Guyana: Gold Board’s exports in 2019 was US$112M – Port Kaituma office opens

Exports from the Guyana Gold Board last year totaled over US$112M with officials insisting that the industry is continuing to make its mark on the economy of Guyana.

Minister Raphael Trotman and others at the opening of the Port Kaituma branch

The statements were made on February 3, 2020 when the Gold Board opened an office in Port Kaituma, Region One, with the projections of growth.

It was disclosed that the move comes as a result of requests from small miners.         

“This is the third office opened by GGB, in keeping with a commitment to make its services more accessible to small miners in remote areas of Guyana.

Minister of Natural Resources, Raphael Trotman, joined Director of the Board of the GGB, John Yates; General Manager, Eondrene Thompson; and staffers of the branch for the opening.

During his brief remarks, Minister Trotman underscored the value of the new location in facilitating services to small miners and the contribution of small miners to the sector.

He also noted that business at the new location will increase revenues to the economy through increased gold declarations over last year’s figures of 635,000 declared ounces.

“In 2019, revenue from gold exported was US$112 million, which demonstrated once again, the undeniable contribution that mining makes to the economy.”

The new office is located in the building that houses the Guyana Bank For Trade and Industry (GBTI) at Turn Basin, Port Kaituma. It will provide similar services to those offered in Georgetown including, testing and buying gold.

Since Port Kaituma is a hub for small miners plying their trade in Region One, the office will serve as a central access point of services to persons in the mining community and from surrounding areas.

The GGB is also continuing to provide services at its locations in Georgetown and Bartica, as well as, through mobile offices in selected areas.

“The Ministry of Natural Resources congratulates the Guyana Gold Board for its efforts to expand its services to small miners, in keeping with the overall development of the mining sector in Guyana and the APNU+AFC Government’s policy to ensure that there is an enabling environment for safe and sustainable mining at the large, medium and small scales.”

The Ministry said that since 2015, the Government has welcomed thousands of new miners into the industry, while enhancing efforts to protect the environment, hinterland communities and miners plying their trade.

Gold declarations are also at a record high as efforts to stimulate the industry and ensuring greater regulation, are providing positive results.

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  • brandli62  On February 5, 2020 at 5:15 am

    This is a good development as it will enhance the Guyanese government’s control on gold produced in Region 1. Given that Venezuela has become more and more reliant gold exports (see link below), I am wondering how much gold sourced in Region 1 ends up illegally in Venezuela? Does anybody have estimates?

    A trail of ‘bloody gold’ leads to Venezuela’s government

    • kamtanblog  On February 6, 2020 at 3:26 am

      Wow ! What a expose of a corrupt
      dictatorship ! My guess is Guyana
      borders may be complicit/implicated
      in this corruption.
      All that glitters is not gold !

      Am sure that these expose will continue
      to show how corruption can destroy
      some economies.

      Ps thanks clip which circulate globally

  • brandli62  On February 6, 2020 at 3:46 am

    Thanks, Kamtan for your supporting comments. I believe that the Guyanese government should be very vigilant about this development. Region 1 harbours lots of Venezuelan refugees who have to find some mode of survival, which may fuel the smuggling of gold across the boarder.

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