2015 Budget to include concessions for miners

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Minister of Governance, Raphael Trotman. [Jules Gibson Photo]
Minister of Governance, Raphael Trotman. [Jules Gibson Photo]
[www.inewsguyana.com] – Local operators in the gold mining industry are feeling the impact of falling international prices. The operators have approached the Government requesting interventions that would ensure that the trickledown effect of the falling prices does not cripple the sector in Guyana.

Minister of Governance Raphael Trotman, who today briefed media operatives at the Ministry of the Presidency, disclosed that it is the intention of the Administration to provide some concessions in the 2015 budget.

The Minister who is also responsible for the natural resources sector, disclosed that representatives of the Guyana Gold and Diamond Miners Association (GGDMA) recently met with Minister of Finance, Winston Jordan, and subsequently President David Granger.

“The stark reality is that not everything that is asked for can be afforded, but certainly the GGDMA representatives left with a good feeling that concessions are going to be offered in the 2015 Budget,” he said. 

According to Trotman, the representatives pointed to the falling gold princes internationally, and the bad weather which has affected access to mining camps, as the main issues currently affecting the sector.

[File Photo]
[File Photo]
APNU+AFC had promised in its 100 Day Plan to look at assistance for identifiable holders of small mining concessions

The Administration, since its accession to office, has held consultations with stakeholders in all areas of production and development in Guyana, to chart avenues of support for the enhancement of the respective sectors.

President Granger is particularly concerned about the welfare and standard of living of all Guyanese, and he has and continues to ensure that his Government implement policies and programmes which target specifically, the alleviation of poverty.

In order to promote job opportunities and increase production in the productive sectors of Guyana’s economy, the Administration has committed to the waiving of duties on fuel, tools and small scale mining equipment, bought by identifiable holders of small concessions, as part of its 100 day plan. [Extracted and modified from GINA]

2 COMMENTS

  1. Concessions to miners need to be tightly linked to improvements in environmental performance in the mining sector. The miners, in the efforts at compliance need to be educated on the fact that improved environmental performance and more collaboration between the small scale miners would lower costs and increase their returns. The free for all in mining needs to end if we are serious about the sustainable development of Guyana.

  2. Guyanese must understand that their Government is not there to bail them out whenever they face these kind of crisis.We either decide on a free market approach to commerce, with a minimum of Government interference, or Goverment controlled commerce with big brother overseeing all business
    It was obvious that gold prices would fall as the stock markets recovered after the 4 year recession
    Sugar, got their warning nearly a decade ago.Rice is presently being warned , of the reality of facing world market prices.We either improve our productivity, by innovative thinking and actions or keep moaning about the removal of subsidised , protected markets and artificially high prices.The private sector should create and fund,a “think tank, with a seceteriat, consisting of highly skilled and knowlageble people in all the fields of commerce to advise the private sector on the way forward to profitability in our troubled industries.This has been done throughout the developed and developing world with great success.We have the brains, knowledge and ability right here in Guyana, and can even tap the vast knowledge of our Guyanese brethren abroad. Remember I noted that the Private Sector must fund this, with government help if they are so inclined.
    Nothing in this world today is a free lunch, those days are long gone.
    So we act or allow Government to do the thinking and acting for us and keep our begger bowls outstretched.

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