163,000 Ounces Gold Declared for first quarter

First quarter gold declaration is along projected lines to achieve record 700,000 ounces targeted for 2017.

Minister of Natural Resources Raphael Trotman, during a recent presentation in Lethem on the works of his ministry, revealed that 163,000 ounces of gold has been declared for the first quarter of 2017.

Minister Trotman said that the 2017 budget has set the target of 694,000 ounces of gold, but the ministry is aiming for 700,000 ounces.

Last year’s unprecedented declaration earned the country USD$730,915,229. The country recorded the highest gold declaration with 641,668 ounces, 16.6 percent above its target. Small and medium-scale miners accounted for 429,188 ounces while Guyana Goldfields and Troy Resources, large gold mining operations, contributed 145,236 ounces and 67,244 ounces respectively.

The Guyana Gold Board recorded 451,490 ounces of gold in 2015, surpassing the 380,000 ounces target. (GINA)