History has been created in the mining industry, with Guyana recording the highest gold declaration of 458,105 ounces. The announcement was made by Natural Resources and Environment Minister Robert Persaud on Tuesday.
This declaration surpasses the previous highest level of 455,918 ounces, which was achieved in 2001, with the combined efforts of Omai and small scale operations.
Speaking at his Brickdam’s office, Persaud said the achievement is a stepping stone for Guyana.
“This is a proud moment for all those who work in the sector. It shows dedication and commitment of the miners and also addresses the concerns about under-declaration of gold or the claims of gold smuggling,” he posited.
Optimistic that the figures would increase by the end of 2013, Persaud said all of Guyana should rally with the mining sector. “We as Guyanese, we should celebrate, be proud of this and we should not demonise or chastise these hard working men and women.”
According to the Guyana Gold Board, in 2011, gold declaration stood at approximately 363,083 ounces, but the figure jumped at the end of 2012, with Guyana recording 438,645 ounces. The Natural Resources and Environment Ministry this year has placed major emphasis on green development within the extractive sector, which is within the framework of its low carbon economy.
Increased investment in the sector has resulted in innovative technology being utilised to affect more efficient recovery and production, the Natural Resources Ministry said.
In 2012, gold and bauxite exports represented 50 per cent and 10 per cent respectively of total export revenues, the ministry posited, noting that gold export earnings totalled US$ 716.9 million; 38.7 per cent higher than the 2011 level.
The average export price per ounce of gold increased by six per cent to US$ 1575.4 per ounce from US$ 1486.5 per ounce in 2011, the ministry pointed out.
“Mining is an important part of the Guyanese economy, contributing 10.6 per cent to the nation’s annual GDP in 2012. Between 2007 and 2012, there was 14 per cent growth of the total export value of mining. In 2011, it was estimated that 13,800 people are directly employed in small and medium scale gold and diamond operations and 19,000 indirectly employed in mining support industries.”
Based on the ongoing trend, the ministry anticipates that mining will continue to be the key driver in Guyana’s economy.
In an effort to alleviate the negative impacts of mining and promote sustainable development in the industry, the Natural Resources and Environment Ministry said its 2013-2018 strategic framework will reduce environmental degradation in the mining sector.
Improving reclamation of mined out areas, and providing initiatives to address impacts on deforestation and forest degradation from mining are among areas to be tackled within the strategic framework.
