There is too much pressure on small and medium scale miners

Jan 24, 2017 Letters

Dear Editor,
It is with much concern that I write this letter to you Mr. Editor about the unnecessary pressure being placed on the small and medium scale miners by way of taxes and regulations. It is quite alarming that after carrying the country’s economy for the last decade and still performing well even with the many challenges we currently face that this is happening.
In light of this we need to ask two questions; is it that the government can’t garner revenue from other industries or sources or is it part of a bigger plan to close off small and medium scale mining? It is quite baffling that investors, pioneers and customers should be treated this way after taking such great risks. As it stands, when we sell our gold to the Gold Board or a licensed dealer we pay 7% off the top. This can translate into 60% or more off the bottom. What hurts even more is the fact that many of us closed our operations in May 2015 and spent large sums to come out of the interior with our workers to vote for change. One would have thought that the industry would have been nurtured, promoted and helped to continue or better its performance with other major industries underperforming and oil revenue still some way off.
The industry is in crisis and this can be verified by visiting the major mining areas. The production of 2016 is quite deceiving. In the meantime, we have a Senior Minister who seems powerless to stop or does not want to engage the Minister of Finance on some of these tax issues that we are being burdened with. Whilst the another big wig who has conflict of interest issues adopts a divide and rule approach for political gains. In conclusion Mr. Editor, we have developing issues of shortage of US Dollars, higher unemployment and the imminent devaluation of the Guyana Dollar.
Concerned Small Miner

Discover more from Kaieteur News

Subscribe to get the latest posts sent to your email.

Latest News