Scaled down mining, exit of Brazilians behind lower gold output –study

Scaling down of operations, worked-out lands and migration of Brazilians are three of the main reasons for a drop in gold production for the first half of this year, a preliminary report on a Guyana Gold and Diamond Miners Association (GGDMA)-sponsored study says.

The GGDMA had commissioned the study after government officials including President Donald Ramotar blamed hoarding for a 20% drop in declarations up to May. Miners strenuously objected to the claim and insisted that production had dropped and Ramotar has since backtracked on his comments and suggested instead that “delayed declarations” were to blame. Gold declarations towards the end of July were 16% lower than the corresponding period last year.

GGDMA coordinator Colin Sparman told Stabroek News on Thursday that a preliminary report on the study commissioned by the GGDMA to investigate the reasons for lower production figures for the first half of 2014, has established three main reasons for the decline. These, he said, were a drop in production due to a scaling back in the level of …..To continue reading, login or subscribe now.



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