Latest update February 20th, 2025 6:53 AM
GO-Invest urges local miners to partner with international business
From left: Guyana delegation: GO-Invest Chief Executive Officer (CEO). Owen Verwey, Minister of Finance, Winston Jordan and Minister of Natural Resources, Raphael Trotman
Local miners were urged to take advantage of opportunities posited through participation in the Prospectors and Developers Association of Canada Convention (PDAC) 2019; an international conference held from March 3-6, 2019 in Toronto, Canada.
PDAC is the leading international financier and fund manager forum where representatives of countries, companies and organisations interact closely with key decision makers in the global mining industry.
The nation’s successful participation at this prestigious event was facilitated by the Government of Guyana, and coordinated by the Guyana Office for Investment (GO-Invest) with assistance from the Ministry of Natural Resources and the Guyana Geology and Mines Commission (GGMC).
According to information released from GO-Invest, Guyana’s representatives took full advantage of the unique opportunities presented at PDAC to provide relevant, targeted information to potential new investors, and also hosted special events to promote awareness of the country’s resource-rich natural environment and its boundless business opportunities.
“Many local miners took the opportunity to promote awareness of their companies and projects while targeting potential financiers, business partners and customers.
Among exhibitors were Avalon Gold Exploration (Omai); Goldsource Mines Inc.; AVA Management and Consulting; Guyana Goldstrike; Guyana Goldfields; the Guyana Women Miners’ Organisation; the Guyana Gold and Diamond Miners Association, and GGMC.
GO-Invest extolled Guyana’s fruitful participation in PDAC 2019 as an essential component of a well-considered national trade and investment promotion strategy that enables Guyana to put its marketing funds to work in the most targeted and effective way.
One of the biggest crowd-pullers was ‘Guyana Mining Day—Guyana On Focus’, which was conceptualised by Guyana Goldfields Inc. and held on March 3, 2019 at the Metro Toronto Convention Centre.
Guyana Mining Day provided over 15 participants from the local mining industry with an opportunity to meet face-to-face with a variety of mining industry specialists from around the world.
This strategic promotional event was addressed by the Government of Guyana and local industry officials led by Minister of Finance Winston Jordan.
Among the participants were Canadian government officials and members of the diplomatic corps including Guyana’s High Commissioner to Canada, Clarissa Riehl. Over 250 persons were in attendance at this event.
Minister Jordan highlighted Guyana’s commitment to environmental protection and stressed Government’s value-driven approach to promoting investments. He noted that the nation is on the verge of becoming a major oil producer with first oil on target for the first quarter of 2020—or possibly the last quarter of this year—and, as such, the promotion of a diversified economy is particularly important.
The Finance Minister said that Government’s focus going forward will be much broader than the oil and gas sector, and work is being done to make all of Guyana’s productive sectors competitive in their respective world markets.
He asserted that the retooling, reformation and prudent management of Guyana’s mining sector are critical to this effort.
Minister Jordan also underscored government’s commitment to constructive reform and calculated enhancement of the nation’s mining sector through the development of a National Mineral Sector Policy Framework that addresses enforcement, compliance, incentives and competitiveness, among other priority areas.
He drew special attention to the benefits and incentives provided to accredited investors in Guyana’s mining sector, which includes: the protection of investments by the Constitution and laws; a progressive royalty regime for small and medium producers; access to credit; a ready workforce and no restrictions on the repatriation of profits, dividends and other earned income.
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