Government is currently considering a proposal to pay miners less than the world market price for gold, prompting a warning from the Guyana Gold and Diamond Miners Association (GGDMA) and the Guyana Women Miners Organisation (GWMO), which say the move would do more harm to the mining industry.
Speaking to Stabroek News yesterday, Minister of Natural Resources Raphael Trotman said that the discussion for the Guyana Gold Board to pay below the “London Fix” price has been ongoing for many years. However, he said that no final decision has been made on the matter since it is before cabinet.
Trotman added that there are advantages and disadvantages to miners paying below the market price.
