Gold Board records 451,490 ounces - declarations exceed 2015 target

Georgetown, Guyana –(December 31, 2015) Despite a significant drop in gold prices on the world market, and challenges in the mining sector over the past year, the Guyana Gold Board (GGB) has recorded 451,490 ounces of declared gold, surpassing this year's target of 380,000 ounces.

With the declarations, the GCB has recorded export earnings of approximately US$500 million, making the mineral, once again, the largest earner of foreign currency for Guyana.

Minister of Governance, with responsibility for Natural Resources and the Environment, Mr. Raphael Trotman, said the declaration is a significant achievement in a price-declining market environment and all miners, particularly small and medium-scale miners, must be commended.

"The performance of the gold mining sector was very impressive and very encouraging. With better regulation and more opportunities for miners, we expect to do even better in 2016. We are happy that the good life is coming to fruition," Minister Trotman said.

The Minister noted that the declaration figures attest to the fact that gold is an important earner in the Guyanese economy and as such, Government will continue to support the sector by providing operational concessions to miners and supporting infrastructural works.

At the start of 2015, the London Fix quoted the price of gold at US$1184. The market prices initially fluctuated around US$1,150 before showing increased volatility and declining to a five-year low of below US$1,100. As such, the Guyana Gold and Diamond Miners Association (GGDMA) made representation for concessions and incentives.

In October 2015, the Government granted fuel and equipment tax concessions to small and medium-scale miners and an agreement was signed by stakeholders; the Ministry of Finance, Guyana Energy Agency and the GGDMA. It was anticipated that despite the volatile gold prices, these concessions would energise production thus ensuring the sector's viability in 2015 and further into the future.

With the re-introduction of large-scale gold mining in Guyana, Guyana Goldfields and Troy Resources have contributed to the country's total declaration, during the last quarter of 2015, increasing gold declaration and contributing to an overall increase of 16.5 per cent when compared to December 2014.

In 2016, he said the Government will continue to review mining concessions to ensure that mining interests conform with the Laws and Regulations governing the sector; while the Anti-Gold Smuggling Task Force will continue with its mandate to tighten loopholes to tackle gold smuggling, which has plagued the sector for some time.

Government is grateful to the miners who have made the effort to make mining a worthy enterprise and for making declarations in a timely manner.

SOURCE: http://www.motp.gov.gy/index.p...s-exceed-2015-target

Original Post

Please source where the PPP has been screaming that gold production is worse than before. Though, For your info, the  production was 481000 ounces declared for 2013. 

This year, aurora came on stream, a project started under the previous administration.

skeldon_man posted:

Dictators can declare anything they want. Who is there to challenge them? They can declare that "dem lolo bigger dan anybady else" one. If anyone challenges their declaration, he or she might gat a police visit and a bullet in the head..PNC style.

Come on Bro..what's is the opposition PPP doing,if the results are fake challenge it.

Django posted:
skeldon_man posted:

Dictators can declare anything they want. Who is there to challenge them? They can declare that "dem lolo bigger dan anybady else" one. If anyone challenges their declaration, he or she might gat a police visit and a bullet in the head..PNC style.

Come on Bro..what's is the opposition PPP doing,if the results are fake challenge it.

You can't challenge what's hidden from you. We are talking of a one man show here...aka Putin, Kim Jung Um.

skeldon_man posted:
Django posted:
skeldon_man posted:

Dictators can declare anything they want. Who is there to challenge them? They can declare that "dem lolo bigger dan anybady else" one. If anyone challenges their declaration, he or she might gat a police visit and a bullet in the head..PNC style.

Come on Bro..what's is the opposition PPP doing,if the results are fake challenge it.

You can't challenge what's hidden from you. We are talking of a one man show here...aka Putin, Kim Jung Um.

even for an ignorant cave dweller like skeldon_man, this is weak and pity worthy

skeldon_man posted:

Dictators can declare anything they want. Who is there to challenge them? They can declare that "dem lolo bigger dan anybady else" one. If anyone challenges their declaration, he or she might gat a police visit and a bullet in the head..PNC style.

them ppp bais was shipping it out 

Zed posted:

This year, aurora came on stream, a project started under the previous administration.

You don't want to give Hoyte credit for stabilizing and liberalizing the economy, and preventing the Jagans for pursuing their Marxist dreams.

So who cares what project was initiated under which gov't.  2015 saw the decline in gold production arrested.

I am personally sceptical about the suggestion that gold production was lower in 2014 than in 2015. I am more of the opinion that the PPP was skimming quite a bit of the gold off and under reporting the amount mined. The discovery of undisclosed gold shipments via illegal means underpins that suspicion.

Mr.T posted:
skeldon_man posted:

Your opinion does not count. You are not an expert on skimming. Wait a minute.. I take that back. You learned from your papa Forbes.

Is your mama that was sleeping with him. So you got his genes.

IF YOU CANNOT TAKE THE RIBBING HERE, THEN GO JOIN THE KIDDIE CLUB. Nah your mama was spreading her legs, that's why you constantly defend his actions. He is your papa.

In fact their is no increase in production, the gold now being declared is from miners who were hoarding in anticipation of a price rebound. Now that the trend of low gold price is obvious, miners are now cashing in their stashes just to stay afloat. Many mining equipment are now up for sale with few buyers. The sale of new mining equipment has grounded to a halt and application for new claims are non existent. 

Drugb posted:

In fact their is no increase in production, the gold now being declared is from miners who were hoarding in anticipation of a price rebound. Now that the trend of low gold price is obvious, miners are now cashing in their stashes just to stay afloat. Many mining equipment are now up for sale with few buyers. The sale of new mining equipment has grounded to a halt and application for new claims are non existent. 

good news in GT mussbe butt hurtin like when u were b_gurd back in the day . . . no?

 

skeldon_man posted:
Mr.T posted:
skeldon_man posted:

Your opinion does not count. You are not an expert on skimming. Wait a minute.. I take that back. You learned from your papa Forbes.

Is your mama that was sleeping with him. So you got his genes.

IF YOU CANNOT TAKE THE RIBBING HERE, THEN GO JOIN THE KIDDIE CLUB. Nah your mama was spreading her legs, that's why you constantly defend his actions. He is your papa.

I have never defended the actions of Burnham or Jagan. To suggest otherwise is clearly a sign of how much you are trying to hide the origin of your dogla looks.

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