{"id":15816,"date":"2024-01-24T17:49:56","date_gmt":"2024-01-24T17:49:56","guid":{"rendered":"https:\/\/ncnguyana.com\/2023\/?p=15816"},"modified":"2024-01-24T17:49:58","modified_gmt":"2024-01-24T17:49:58","slug":"gold-and-bauxite-production-to-increase-government-initiatives-unveiled","status":"publish","type":"post","link":"https:\/\/ncnguyana.com\/2023\/gold-and-bauxite-production-to-increase-government-initiatives-unveiled\/","title":{"rendered":"Gold and Bauxite Production to Increase: Government Initiatives Unveiled"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n\n<p>The Guyanese government, in collaboration with private sector entities, is implementing a series of measures aimed at boosting gold and bauxite mining. <\/p>\n\n\n\n<p>According to Minister of Natural Resources Vickram Bharrat, the government is confident that these interventions will lead to increased production in these crucial sectors.<\/p>\n\n\n\n<p>In the 2023 budget report, a notable 11% reduction in gold production and declaration was observed. <\/p>\n\n\n\n<p>Minister Bharrat acknowledged this decline, mentioning that gold production has been decreasing since 2016. <\/p>\n\n\n\n<p>However, he expressed optimism about a potential increase this year, particularly with the allocation of 2 billion dollars dedicated to managing the gold sector. <\/p>\n\n\n\n<p>The government has distributed approximately 100 claims within a property formerly controlled by Troy Resources, providing opportunities for Guyanese small miners.<\/p>\n\n\n\n<p>Minister Bharrat highlighted collaborations with large-scale gold exploration companies operating in various regions across Guyana, anticipating a boost in production when these operations commence. <\/p>\n\n\n\n<p>Aurora Gold Mining, the first company venturing into underground mining, has already initiated significant investments.<\/p>\n\n\n\n<p>In addition to gold, the bauxite industry experienced a 20.4% reduction in the previous year. <\/p>\n\n\n\n<p>Minister Bharrat pointed to strategic infrastructure and policy initiatives, including Bosai&#8217;s recent commissioning of a new kiln and their exploration of a new deposit known as the Kara Kara deposit, estimated to be over 3 million tons.<\/p>\n\n\n\n<p>Despite the challenges faced in 2023, some sub-sectors within the extractive industry demonstrated substantial growth. <\/p>\n\n\n\n<p>Mining and quarrying experienced a 42% increase, with sand extraction growing by 98%, and stone and manganese extraction increasing by 21%. <\/p>\n\n\n\n<p>This signifies positive momentum in the extractive industries.<\/p>\n\n\n\n<p>The government&#8217;s commitment to supporting and revitalizing these vital sectors is evident through these targeted measures, aiming for sustained growth and development.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Guyanese government, in collaboration with private sector entities, is implementing a series of measures aimed at boosting gold and bauxite mining. According to Minister of Natural Resources Vickram Bharrat,&hellip;<\/p>\n","protected":false},"author":4,"featured_media":15817,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[360,350],"tags":[],"class_list":["post-15816","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","category-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/15816","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/comments?post=15816"}],"version-history":[{"count":1,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/15816\/revisions"}],"predecessor-version":[{"id":15818,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/15816\/revisions\/15818"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media\/15817"}],"wp:attachment":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media?parent=15816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/categories?post=15816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/tags?post=15816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}