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…as small and medium scale miners produce 485, 552 ounces of gold
Small and medium scale miners produced 485, 552 ounces of gold for 2020 raking in a total of US$808, 587, 118 in export earnings when compared to US$619, 998, 745 in 2019.
The Guyana Gold and Diamond Miners Association (GGDMA) in a congratulatory statement said the 2020 production accounts for more than 75 per cent of the country’s total gold production.
“The production figure, while slightly below 2019, is especially significant and noteworthy given that the mining industry, in 2020, faced severe challenges caused by the global pandemic, financial and infrastructural constraints and a difficult tax regime,” the GGDMA said in the statement.
The Association said that it has taken note of the fact that small and medium scale miners have “maintained their commitment to the production target and continue to perform.”
“The Association therefore continues to lobby the government for additional reliefs and tax support for the local industry to increase productivity and mobilize additional investment,” the Association said.
Though the 2021 target for gold production has not yet been announced the GGDMA remains confident that given the additional reliefs and tax support, “miners will not only rise to the challenge but exceed them”.