a state participation of 10% as confirmed by the National Industrial and Commercial Investments Limited (NICIL).
Bosai Minerals Group Guyana Inc. holds three (3) large-scale licences for the extraction of bauxite in East Montgomery, Tailing area and Dacouria for a total area of 3,063 acres, in which the Guyana Government also has state participation of 30 percent as confirmed by NICIL. Correia Mining Co. holds a large-scale licence for the extraction of gold and diamonds for a total area of 3,681 acres. Guyana Goldfield Inc. holds a large-scale licence for the extraction of gold in Cuyuni (Aurora) for a total area of 14,339 acres while Guyana Industrial Minerals Inc. holds a large-scale licence for the extraction of bauxite in the Bonasika Mining project for a total area of 18,940 acres.
Additionally, North American Resources Incorporated Ltd. holds a large-scale licence for the extraction of gold for a total 5,950 acres. Pereira Mining Company holds a large-scale licence for the extraction of gold, silver, and valuable minerals for a total area of 5,105 acres. Meanwhile, Romanex Guyana Exploration Ltd. holds a large-scale licence for the extraction of gold and valuable minerals for a total area of 11,110 acres; while Ontario Incorporated holds a large-scale licence for the extraction of gold and copper for a total area of 8,346 acres. Troy Resources Guyana also holds a large-scale licence for the extraction of gold for a total area of 15,160 acres.
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