Georgetown: The Guyana Gold and Diamond Miner’s Association [GGDMA] extends its congratulations to the small and medium scale miners for achieving a production of 485,552 ounces of gold for 2020 totaling US$808,587,118 in Exports Earnings when compared to US$619,988,745 in 2019.
This production accounts for more than 75% of the country’s total gold production. The production figure, while slightly below 2019, is especially significant and noteworthy given that the mining industry, in 2020, faced severe challenges caused by the global pandemic, financial and infrastructural constraints and a difficult tax regime.
The GGDMA notes that small and medium scale miners have maintained their commitment to the production target and continue to perform. The Association therefore continues to lobby the government for additional reliefs and tax support for the local industry to increase productivity and mobilize additional investment.
The 2021 target for gold production has not yet been announced but the GGDMA remains confident that given the additional reliefs and tax support, our local miners will not only rise to the challenge but exceed them.
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