{"id":26366,"date":"2025-02-09T00:15:23","date_gmt":"2025-02-09T00:15:23","guid":{"rendered":"https:\/\/ncnguyana.com\/2023\/?p=26366"},"modified":"2025-02-09T00:15:24","modified_gmt":"2025-02-09T00:15:24","slug":"guyanas-gold-production-earns-record-revenue-of-us989-9m-in-2024","status":"publish","type":"post","link":"https:\/\/ncnguyana.com\/2023\/guyanas-gold-production-earns-record-revenue-of-us989-9m-in-2024\/","title":{"rendered":"Guyana&#8217;s Gold Production Earns Record Revenue of US$989.9M in 2024"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n\n<p><em>By Delicia Janneire, January 15, 2025<\/em><\/p>\n\n\n\n<p>The Ministry of Natural Resources has reported a record rise in revenue from gold production, with the sector earning US$989.9 million in 2024. <\/p>\n\n\n\n<p>Minister Vickram Bharrat attributed this success to a recovery from earlier challenges, which led to a significant rise in gold production and declarations.<\/p>\n\n\n\n<p>This represents an increase of about US$181 million over the 2023 earnings. <\/p>\n\n\n\n<p>Total gold production reached 434,067 ounces, up slightly from 432,113 ounces in 2023. <\/p>\n\n\n\n<p>Minister Bharrat expressed optimism, noting that this is the first increase in production in nine years, reversing a trend of declining production since the peak year of 2016, when Aurora and Troy Resources began producing.<\/p>\n\n\n\n<p>The return of small and medium-scale miners to the sector played a significant role in this growth. <\/p>\n\n\n\n<p>Over the past three years, the Guyana Geology and Mines Commission (GGMC) provided over 1,000 mining lots to these miners, contributing to the overall increase in gold production.<\/p>\n\n\n\n<p>Minister Bharrat also highlighted improvements in large-scale production, with companies achieving nearly a 95% recovery rate, an industry standard. <\/p>\n\n\n\n<p>Efforts are underway to assist smaller miners, who have traditionally struggled with recovery rates of 40-45%, by providing support to enhance their efficiency.<\/p>\n\n\n\n<p>To further boost production and eliminate illegal mining, the GGMC has been tasked with strengthening its monitoring systems.<\/p>\n\n\n\n<p>The record earnings from gold production are seen as an encouraging sign for Guyana&#8217;s mining sector, providing a foundation for continued growth and development.<\/p>\n\n\n\n<p>4o mini<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Delicia Janneire, January 15, 2025 The Ministry of Natural Resources has reported a record rise in revenue from gold production, with the sector earning US$989.9 million in 2024. Minister&hellip;<\/p>\n","protected":false},"author":4,"featured_media":24837,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[350],"tags":[],"class_list":["post-26366","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/26366","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=26366"}],"version-history":[{"count":1,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/26366\/revisions"}],"predecessor-version":[{"id":26367,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/26366\/revisions\/26367"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media\/24837"}],"wp:attachment":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media?parent=26366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/categories?post=26366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/tags?post=26366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}