…gold declarations as at September 29, 2017 stand at 475,202 ounces
The Ministry of Natural Resources today (Monday) confirmed that gold declarations as at September 29, 2017 stand at 475,202 ounces. The target set for 2017 is 700,000 ounces and the predictions are for increased production and declarations in the last quarter of 2017.
In a statement issued today, the Ministry said that recent declarations of enhanced production by Guyana Goldfields Inc. reinforces the view that economic stability and world market prices are driving higher production.
The statement noted that of 2017’s year to date total, small and medium scale miners produced 309,787 ounces while the two large mining operations; Guyana Goldfields and Troy Resources produced 117,002 ounces and 48,412 respectively.
Total export earnings as at September 29, 2017 stood at US $603,980,775 compared with US $575,869,243 for the same period last year.
“The Ministry of Natural Resources congratulates all miners – large medium and small for their dedicated effort despite challenges experienced by the industry both locally and globally”.
“We continue to implore all miners to declare their gold to the Guyana Gold Board or to licenced gold dealers. The Government of the Cooperative Republic of Guyana is committed to working with miners to ensure that their issues are addressed as together we work to surpass 2016’s record production of 713,000 ounces,” the statement added.