| Miners are calling for urgent action that will address fallout from the world market drop inThe miners’ association is again pleading for meaningful interventions as the price of gold continues to tumble.prices. The call comes amidst what appears to be a growing rift between the Guyana Gold and Diamond Miners Association (GGDMA) and Government over what the former says are delays in much-needed interventions.“Mining has been the major economic earner for the country over the past few years, but this year it is certain that the industry will miss the production target, as a consequence, monies earned by Government would be less than that of the past year and the development of the industry can be brought to a standstill without Government’s intervention,” the association said in a statement yesterday.According to the miners’ body it has taken note of the recent response by the Ministry of Natural Resources and the Environment (MNRE) over its public appeal for assistance.“While the GGDMA does not wish to negotiate in the press, the association would like to state several facts for clarity,Nike Air Max 2018 Womens, since in the Association’s opinion the Honourable Minister, NRE, has been misinformed by his officers. “GGDMA said that to ensure the industry, which has seen a significant number of operations closed this year, remains alive, it had asked for a number of actions to be taken by the Government. These include a reduction of rental payments by 2 percent for small and medium scale miners once the price for gold is less than US$1,400 per ounce; duty free allowance for spare parts on equipment which already enjoyOperators are asking Govt. to revisit the interior roads’ programme as part of measures to help the sector recover.duty free tariff status, including excavators; reduction of the tax on the price of fuel and reconvening of the inter-ministerial task force that is supposed to meet, discuss and make recommendations to President Donald Ramotar.With regards to the duty free allowance on spares, GGDMA said it wanted these to be extended to the small and medium scale miners. Large scale miners presently benefit from this concession. GGDMA insisted that the Ministry has spoken of benefits to miners on duty free concession, but these benefits are only for large mining operations.“The association perceives there has been a breakdown of communications as it refers to the Ministry statements on duty free for spare parts on equipment, and the reduction of tax on fuel. For the record,Nike Air Vapor Max Flyknit, these statements can be deemed accurate, inter alia, the Mining Industry but the concessions are only extended to large scale miners and not small and medium scale.”With regards to a $1B allocation that Government says it has allocated for improving mining technologies and mercury free mining, GGDMA said that while it applauds the initiative, the intervention will only be long term and not likely to bring immediate relief to the industry.Even road works being conducted on interior roads are a problem, with delays being the biggest issue.“The association also appreciates the hundreds of millions of dollars voted for the maintenance of roads in the interior. However, bureaucracy has created a situation whereby only 25% of the monies, (to the best of our knowledge) allocated, has been utilized to date.” The mining body was critical in pointing out that while tenders inviting contractors for road repairs and maintenance are published in January of a given year, approval for these can take four to five months, significantly affecting the bill of quantities. This is because the roads would have deteriorated further from the publication of tender to the award necessitating further works.With respect to fuel, GGDMA said that through the intervention of President Ramotar, it received a licence to import and distribute fuel.“It is a fact that we assumed that this was an incentive, whereby we could have accessed and distributed fuel at a lower cost than the major distributors, thereby reducing the miners’ cost of operations.”GGDMA hinted that the incentive does not make much sense, as Government has signalled intentions to raise the taxes on fuel imported by the association once it falls below local market levels.This was conveyed by Minister of Finance, Dr. Ashni Singh who said that there is a “concept of fair play” and “Government would reserve the right to increase taxes on fuel the association imports if we are supplying fuel lower than the major distributors, the government can increase taxes up to 50% in order to level the playing field and ensure competitiveness.”GGDMA made it clear that it cannot compete with the major fuel distributors.“The association looks forward to continued dialogue with the Ministry,2018 World Cup Russia Jerseys, and urges urgent action,Adidas Stan Smith Shoes Sale, as most miners face an uncertain future in the industry as the price continues to slide.”Gold mining has been the largest foreign currency earner for the country in the last few years, with production breaking records in 2013. However,Cheap Nike Air Max 90 Mens, a sharp drop in world price last year from US$1900 to US$1200 per ounce has left the industry in tatters. Operating costs, especially from fuel, have been a major factor in several operations closing down. Hundreds of jobs have been lost because of the fallout. This year, it is most likely that the industry may not even make 400,Air Max 97 Undefeated Uk,000 ounces, far below the target of 481,000 ounces. |
