Minister of Natural Re-sources and the Environment, Robert Persaud says investments in the mining sector have opened new and promising areas in the extractive industry which, coupled with the proper framework, are expected to net great gains for the nation.
He was speaking at observances held on Tuesday to mark the 33rd anniversary of the Guyana Geology and Mines Commission (GGMC).
Persaud told the audience comprising GGMC staff and other stakeholders that he was proud of the Commission’s achievements in mining and the wider country, at the celebration held at the Georgetown Club.
He noted that over the years the sector has greatly improved and now utilises more advanced equipment and new technologies, according to a Govern-ment Information Agency (GINA) report.
“Over the different phases of our country’s history, particularly in our post-independence period, we have been able to make some level of progress in developing the industry for our people,” he said.
He added that it now needs to be done more sustainably so that maximum benefits can be derived. In this regard, Persaud said, “the right types of institutions, mechanisms and a regulatory and supportive framework” are needed to support its operation.
“That is why the Guyana Geology and Mines Commission has been and will certainly continue to be very critical to the realisation of our natural wealth in a sustainable manner, particularly those in the extractive sectors,” he explained. Against this background, the minister acknowledged the commitment staff have displayed over the years and urged them to continue as their efforts determine the growth and development of the commission.
The minister also used the occasion to explain the industry’s current potential and the new and emerging ventures within the natural resources industry, including drilling for oil, manganese and uranium and iron ore. “When I talk about new and exciting times for us I am referring to the unchartered territories we are moving into within the extractive industry… also in new areas…in fact where the international community is keeping a close tab on our hydrocarbon potentials; oil and gas sector,” Persaud said.
Many regional and international investors have been approaching government to invest locally and the administration is committed to ensuring that the necessary support and resources are made available to train staff and stakeholders and re-equip the GGMC.
Persaud also announced that government has given the GGMC ownership of a spacious and modern building located at High Street. “As I said we are looking at much more exciting times and new experiences but, we all have to be prepared…how is it that we can actively engage and work with all our stakeholders in buying into our vision for the industry,” he said.
The High Street building has faced a series of problems.
