Gold declarations dip by almost 8 per cent in 2020 – Gold Board

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The Guyana Gold Board (GGB) recorded an almost 8 per cent decline in gold declarations for 2020 according to the Gold Board’s head Eondrene Thompson.

The GGB looks on course to record reduced gold declarations for 2020 when compared to 2019, with preliminary figures so far showing a 7.97 per cent reduction in declarations.

Thompson, in an interview with Inews related that their preliminary figures show that for 2020, 584,291 ounces of gold was declared. However, she stressed that these figures are not final.

Eondrene Thompson, General Manager of the Guyana Gold Board

This publication understands that Eldorado Trading was the top gold producer.

In 2019, gold declarations were 634,905 ounces. Thompson attributed this drop to a period of inactivity from the two largest gold producers. She noted that one of them, Troy Resources, had at one point suspended its operations following an accident.

The other one, Aurora Goldmines, was previously managed by Canadian company Guyana Goldfields. That was until Goldfields moved to downsize and then sell its operations last year.