A contract valued at more than US$1.8 million was signed on Wednesday by the Ministry of Natural Resources and United States company, Global Venture Natural Resources Consulting for a mineral mapping project in Guyana.
The project is expected to upgrade critical data in the mining sector that has not been updated since 1968.
The most adequate technology and tools will be used to complete the multi-year project that will bring direct benefits especially to small and medium-scale miners.
Earlier this year, $400 million was allocated in the national budget for this mineral inventory that is intended to grow the country’s extractive sector more sustainably within the context of the Low Carbon Development Strategy (LCDS).
Ministry Permanent Secretary Joslyn McKenzie and Chief Executive Officer of ‘Global Venture’ Emily King signed the contract in the upper conference room of Duke Lodge in Kingston, Georgetown.
Speaking with the News Room, subject minister Vickram Bharrat spoke about some of the benefits that the project will bring.
“We will be in a better position now to understand what exists beneath the earth’s surface in our country so we can make more informed decisions.
“If a miner approaches GGMC (Guyana Geology and Mines Commission) for a block or piece of land to do mining, for instance, they will need data.
“Any miner – you’re awarding a piece of land to them – the first thing they want to know is if there is gold there. When we award land now, we will be in a better position to give updated information to miners and if we know there is a property with no mineralisation, then we would not issue that land because it means that miners will find nothing,” Minister Bharrat explained.
“We will be in a better position after this exercise not to issue those lands but to issue lands where there are traces of minerals. It simply means that we will be saving our forests too,” he added.
US Ambassador to Guyana, Nicole Theriot shared that such mineral mapping will provide crucial data that can guide policy making, attract investment, and ensure that resource extraction is conducted in a responsible, sustainable manner.
According to her, one of the primary benefits of mineral mapping is that it provides a clear picture of what lies beneath the surface, can enable identification of new areas for exploration, can enable the optimisation of existing operations and minimise environmental impacts.
The government can also better manage and regulate mining activities ensuring that they align with national priorities, Ms. Theriot added.
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