As it laid out its record of compliance, El Dorado Trading yesterday announced that its projected declaration of gold for this year would be at last 250,000 ounces.
Giving a ball park figure of remittances into Guyana’s economy through the official banking system from its operations, Chief Executive Officer of the company, Tamesh Jagmohan, told Stabroek News that it has been about US$400 million, which has helped to stabilise this country’s foreign exchange rate while helping the economy.
Jagmohan emphasised that while Guyana’s largest income earner now is oil, the importance of the gold industry must not be forgotten as it “has been the backbone of this country” for years, ensuring always a ready supply of foreign exchange and stabilisation of the exchange rate.
