Latest update November 8th, 2024 1:00 AM
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New Gold Board urged to tackle smuggling, boost declarations
Minister of Natural Resources, Raphael Trotman, yesterday inducted the new members of the Guyana
New Chairperson, Joycelyn William
Gold Board (GGB) charging them to fulfil their mandate to the best of their abilities, for the good of the mining community and the nation.
The Board members installed are Joycelyn Williams, an Economist, who will serve as the Chairperson; John Yates, former Banker, as Deputy Chairperson; Lisaveta Ramotar, General Manager, Guyana Gold Board; Joanna Homer, Legal Officer, Ministry of Natural Resources; Theresa Foster, representative from the Bank of Guyana; Michael Somersall, Attorney-at-Law; Andron Alphonso, representative from the Guyana Gold and Diamond Miners’ Association (GGDMA) and Susan Bullen, Attorney-at-Law.
A representative from the Guyana Geology and Mines’ Commission (GGMC) is expected to be added to the line-up.
According to the Ministry of the Presidency, Minister Trotman briefed the Board on the activities and developments which have taken place since the new administration took office.
The meeting took place in the Ministry’s boardroom. He also highlighted issues that would require immediate intervention, outlining his expectations for the agency.
The Board, the statement said, was asked to focus on combating gold smuggling, increasing production and declarations.
The Board was also asked to examine the possibilities of establishing offices in the mining districts to fulfil this mandate. At the same time, he noted that the Board must work within Government’s policies and regulations.
Meanwhile, Chairperson of the Board, Joycelyn Williams, expressed gratitude to the Minister and Government of Guyana for the confidence reposed in the Board members. She pledged its commitment to ensuring that gold production and declarations are significantly increased.
“The Board also pledged to ensure that a stronger relationship is built with
Minister of Natural Resources, Raphael Trotman, briefing the new members of the Guyana Gold Board (GGB) at the Ministry’s boardroom yesterday.
the GGMC in order to foster a strong mining sector.”
The new Board would come as Guyana is facing challenges with the gold mining sector.
High prices on the world market in the last seven years, which despite falling within the last few, have spurred increased activities. This pushed declarations to new levels with the country targeting around 600,000 ounces this year.
However, renewed interest in the gold sector has seen smuggling on the increase. It is estimated that much more than 400,000 ounces, is being smuggled annually, to Suriname, Brazil, US and Europe.
Government has established a task force and the US’ FBI and Department of Homeland Security have been sharing information.
Last year, despite a slow start, declarations picked up ending 2015 at 451,000 ounces, some 60,000 ounces more than the previous year.
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