Local gold, diamond miners pay $7 billion in royalties and taxes

GGDMA President Patrick Harding

Industry pressures arising out of what is now a pattern of falling gold prices is threatening to create further differences between privately run small and medium-scale gold mining operations and the state-run oversight body, the Guyana Geology and Mines Commission. (GGMC).

Speaking earlier this month at a forum convened to discuss a scoping study for the adoption of an Extractive Industries Transparency Initiative (EITI), Guyana Gold and Diamond Miners Asso-ciation (GGDMA) Presi-dent Patrick Harding said small and medium-scale miners want government to respond to reduced global gold prices and consequential reduced earnings from the sector by releasing information currently being held by the GGMC that would allow the miners easier access to gold-bearing areas.

“Miners can better service falling gold prices if the GGMC can release from its records exploration information highlighting the