Miners association rejects transparency initiative report

The Guyana Gold and Dia-mond Miners Association (GGDMA) on Saturday rejected the recently-published Guyana-Extractive Industries Transparency Initiative (GY-EITI) report, calling it “largely inaccurate and uninformed” about the small and medium scale gold and diamond mining industry.

Among its criticisms is the claim that the GY-EITI, by demanding disclosures of ownership, valuations and profits, in a manner that it says is “outside of the law,” will expose local miners to further targeting by criminals, as it would create “an easy ledger” for bandits “to carve up” local operators.

The GY-EITI report prepared for the international mining transparency watchdog, EITI, states that 19 mining companies – Innovative Mining, R Mining Inc., Azeem Baksh, Gold Target Export, Milburn Mahadeo, Grey Wolf Resources, Tesouro Resources, J&D Mining, New East International, Higgins Winslow Theophilus, Wal Jays Mining, Harpy Investment, Troy Resources Guyana Inc., Guyana Goldfields (AGM), Bauxite Company of Guyana Inc. (BCGI), BOSAI Miners Group (Guyana) Inc., El Dorado Trading, SSS Mineral Trading Enterprise and Adamantium Holdings – refused to provide information on their beneficial owners…..

Around the Web