Natural Resources Minister, Raphael Trotman have revealed the Government’s plans to establish its own gold refinery in its efforts to modernize the gold industry.
Speaking at a recent press conference, the Minister disclosed that a South African based company is soon to visit Guyana to commence the feasibility study on the project.
Noting that the Guyana Gold Board have been using the old method for a number of years, Trotman said “So, we are strongly looking at the possibility setting up a refinery, either through a public-private partnership or wholly through government.”
GGB is reportedly already in receipt of a number of other plans for the refinery’s establishment.
“We had looked at similar facilities in Suriname. We have received proposals from local business persons as well as far as Dubai, India, the US and Canada, so we are moving in the direction of modernising this industry” Trotman stated.
Trotman stressed the need for Guyana to have its own refinery explaining that the country must at least have the capacity to refine a substantial amount of gold if not all.
GGB is reportedly also exploring the idea of producing commemorative coins and ingots which will be on sale.
The Minister explained “people could come and buy Guyanese gold as a Guyanese or if you are a citizen of Canada or the United States. It comes with a certificate and I believe this is where we are headed.”
The South African team to soon visit will be facilitated by the Foreign Affairs Ministry.