GGMC to resolve BOSAI’s royalty dispute in 10 days – Chairman

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 By Kurt Campbell

GGMC's Chairman Clinton Williams (R) and Minister Robert Persaud (L)
GGMC’s Chairman Clinton Williams (R) and Minister Robert Persaud (L)

[www.inewsguyana.com] – Chairman of the Board of Directors of the Guyana Geology and Mines Commission (GGMC), Clinton Williams says the Board will make a definitive decision in relation the royalties dispute with the bauxite company BOSAI Minerals within the next 10 days.

Member of Parliament for the main opposition party – APNU – Joseph Harmon had said  he was unconvinced that the Ministry of Natural Resources and the Environment has a handle on the royalties that BOSAI Minerals is supposed to pay Guyana for its bauxite extraction, which he estimates to be in the order of US$54 million.

Harmon raised concerns too over a three-year moratorium on the payment of royalties to the government.

This sparked an investigation to be launched into the matter by GGMC.

“We are working hard to bring closure to the issue surrounding royalty payment. I assure you that it is a matter is engaging the attention of the Board,” Williams said.

He was at the time answering questions from Harmon during a meeting of the Parliamentary Sectoral Committee on Natural Resources on Monday, July 14.

He said according to information received, the Company has been paying taxes to the Guyana Revenue Authority (GRA). He said this has to be looked at since there is a provision for either to be done.

APNU Member of Parliament, Joseph Harmon.
APNU Member of Parliament, Joseph Harmon.

He said the GGMC is in the process of invoicing Bosai and a definitive decision will be delivered within 10 days.

Meanwhile, Natural Resources and Environment Minister, Robert Persaud pointed out that it was no simple issue to resolve, taking into consideration the legal and other implications.

He has called on the GGMC to make it a priority nonetheless to bring closure to the issue.
 

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