Guyana’s mining industry is a repository of exciting prospects. Not only is the country richly endowed with natural resources, but the economic transformation coupled with the government’s aggressive developmental goals is moving the mining industry to a new level.
Mining contributes 16% of the country’s Gross Domestic Product and 56.4% to Guyana’s export earnings – with gold, diamond, bauxite, quarry stones, and sand and loam silica. In 2019 alone, the sector has benefitted around 200,000 locals in terms of economic opportunities.
There is still much to be explored in Guyana’s mining resources, especially in the nine-mile deposit of the Barama-Mazaruni Greenstone Belt of the Guiana Shield which is part of the bigger NW-SE trending Makapa-Kuribong Shear Zone that extends from Venezuela, through Guyana, and French Guiana. Greenstone belts are known to have rich deposits of many metals which include, among others, gold.
Given this great potential, the Guyanese government has made sure that the utilization of these natural, non-renewable resources must benefit key players in the market, most especially the Guyanese.
For one, several legislative supports have been passed to ensure sustainable development that facilitates attractive policies among local and international investors such as the reversing of value-added tax on machinery and equipment, reversing of royalty, the establishment of fairer, and more transparent systems, and accelerating projects in non-traditional sectors.
On top of this, other sectors that are key to the success of the mining industry have also mobilized programs to help improve mining in the country. This includes aggressive infrastructure development for improved access and logistics and continued support to uncover potential in mining.
Excel Guyana has been a leader in the mining industry. The firm’s leadership team of Kris Sammy, CEO and Michael Smith, Director, were co-founders of AlphaGold Corp., a mining project generator focused on the Guiana Shield. They were also founding members of Avalon Investment Holdings, which completed a successful RTO on the TSX Venture Exchange in 2020 for a public listing of the renowned Omai Gold Mines project.
With this track record, it would be strategic to partner with Excel in building your mining venture in Guyana. From the moment a business enters the Guyana Market, Excel’s expert advisors work closely with them to launch their business operations efficiently through government relations and orientation, construction management, site and executive security, procurement and logistics, employee relocation, recruiting and human resources, and expert accounting among others.