Gold export earnings could top US$600M – Ganga

TIMES INT'L

By Indrawattie Natram

Natural Resources Minister Robert Persaud (right), businessman Alfro Alphonso (left) and another official in discussion during the launch of the Guyana Gold Board branch in Charity (Indrawattie Natram photo)

Guyana could earn in excess of US$600 million from gold exports this year, Guyana Gold Board Chairman Gobind Ganga said on Monday. He was at the time addressing a gathering at the opening of a branch of the entity at Charity, Essequibo Coast.
Ganga said the new branch is being opened at a time when the gold market is quite volatile owing to global political and economic turmoil.
He said the Guyana Gold Board is an economically viable entity that provides services that benefit a number of stakeholders, including the miners, the dealers and sister organisations.
Noting that export earnings from gold could reach record levels – more than an estimated  US$600 million, Ganga said the earnings undoubtedly provides for the building of resilience in the economy from both external and domestic shocks.
He said in an effort to sustain the sector, gold producers are being urged to undertake the necessary measures to improve productivity and efficiency so that even if there is a decline in prices, production would remain viable.

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