Natural Resources quarter year performance – US$7.4M from forest exports -145,133 ounces of gold declared – Bauxite sees 229,441 tonnes

 

DPI, GUYANA, Monday, April 30, 2018

The natural resources sector has earned US$7.4M from exported forest products in the first quarter of 2018 while 145,133 ounces of gold has been declared during that same period.

Minister of Natural Resources, Raphael Trotman, on Saturday, shared the performance of the sector with residents of Matthew’s Ridge during a public meeting.

Minster Trotman noted that production in the forestry sector is on the increase, an improvement from 2017.

As for gold, an ambitious 800,000 ounces target has been set for 2018. Minister Trotman is confident that declarations meet and surpass the target.  During the period January to March 2018, 13,000 metric carats of diamonds were also declared.

The Minister pointed out that there are efforts by the Ministry to update the mining regulations and policy.  “We are focusing on how we can make mining better.”

Bauxite first quarter productions was 229,441 tonnes despite Rusal Guyana’s work stalling following sanctions on its parent company by the US.

Meanwhile, sand’s first quarter production was 224,948 tonnes while stone was 52,016 tonnes. Minister Trotman noted that government intervention last year allowed for local these producers to supply the airport expansion project.

The government remains committed to promoting the extraction of the country’s natural resources in a sustainable and environmentally friendly manner, Minister Trotman noted.

 

By: Tiffny Rhodius

 

Editor’s Note: Rusal Guyana is a majority shareholder in Bauxite Company of Guyana Incorporated (BCGI) and a subsidiary of RUSAL.