Tag Archives: MINISTER OF NATURAL RESOURCES

GUYANA: Gold Mining: Secret contract exposed… Chinese company pays US$5 rent per acre + Duty-Free Imports

— Chinese company pays US$5 rent per acre for Guyana’s largest gold claim

Aurora Mine – Guyana

The generous concession comes as a result of a contract that was inked (by the PPP government) in November 2011 with Aurora Gold Mines, then owned by Canadian Guyana Goldfields, and since sold to the Chinese mining group.  Continue reading

GUYANA: Politicians and gold mining madness in the hinterland

GGMC Logo

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The news earlier this week that the Guyana Geology and Mines Commission (GGMC), has fined a Brazilian gold miner G$12 million (app $60,000 US), for allegedly committing several environmental transgressions in pursuit of his mining activities, including destroying a section of the Cuyuni River bank, would by now have gotten left behind amidst the various other issues that compete for public attention at this time.

Perhaps more to the point is the fact that the fine imposed represents proverbial ‘chicken feed’ compared to the likely overall value of the precious metal extracted by the Brazilian miner and almost certainly repatriated back into Brazil, but definitely not having done anything for this country’s economy.

Guyana Gold Board wants to buy “all gold” directly from miners

The state-owned Guyana Gold Board (GGB) is further decentralising its operations by deploying roving representatives in mining communities, General Manager Eondrene Thompson announced Monday.

The GGB’s main office is located in Georgetown and a satellite office in Bartica, in addition to agents who are licensed dealers. But Thompson said her entity wants to buy all of the precious yellow metal being produced here.      Continue reading