President David Granger last evening attended the launch of the 50th Republic Anniversary Commemorative Stamp and Gold Medallion at the Umana Yana, High Street, Kingston, Georgetown.
President Granger, who was accompanied by First Lady, Sandra Granger, said the 50th anniversary of the establishment of the Cooperative Republic of Guyana is a defining moment in history.
“The act of becoming a Republic allowed Guyana to exercise sovereignty over its own natural resources and to develop its own national symbols – including honours and awards – and, with them, our priceless national pride that is part of our ‘Guyaneseness,’ the President said, according to a release from the Ministry of the Presidency.
Granger said that gold and diamond mining have been traditional mainstays of the country’s economy and the sector has helped to sustain economic growth, earn valuable foreign exchange and generated employment for more than 16, 500 persons annually.
“The gold sector is an economic powerhouse. Gold mining accounts for 9.7 per cent of our Gross Domestic Product. Gold is our largest foreign exchange earner. The commemorative medallion which is being issued today is made of gold -pure Guyanese gold- which was mined from the bowels of our country and minted finely to enhance its value,” Granger added.
Minister of Natural Resources, Raphael Trotman said the unveiling of the gold medallion represents the manifestation of an idea that has evolved beyond expectations.
“I am humbled that as we step into our 50th year as a Republic, our natural resources, especially our gold has made a monumental contribution towards the safety, health and happiness…Guyanese and remains relevant and indispensable to our overall growth and development as a nation,” he said.
The medallion is 99.9 per cent pure Guyana gold, weighs one Troy ounce and is currently valued at $700,000. It is not legal tender.
The design on the one side of the medallion was done by 21-year-old artist Delon Craig, the release said. The other side has the logo of the Guyana Gold Board.
The release said that the first stamp depicts the historic mace which reminds of the country’s colonial origins. The Floating Production Storage and Offloading (FPSO) vessel, the Liza Destiny is on the other stamp, which Public Telecommunications Minister Cathy Hughes said symbolises Guyana’s promising future as an oil producing nation.
