After two years of planning, the Natural Resources Ministry yesterday announced that a number of mining properties are to be converted from prospecting permit status to mining status, which is expected to benefit a number of big players in the industry and others.
The decision comes following an agreement between the Ministry of Natural Resources and the Guyana Gold and Diamond Miners Association (GGDMA) and comes with conditions attached, including utilising new technologies to reduce the use of mercury and employing at least 50% of labour from surrounding areas.
In a statement, the ministry said it and the GGDMA agreed to the conversions, which apply to lands previously held for a number of years under prospection permits and now clears the way for them to be developed into production mines. “This measure is expected to increase mineral production and boost direct foreign investments into Guyana’s economy,” the ministry said, while noting that the two sides met yesterday to finalise the process and to discuss matters of concern and interest, such as continued engagement with President David Granger, the functioning of the Closed Area Committee, maintenance of roads and public infrastructure, and mercury use.
The mining companies and miners to benefit from this facility are: Queensway Inc.; Aranka Gold Inc.; Innovation Mining Inc.; Major Miners Inc.; Cuyuni River Ventures Inc.; Sun and Sand Mining & Minerals Inc.; Saratu Phillips; Clarence Grannum; Alfro Alphonso; Guiana Shields Resources Inc.; Precious Metal Mines Inc.; and Adamantium Holdings.
It was noted that the GGDMA had requested the facility in 2018 for some of its members who had desired to have their properties converted from prospection to mining.
Additionally, the ministry said some of the conditions attached to the grant of the facility include utilising new technologies that reduce the use and impact of mercury; employing 50% of labour from areas near to the mine; providing scholarships for training and other socio-benefits for communities contiguous to the mines; and formulating an approved reclamation plan for the mine after closure.
