Gold processing fee, regulations for review

Sep 09, 2017 News

Government has agreed to review the $2,500 processing fee that miners have to pay for every ounce of gold.
The announcement came yesterday in a long-awaited meeting between miners and Minister of Natural Resources, Raphael Trotman, and representatives from the Guyana Gold Board.
According to the ministry, Trotman met with members of the Guyana Gold and Diamond Miners’ Association (GGDMA), the Guyana Women Miners’ Organisation (GMWO) and members of various mining syndicates under the National Mining Syndicate to hear a number of ongoing concerns in the sector and to work together to resolve them.
“The concerns included issues of taxation, issues related to the functioning of the Guyana Geology and Mines Commission (GGMC), interior roads, the Guyana Gold Board processing fee, revision of Mining Regulations, security for miners and mining lands for syndicates.”
The meeting, which was held at Cara Lodge, also saw the participation of a number of Government agencies. These included those from the GGMC, who addressed matters related to the functioning of the regulatory agency; the Guyana Revenue Authority (GRA), who addressed matters of taxation, and the Ministry of Public Infrastructure, who spoke on matters related to road construction and rehabilitation in the mining districts.
Present also at the meeting was Chairman of the Board of the Guyana Gold Board, Gabriel Lall, who addressed matters related to the functioning of the Guyana Gold Board and the necessity of the recently implemented processing fee of $2,500 per ounce.
“It was agreed at the meeting that this fee will be reviewed, with Minister Trotman promising to find a rate that was reasonable at all levels of mining.”
With regards to the Mining Regulations, the Minister “took a decision to resuscitate a committee” headed by Ministry of Natural Resources’ Permanent Secretary Joslyn McKenzie, and with members that the body of miners will propose to review the regulations.
Minister Trotman also committed to addressing some of the issues with his colleague Cabinet Ministers to bring them to a resolution.
“At the end of the meeting, Minister Trotman lauded the various miners’ representative bodies for coming together to make representation on the issues affecting them. He noted that while some of the criticism from the miners was harsh, they needed to be heard.
Minister Trotman committed to working closer with the miners’ bodies and to have greater collaboration.”
Likewise, the representatives of the three miners’ bodies lauded the initiative taken to engage them, and themselves recommitted to working with the Ministry of Natural Resources and various government agencies to ensure greater efficiency of operations and better regulation of the sector.

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