Minister of Natural Resources and the Environment Robert Persaud lauded Guyana’s partnership with Canada in the mining sector and invited investors to consider Guyana, at the first Guyana Day event at the Prospectors and Developers Association of Canada (PDAC) held in Toronto over the weekend.
About 120 persons plus private and institutional investors, potential investors and financial institutions attended the forum, a press release from the ministry said.
The minister was accompanied by a team including Canadian High Commissioner to Guyana Ambassador David Devine, Commissioner at the Guyana Geology and Mines Commission Karen Livan and Deputy Commissioner Rickford Vieira. The team, in collaboration with the Canadian mission held its first seminar and exhibition on Sunday.
In his address, the Canadian envoy highlighted the importance of the mining sector to Guyana and the role that Canadian companies are playing in developing it. Devine also said that Guyana “had crossed a significant milestone by positioning its industry on the map” which is evident by the overwhelming show of interest by the numbers that flocked the event to participate in the forum.”
The High Commissioner also said his office and the Ministry of Natural Resources had partnered on some major projects, including improvements of educational capacities in the sector, partnerships on corporate social responsibility and cooperation on strengthening of the regulatory environment, in support of Guyana’s mining industry.
Meanwhile, Persaud told the audience that Guyana was in the process of qualifying for membership in the Extractive Industries Transparency Initiative. He also noted that Guyana would welcome new investors though “in the spirit of greater transparency” in the management of its resources, a quarterly supplement would be circulated locally so that residents would be informed about the opportunities in the sector.
Persaud also said that Guyana was interested in developing a gold refinery and that a group had already indicated its interest in this endeavour. The minister also recalled the contributions made by several Canadian companies that are active in the mining sector and he invited new companies to consider investing in Guyana.
According to the release, Persaud’s presentation was followed by four 15-minute presentations from Canadian companies that hold mineral agreements with Guyana. These are Claude Lemasson, President and Chief Financial Officer of Guyana Goldfield Inc; Rich Munson, President and Chief Financial Officer of Sandspring Resources; Ian Fodie, Chief Financial Officer of First Bauxite; and Jim Crombie, President and CEO of Reunion Manganese. All four companies spoke positively about their experiences in Guyana and noted that they were optimistic about future developments.
Investors, financiers and companies also took the opportunity to engage the minister and his team and to seek additional information on the development of projects in Guyana, the release said. An evening reception to welcome the delegation also mirrored the forum. It too boasted a packed crowd. “Attendees were liberal in their praise to see the Guyana mission at the PDAC and noted that the attendance was very timely as investors are eager to learn of opportunities” here, the ministry said.
