Tag Archives: gold production

Guyana reduces growth forecasts for 2013 – sugar slides

Gov’t tempers growth projection after 32.5% sugar slide

Stabroek News –  August 31, 2013

Minister of Finance Dr Ashni Singh yesterday reported that the economy grew by 3.9 percent in the first half of 2013 but with sugar contracting by 32.5 percent, the projected growth for the entire year has been revised downward from 5.3

Speaking at a press conference held at 9 last night, the minister said that sugar’s dismal performance has been responsible for the more modest growth in the economy. He said, however, that sugar notwithstanding the economy remained robust because of its diversified nature. percent to 4.8 percent.

The minister said that the non-sugar economy grew by 6 percent for the first half of the year. It is projected that the non-sugar economy will grow by 5.8 percent for the year 2013, he added. Singh announced that sugar production for the first half of the year was 48,038 tonnes, a contraction of 32.5 percent.       Continue reading

Corruption in gold mining sector under scrutiny

Corruption in gold mining sector comes under scrutiny

MAY 16, 2012 | BY  | By Leonard Gildarie

 …local consortium proposes refinery

An age-old practice by holders of large and medium scale exploratory permits to allow illegal gold mining has drawn fire from government quarters.
During a luncheon in celebration of the 30th anniversary of the Guyana Gold Board (GGB), Natural Resources Minister, Robert Persaud, said it is a major issue being tackled by his newly established Ministry.

Some of the companies involved in the illegal act are prominent ones and the guilty parties could very well face sanctions and see the seizure of the Prospecting Licence, Persaud warned yesterday during a session with reporters and stakeholders at the Sleep Inn Hotel on Brickdam.

According to Persaud, there is clear evidence, via written agreements and otherwise, of the illegal actions.   Continue reading

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