Gov’t help needed to improve recovery rates of small, medium-scale miners -GGDMA

The Guyana Gold and Diamond Miners Association (GGDMA) is calling on the government to provide small and medium-scale miners with assistance to improve their ore recovery rates.

A release from the GGDMA on Friday said that even though small and medium-scale miners produce more gold in aggregate than the larger companies, their recovery rates pale in comparison.

The statement noted that small- and medium-scale miners in Guyana have a 30-40% recovery, while larger mining companies such as Guyana Gold Fields Inc. and Troy Resources have consistently achieved a recovery rate of more than 90%.

As such, the Association is calling for the government to provide the technical assistance, education, training and finances necessary for small and medium-scale miners to improve their outputs at a faster pace.

It was opined that small- and medium-scale operators will continue to improve, especially given the pace set by larger companies as it relates to exploration, excavation, processing and environmental management.

The GGDMA said that it values the emerging partnerships between the small, medium and large-scale gold miners and stands for the fair and equitable treatment of all investors in the sector, regardless of their nationality and size.

The GGDMA, in its statement, assured that the partnership between the small, medium and large-scale gold miners will lead to a gold production level of over one million ounces annually from 2020 if the government provides the requested assistance. 

Furthermore, the Association encouraged greater investment, both local and foreign, in the gold and diamond mining sector and saluted those who have invested into the sector, regardless of the imperfect investment climate.

“GGDMA is pleased that government provided the necessary support when possible to aid in the success of the ventures. We call on small, medium and large scale mining operators to be faithful to the terms of their Agreements. GGDMA thanks Troy Resources and Guyana Goldfields for their sterling efforts and we declare our continued support as they proceed with expansion plans,” the statement added, while stating that it was also thanking the small and medium-scale miners for the good work done over the years.  

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