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GEORGETOWN– Guyana says it is in course to record gold production for this year after indicating that 475 202 ounces of the commodity had been declared at the end of September.
The Ministry of Natural Resources said that total export earnings as at September 29, stood at US $603 980 775 compared with US$575 869 243 for the same period last year.
It said the target set for 2017 is 700 000 ounces and is predicting that the figure will be surpassed as a result of increased production and declarations in the last quarter of the year as is customary.
Further, recent declarations of enhanced production by Guyana Goldfields Inc. reinforces the view that economic stability and world market prices are driving higher production, the ministry added.
The authorities said that small and medium scale miners produced 309 787 ounces while the two large mining operations Guyana Goldfields and Troy Resources produced 117 002 ounces and 48 412 respectively so far this year.
“We continue to implore all miners to declare their gold to the Guyana Gold Board or to licenced gold dealers. The Government of the Cooperative Republic of Guyana is committed to working with miners to ensure that their issues are addressed as together we work to surpass 2016’s record production of 713 000 ounces,” the Ministry of Natural resources said in the statement. (CMC)