‘One strike and you’re gone’

Mar 23, 2018 News

– Gold Board chairman to staffers on corruption

The Guyana Gold Board (GGB) has vowed a tougher stance on corrupt staffers.
Addressing the issue of leakage of confidential information on miners to others, Chairman Gabriel ‘GHK’ Lall yesterday made it clear that it is one strike for guilty staffers and they are gone.
In fact, GGB, which officially reached a new Collective Labour Agreement (CLA) with the workers’ union last year, insisted that there will be no second chance for staffers who breach confidentiality agreement.
There have been allegations that staffers of GGB handed sales and other declaration information to competitors of miners and dealers.
Lall made the disclosures about the CLA yesterday during a lively discussion at a general meeting of the Guyana Gold and Diamond Miners Association (GGDMA), at the entity’s North Road office. The chairman was at the time updating miners on plans of GGB for the year.
Touching on issues of technology, treatment, time and trust, Lall disclosed that there are several things being done to improve efficiency and transparency, and general satisfaction for miners.
The Gold Board is in talks with Digicel about introducing a system where applications can be filled out and uploaded to the entity.

A miner posing questions yesterday

Gold Board chairman, Gabriel ‘GHK’ Lall

Noting that it is imperative that the Gold Board pull out the stops to reduce time that miners spend at its offices, Lall said while some systems will be improved, there are other things like compliance, including anti-money laundering laws that have to be followed.
Answering questions about frustrating delays in receiving simple details of declarations for tax purposes, the official, who has worked in Wall Street, assured that he will be looking into the matter.
In fact that ideal situation should not be more than a 24-hour wait. With moves to introduce better technology with links to various departments, Lall said there will be significant improvements this year.
It was also announced that experts are coming from the United Kingdom to ensure that the Gold Board’s data is better protected.
With regard to trust, he said that the Gold Board has made it clear that honesty is non-negotiable.
There were complaints about miners assays being sent overseas for independent assessment taking too long. These will be addressed in the coming months.
Lall also promised to look into the matter of raising the issue of foreign currency accounts of miners who are allowed to keep a part of gold sales in US and other currencies to pay for supplies.
With regards to the Gold Board’s performance, the chairman said that the entity, under new management and board, last year brought down the deficit with Bank of Guyana by a massive $14B from sale of gold and prudent management.
In fact, the operating deficit climbed from a $194M shortfall in 2016 to a $500M surplus last year.
Questioned about the possibilities of GGB halting its purchases and concentrating more on regulating, Lall said that personally he believed that Government has a role to play.
He disagreed that purchases should solely rest in the hands of private operators.
Miners also urged Lall and the Gold Board to find ways to improve the trading of its purchases to ensure maximum profits.
Gold has been the mainstay for stabilizing foreign currency in Guyana, remaining the number one export for all but one year for the past decade.
Miners have been demanding better concessions and roads, for the contributions to the economy.

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