Confronted for the first time in almost two years with a sudden, sharp downward movement in gold prices, local stakeholders, the government, investors as well as the hundreds of employees ranging from skilled workers to labourers can do no more than keep their fingers crossed for the survival of what, up until now, has been a lucrative love affair with the precious metal.
Last week, as prices dipped amidst Europe’s preoccupation with trying to put Cyprus’ broken economy back together again, Natural Resources Minister Robert Persaud convened a meeting with the stakeholders. By their own admission, however, the state officials and investors appear to have long conceded that they can do little more than wait it out in the hope that the recent slip in prices does not move into a condition of free fall.
Earlier in the week, the sobering point was made that Guyana, like every gold-producing developing country is
