GGDMA, Gov’t ink 2-year agreement for vehicles, spares to boost sector

See below full statement from the Guyana Gold and Diamond Miners Association (GGDMA):

The Guyana Gold and Diamond Miners Association (GGDMA) at its 40th Annual General Meeting resolved to strategize and work together for greater growth in the sector.

President of the GGDMA, Mr. Ronaldo Alphonso noted that despite the many challenges the industry faced this year, it has only served to make the resolve of the miners stronger.

He explained that even with drought and labour issues the industry must work for sustainable growth and develop and capitalise on new opportunities.

The meeting was informed that the GGDMA and the Government of Guyana has just signed an Investment Development Agreement [IDA] for vehicles and spares on December 9, 2024 for a period of 2 Years. The Association will be meeting with the Guyana Revenue Authority shortly to discuss the working of the IDA and the requirements that Miners need to meet to qualify for this incentive. Additionally, the government has partnered with the GGDMA for the development of several interior roads and bridges and the Association has also been given a fast track to getting their issues ventilated with the various government departments via the establishment of a direct mining portal.

The GGDMA says it is heartened and grateful for the support that the Government continues to provide to the sector despite the petroleum boom and the rise of the construction sector. This year the GGDMA Executives continued to meet regularly with His Excellency Dr. Mohamed Irfaan Ali on the needs and support for the mining sector. The President has been fully supportive of the sector and has worked with the GGDMA to advance initiatives that will help bolster growth. As a result, the sector was able to get several benefits including:

*IDA on Vehicle and Spares

*VAT Exemptions on Spares for Machinery, Spares for the Dredges and all industrial grease and hydraulic oils. For those miners who sell directly to the GGB. This is now a part of the recently signed IDA with the government and is valid for two (2) years.

*Addressing Labor shortages in the Mining Sector
Three (3) New Roads for the Mining Sector plus G$2.2B in rehabilitation works are currently being undertaken by the GGMC on existing roads. Toroparau to Kartuni Road, Kartuni to Cuyuni Road, and Toroparau to Makapa Road.

*Opening up of lands for small and medium scale miners through Lotteries held by GGMC.

*Quarterly meetings with the Minister of Natural Resources and Technical Meetings with GGMC.

*Mining Direct Portal linking the GGDMA, MNR, GGMC and the GGB.

The GGDMA is satisfied with the support given to the sector by the current Government, noting that several of the concessions that were returned to them since 2020 have been maintained and efforts are being made to expand benefits for miners. The GGDMA is committed to continue working with the Government to achieve joint goals for the sector and stamp out illicit activities that negatively impact the sector.

Members at the meeting also raised the issue of the recent shortage of mercury which has seen the price skyrocket and some dealers exploiting the situation.

Mr. Avalon Jagnandan, Administrator of the Guyana Gold and Diamond Miners Association (GGDMA), has reiterated the Association’s unwavering dedication to representing the interests of all miners across the country. Speaking on the Association’s ongoing initiatives, Mr. Jagnandan emphasized, “The GGDMA remains steadfast in its commitment to advocating on behalf of our members. We will continue to actively engage with the Government of Guyana and all key stakeholders to ensure the interests of the mining community are protected and advanced.” As part of its outreach efforts, the GGDMA hosts regular open days, providing miners with an opportunity to meet with the executive team, raise issues of concern, and seek assistance. Mr. Jagnandan encouraged all miners to take advantage of these sessions, underscoring the Association’s open-door policy and commitment to addressing members’ needs. He added that the GGDMA remains a pillar of support for the mining sector, championing initiatives that promote sustainability, growth, and the well-being of its members.

The 40th AGM was held at the headquarters of the GGDMA. Marking a historic milestone, the event introduced a mini exhibition for the first time, offering suppliers and service providers an exceptional platform to showcase their products and services to the mining community.