Dear Editor,
The recent boast in a Kaieteur News report by Akiba Leisman, CEO of Canadian firm Mako Mining, should send a chill down the spine of every Guyanese citizen. In discussing the Eagle Mountain gold project, he claimed Guyanese officials have his company’s president “in a headlock” and are so eager to sign a deal they might not “let him leave the country” without it. This isn’t just about corporate arrogance; but definitely a flashing red signal about our government’s submissive posture in negotiations over our nation’s most precious, non-renewable wealth.
This image of a government in a desperate clinch with a foreign corporation conveys one stark message to the average citizen: we are not negotiating from a position of strength, but of weakness. It begs painful questions: Why the unseemly hurry? What exactly are we, the true owners of this resource, giving away in this rush?
The Siren Song of “Development”: What’s In It For Them?
On the surface, the government’s anxiety is dressed in the familiar garb of investment and progress. Mako Mining touts Guyana as an “emerging gold mining jurisdiction” with a “mining-friendly permitting environment”. The project itself is substantial, with an estimated 1.2 million ounces of gold ready to be extracted over 15 years. The promise is of revenue, jobs, and economic activity near Mahdia.
For the company, the calculation is simple and spectacularly profitable. A 2024 assessment of Eagle Mountain projects an after-tax internal rate of return of 57% and a net value of $292 million. For a company like Mako, which just reported record quarterly revenue and a cash increase of $9.5 million from its mine in Nicaragua, Guyana represents a lucrative new frontier to be secured on the most favorable terms possible. Our administrators’ apparent desperation only sweetens their deal.
The Staggering Cost: What We Stand to Lose
This is where the grim calculus must be examined. The “pros” are vague promises. The “cons” are documented, severe, and directly threaten other, more sustainable pillars of our economy and the health of our people.
- Environmental and Health Catastrophe in the Making:
Gold mining is not a clean business. The experience from the Marudi mountains and across the Guiana Shield is a dire warning. Mining activities are directly linked to 75% of malaria cases in the region, creating breeding grounds for mosquitoes and triggering public health crises. The use of mercury—a neurotoxin—poisons rivers and ecosystems, entering the food chain and causing irreversible harm, particularly to pregnant women and children. This is not speculation; studies near Marudi have already found some of the highest levels of mercury contamination in the country. Will Eagle Mountain be different, or will it repeat this devastating pattern?
- Undermining a Billion-Dollar, Sustainable Industry:
This frantic push for gold mining is in direct conflict with Guyana’s celebrated and profitable leadership in forest conservation. Our nation is a global carbon credit powerhouse, with sales expected to near US$200 million this year alone and a landmark $750 million deal already secured. These credits are sold to giants like Apple and multiple airlines precisely because of our pristine forests’ credibility. Large-scale open-pit mining like that planned for Eagle Mountain causes deforestation, river siltation, and biodiversity loss. We are risking a high-value, sustainable, and reputation-enhancing revenue stream for the one-time extraction of gold, the proceeds of which remain murky.
- The Erosion of Sovereignty and Dignity:
The CEO’s “headlock” comment is a profound insult to our national dignity. It portrays our government not as shrewd stewards and tough negotiators, but as easily pressured intermediaries in a hurry to hand over the keys. This impression mirroring similar past views, tells other foreign investors that Guyana is a place where you can drive a hard bargain and make flippant jokes about its officials. It fundamentally tarnishes the “fastest-growing economy” brand, suggesting our growth is fueled not by astute strategy, but by a fire sale of national assets.
- Repeating the Sins of the Past:
There is a documented history of mining deals being shrouded in secrecy and rushed through without the Free, Prior, and Informed Consent of Indigenous communities whose lands and lives are affected. The Wapichan people near Marudi have seen their sacred sites destroyed, their waters polluted, and their social fabric torn by mining, all while being sidelined from decisions. A government that claims to represent all Guyanese must prove this pattern will not be repeated at Eagle Mountain.
A Call for Transparency and True Stewardship
This is not a call to reject all development. It is a demand for intelligence, transparency, and true patriotism in how we manage our inheritance.
The government must halt this headlong rush and answer these questions publicly:
- What are the specific fiscal terms, royalty rates, and environmental guarantees in this “mineral agreement”?
- How does the projected revenue from this mine compare, over the long term, to the potential loss and devaluation of our carbon credits and ecosystem services?
- What iron-clad, independently monitored safeguards are in place to prevent mercury pollution, malaria outbreaks, and irreversible ecological damage?
- Have the Indigenous and local communities in Region Eight been genuinely consulted, and will they share meaningfully in the benefits?
Guyana stands at a crossroads. One path, paved with desperate haste, leads to short-term gain for a few and long-term degradation for all. The other, built on prudent stewardship, protects our sustainable golden goose—our forests—and insists that any extraction of underground gold is done on terms that unequivocally favor the Guyanese people, our environment, and our future.
We must not allow ourselves to be seen—or to be compromised in a headlock ever again. Our natural wealth and our national dignity demand nothing less.
Yours truly
Hemdutt Kumar
