Govt holds stakeholder engagement to advance mining sector

A stakeholder engagement, to facilitate an exchange of best practices and address issues facing the nation’s mining sector, was on Thursday held at the Marriott Hotel in Kingston, Georgetown.

Facilitated by the Ministry of Natural Resources and the Guyana Geology and Mines Commission (GGMC), the forum saw representatives from the private and public sector agencies attending, to discuss regulatory challenges within the industry, and explore innovative techniques.

During his remarks, GGMC’s Commissioner, Newell Dennison, emphasised the importance of dialogue between the regulatory and industry arms of the sector.

“It has to be obvious to anybody who is committed to the growth and development of this mining sector that regulator and industry must chart ways where there is optimum congruence. This will lead to better decision-making by all parties [and] the removal of potential areas of conflict,” Dennison said.

He explained that discussions of this nature are critical to ensure the sector is managed effectively, especially in the face of challenges.

The government continues to place emphasis on strengthening this sector, recognising the important role it plays in Guyana’s economy, especially as a key contributor to the Gross Domestic Product (GDP).

At a recent press conference, Minister of Natural Resources Vickram Bharrat acknowledged several challenges faced by the industry including labour shortages, and low recovery rates.

The minister expressed confidence that the government’s policies will alleviate these issues.

Additionally, the government recently signed a US$1.8 million mineral mapping contract with a US company, Global Venture Consulting LLC, to facilitate strategic mining, and added benefits for medium and small-scale miners.

Mineral mapping is a low-impact mining technique that refers to the process of identifying and mapping the distribution of minerals in a given area or region.

This process will assist in identifying areas that hold mineralisation potential, to avoid aimless deforestation by miners.

It aligns with the government’s drive to enhance mining practices in ways that allows for the extraction of minerals while protecting Guyana’s environmental credentials.

“This project will significantly help us to identify not only where our gold deposits are, but all minerals. In keeping with what is happening around the world, the transition phase from fossil to renewable, critical minerals is…heavily in demand. If you look at lithium and other minerals, they are highly sought after.  [The project] will help us in the allocation of properties and in ensuring we safeguard our forests at the same time,” the minister said.

The discussion also forms part of a slew of activities to commemorate Mining Week, scheduled from August 25 – 31, under the theme: ‘LCDS 2030: Adapting to Change, Overcoming Vulnerability, Forging Sustainability.’