Small and medium-scale miners will continue to benefit from fuel and concessions on mining equipment parts as the contracts were renewed today by the relevant Ministries and associations.
The Finance and Natural Resources Ministries, and the Guyana Gold and Diamond Miners’ Association (GGDMA) renewed two contracts for concessions relating to the mining industry. Small and medium-scale miners will now benefit from duty-free concessions on imported equipment and a 10 per cent tax reduction on fuel.
Finance Minister Winston Jordan and GGDMA President Terrence Adams shake hands after signing two agreements. Also in photo is Natural Resources Minister Raphael Trotman (centre)
The agreement provides for eligible gold miners to be exempted from the payment of customs duties on fuel, matting, All Terrain Vehicles (ATVs), jackhammer drills, flex hoses, expanding metals, pumps, pump housing, impellers, shaft and engines.
Natural Resources Minister Raphael Trotman said Government is happy with gold declarations and the commitment of miners. He pointed out that the Government has no desire to hinder, frustrate or even close down the industry as some would suggest.
He added that while concessions are given, with every benefit comes responsibility. “We expect better declarations, we still believe that despite the high declarations that an amount of our gold, a significant amount of our gold is not being declared. These two agreements will not be signed and implemented, simply because you are a miner you shall be entitled; with the entitlement comes some responsibilities, and one such responsibility is good stewardship of what you have been given,” Minister Trotman explained.
The Minister further said that the country is transitioning into a green economy, so unsafe mining, unhealthy and bad environmental practices will not be condoned. Additionally, Minister Trotman said that the Government will not overlook miners who demand from the Government and do not give back (taxes).
“Roads have to be built, security has to be provided, airstrips have to be maintained and these require costs that Government bear,” Minister Trotman noted.
Finance Minister Winston Jordan in brief remarks said that the agreements will be valid for one year. He said that the gold industry is supporting the economy at the moment and that the Government of Guyana will continue to assist it in any way it can.
Minister Jordan further stated at the Government will never be interested in “killing any industry.”
“Taxes are very important to a country; we all use the roads, whether you are a miner, farmer or public servant, we all uses the roads. We use the lights, we use electricity. If we don’t want to pay our taxes, then a small section of society will forever be burdened with the taxes, and this is not something that the Government will countenance, and this is something that the Government will not shy away from, ensuring that everybody pays their fair share of taxes,” Jordan said.
President of the GGDMA, Terrence Adams highlighted that there is a lot of work to be done in executing the contracts, Adams said that the Association will be working along with the Ministries in the coming year to ensure that relevant persons pay their taxes.
The GGDMA’s President said that he is hoping that a meeting can be held before year end or early next year, so that a consensus can be reached to ensure that the small and medium-scale miners pay taxes.
Other officials present at the renewal of the contracts were representatives from the Guyana Energy Agency, and the Guyana Geology and Mines Commission.
