Surinamese investor seeks to cash in on Guyana’s mining boom

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Minister Persaud delivering remarks at the commissioning of HFD Mining Supplies. Looking on is Surinamese investor Karel Dawson.
Minister Persaud delivering remarks at the commissioning of HFD Mining Supplies. Looking on is Surinamese investor Karel Dawson.

A Surinamese is the latest foreign investor to pursue opportunities in Guyana’s expanding mining sector. Already a number of Canadian, US, Brazilian, Indian and Chinese among other countries have invested in different areas in the mining sector.

On Sunday evening, HFD Mining Supplies, a Surinamese enterprise located on Oronoque and Forshaw Streets, Queenstown was formally launched. Owner of HFD Mining Supplies, Karel Dawson expressed happiness with the hospitality he received when he decided to invest in Guyana.

“I felt at home when I decided to bring my family in Guyana ….my intention is to grow from strength to strength in Guyana,” he said. He referred to the efficiency in setting up his business in Guyana and noted the economic progress Guyana has been making which is getting the attention of the Surinamese business community.Investor 2

Trade and Investment Sub Committee Chair, of the Private Sector Commission, Ramesh Dookhoo reiterated that the private sector is growing rapidly. He said that the sector welcomes all foreign investors and will ensure that they are treated equally.

He took a jibe at the opposition for its recent stand on a number of major projects.  “Those politicians that want us to do less than we are doing now may be in for a shock because they themselves might become obsolete at some point in time,” said Dookhoo.

“It is a pity that all of Guyana’s politicians and businesses do not believe that Guyana is an economic bubble,” he said.

President of the Guyana Gold and Diamond Miners’ Association Patrick Harding welcomed the enterprise, noting the positive benefits it can bring to the local mining sector.

Minister of Natural Resources and the Environment, Robert Persaud, in his remarks, urged the mining industry players to ensure that miners are treated fairly, and that they get value for their money as the mining sector continues to grow and make record achievements. The investment, he said, is timely, even as the mining sector continues to move forward, and is advancing technologically as well.

 

This, he said, means that the Natural Resources Ministry and the relevant agencies must ensure that issues such as efficiency, cost reduction, environmental mining practices and suppliers’ support are addressed.  In so doing, they must look at the types of technology, training, services and collaboration with miners to bring about the kind of objectives that are required, he pointed out.

Thus far, gold declaration is about 340,000 ounces, which is a 24 percent increase over the same period last year.

Minister Persaud highlighted that with close to 16,000 registered dredges and 10,000 licenced operations, the company will see great success. Investments

Government has created an enabling environment in order to encourage investments both local and foreign. Minister Persaud said that the fact that there has been several Surinamese enterprises in all sectors,  means that the private sector is growing.

He said that he is optimistic that those investments will do well for the relationship between Guyana and Suriname. Minister Persaud challenged the private sector to reciprocate and look at opportunities that exist in Suriname because the sector is growing at the magnitude where it has regional and extra-regional recognition.

He also urged them to look at what other regional private sectors are doing and explore other opportunities.

 

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