Trotman denies 2 gold companies buoying economy

…says small miners responsible for huge declarations

Natural Resources Minister Raphael Trotman has vehemently denied assertions by the People’s Progressive Party/Civic (PPP/C) that two large-scale gold companies were responsible for the vast majority of gold being mined in Guyana and had essentially buoyed the local economy.

Trotman made the declaration on Friday evening in the National Assembly during a debate on a motion, which essentially called on parliamentarians to adopt the policies adumbrated by Head of State, David Granger, when he addressed the Assembly on October 13.

Trotman, in seeking to rebut the assertions related to the gold mining industry, revealed that up to the end of October last, gold declarations had reached 545,000 ounces.

Of this amount, according to Minister Trotman, small- and medium-scale miners are responsible for a whopping 362,000 ounces.

The two major companies, he said, brought in only 183,000 ounces representing some 33 per cent of the overall production.

According to Minister Trotman, the two companies – Aurora Gold Mines and Guyana Goldfields Inc, are making their contribution but it is not on their backs or shoulders the mammoth declaration is based.

Minister Trotman said the projection of 550,000 ounces of gold as envisioned by the Finance Minister in his budget presentation would be met.

“We shall make the target and that target will be met by average man and woman involved in mining,” Trotman noted, adding that this would be supplemented by the declarations of the two large companies.

Trotman’s presentation was made after a number of speakers from the Opposition benches, including former President Bharrat Jagdeo, who had proffered the argument that it was in fact the performance of the two companies that was responsible for gold essentially buoying the Guyana economy.

Jagdeo, at the time, told the House that the President had lamented that the coalition A Partnership for National Unity/Alliance For Change Government (APNU/AFC) had inherited a parlous economic situation, but this was far from reality.

According to the Opposition Leader, the country at the time was booming with investment opportunities, noting that the two new gold mines were set up during the tenure of the People’s Progressive Party/Civic (PPP/C).

Jagdeo used the opportunity to lambaste the Granger Administration, saying that his Government has been unable to attract a single large-scale investment of any worth.

This, he said, is the case despite the tonnes of trips being taken by Ministers and their families at the expense of taxpayers.