The Guyana Geology and Mines Commission (GGMC) and the University of Guyana (UG) yesterday signed a Memorandum of Understand-ing which will see the GGMC committing $18.7M to the education institution’s Faculty of Technology for the next two years.

The money, among other things, will be utilized for scholarships for employees of the GGMC to attend the university. In a brief statement at the signing ceremony, Chairman of the GGMC Board, Ronald Webster noting that the mining industry needs trained professionals, said that over the past two years, the GGMC had spent $42M in training.

He stated that while there was a global recession, gold has maintained its momentum. “The environmental concerns are critically important”, he added.

Meantime, Acting Vice-Chancellor of UG, Tota Mangar said that the university was pleased noting that it was the third such ceremony, with the last programme ending last year. He said that the renewed MOU was timely and appropriate, recounting that it was several months ago that the GGMC had donated US$25,000 for the Faculty of Technology for a library.

GGMC’s Administrative Manager, George Scotland, said that the collaboration between the two entities started sometime back and every two years, they renew the MOU.

He declared that it was not only the staff of the GGMC that benefitted from the scholarship programme but others as well and the benefits not only accrue to the GGMC but the industry as a whole.  Commissioner of the GGMC, William Woolford pointed out that at the University’s last graduation exercise, two staff members had obtained distinctions.