Companies shortlisted are for supply of spare parts - GGDMA

Companies shortlisted are for supply of spare parts – GGDMA

Oct 21, 2015 News

The Guyana Gold and Diamond Miners Association (GGDMA) have shortlisted ten companies to supply spare parts and equipment at reduced prices to qualifying mining operators.
This is according to a statement issued by the association, adding that no company to supply fuel has been identified so far. This was in response to reports in sections of the media that fuel suppliers had been selected.
The ten companies are Adamantium Holdings, GGDMA Trading Inc., Associated Industries Ltd.; MACORP; Chunilall Baboolall, Correia’s Mining Co.; Farm supplies Ltd/General Equipment; JAPARTS; Azeem Baksh; JOHIL; Winston Percival Rambarran; Crown Mining Supplies.
According to the association, the “GGDMA will put systems in place to ensure that all selected suppliers of spares, equipment and fuel will have to sell at or below a preset recommended selling price.”
This, the statement said, will be done to ensure that no supplier is profiting from the reductions due to the concessions or engaging in “price gouging.”
“We want as much of the savings as possible to go into the pockets of qualified miners.
These prices will be published in the newspapers and will be available to miners via a phone call to the Association’s office.”
The association went on to warn that any supplier found to be exceeding these prices will be de-listed as an authorized dealer of the GGDMA.
The mining equipment listed for tax exemption are ATVs; rock-drilling or earth-boring tools inclusive of jack hammers; tubes; pipes and hoses of vulcanized rubber fittings, other carpet and textile floor coverings, articulated link chain and parts, pumps, impellers, pump housings, shafts, marine propulsion engines and other engines.
Three categories of vehicle have also received exemptions: Under category A operators who declare 5,000 ounces of gold and above annually, are granted two double-cab pickups every five years, with no engine capacity, year or model limitations and one motor car for every five years, with a maximum cylinder capacity of 2500.
Category B declarants (2000 to 4999 ounces of gold annually) are granted one double-cab pickup every five years with no limitations regarding engine capacity, year or model, while Category C declarants (between 500 and 1999 ounces annually) are offered one single-cab pickup every five years, with no limitation regarding engine capacity, year or model.
However, declarants of less than 500 ounces annually do not qualify for tax exemptions on motor vehicles for use in the mining sector.

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Companies shortlisted are for supply of spare parts – GGDMA

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