Gold production in Guyana on “upward trend”

By Samuel Sukhnandan

Natural Resources and Environment Minister Robert Persaud, GGDMA President Patrick Harding (third left) and stakeholders addressing the media on Friday

Guyana has recorded another historic first in the gold mining sector after 403, 000 ounces of gold were declared up to December 14th. This figure surpasses last year’s declared production of 350,000 ounces and is likely to increase by the end of the year.
The announcement was made on Friday by Natural Resources and Environment Minister Robert Persaud who credited the achievement to the collaboration between the ministry, the mining industry, and dealers.
Persaud said the initial target was put at approximately 373,000 ounces of gold, but the Guyana Gold and Diamond Miners Association (GGDMA) and miners set themselves a target of 400,000 ounces.
“It is a moment that we should be proud of and it shows that over time declaration is moving up,” the natural resources minister said.
He added that looking back at 2005 – which also saw the closure of the Omai Gold Mine, production went from 265,528 ounces to below 200,000 ounces. This figure has now doubled, with new methods boosting gold production.

Further increase anticipated
“We do anticipate a further increase and based on the trend, to have several thousand more ounces declared, because a number of operations are still very active,” Persaud stated.
Additionally, gold exports are currently valued at US$658 million; during the years of Omai Gold Mine, this figure was around US$123 million.
While admitting to having an issue with the under-declaration of gold, Persaud said he was confident that this issue would soon be addressed and declaration would be improved now and in the future.
Persaud also pointed out that all of the gold declared was from small- and medium-scale miners.
“The agreements that would have been signed with the large miners, they are still in the prospecting stage; they’ve developed their feasibility study and they’re looking somewhere in the range of 2014 to commence operations.”
While Persaud was reluctant to speculate on future gold production, the minister said they were looking at an “upward trend” and will be working with all stakeholders to ensure it was achieved.
GGDMA President Patrick Harding congratulated all stakeholders and said that it is a “proud” achievement not only for the sector, but the entire country.