An ambitious gold production target of over 400,000 ounces of gold for 2010, has the Guyana Gold and Diamond Miners Association (GGDMA) calling on miners throughout Guyana to increase their gold declarations and production.
Executive Director of the GGDMA, Mr. Edward Shields, say that he hopes that miners will take full advantage on the current high price of gold and capitalise on it by selling more of their gold and increasing their production. He noted that this will allow for Guyana to get more value for the production.
The Association says that it wants to see declarations increase; noting that for every 1000 ounces sold, the Government of Guyana earns almost seventeen million dollars from royalties and taxes. The high prices now mean that the Government of Guyana will collect even more benefits from the mineral resources of the country.
The association in an earlier statement noted that more than 40% of mining operations have been affected by bad weather and this has significantly hindered the industry’s ability to reach the target. At present gold declaration is below what the association had projected.
