GGMC extends amnesty for gold miners to June 30

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The Guyana Geology and Mines Commission (GGMC) has announced an amnesty for gold miners who are behind on their rental payments and are at risk of losing their concessions.

A previous grace period had come to an end on April 15 last. But according to a recent notice from the commission, miners will now have an extended grace period until June 30 in light of “numerous requests” from miners.

The offer is specifically for medium scale property holders in arrears.

However, the notice emphasises that miners whose properties have already been published in the Official Gazette as cancelled will not be eligible for the amnesty.

According to the notice, all interests on these arrears will attract a waiver of 50 per cent.

It adds that all property holders who fail to use this opportunity will have their properties cancelled.

Government had announced shortfalls in gold production for last year. Budgeting for 694,000 ounces, 653, 674 ounces were actually recorded.

According to data from the Bureau of Statistics, only Canadian company; Guyana Goldfields remained on production target.

Catering for 160,637 ounces, the company actually produced 168,112.

The other major gold producer, troy Resources Limited, produced 66,024 ounces… falling short of its target by over 3,000 ounces.

Small and medium scale miners were expected to deliver 482,613 ounces of gold. For 2017, they only delivered 419,538 ounces.

 

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