May 18, 2011 issue |
Guyana Focus |
Guyana's gold rush picks up steam |
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Fuelled by record high prices; a substantial influx of foreign capital; and the discovery and on-going development of several potential large scale deposits, Guyana's gold rush is heating up at an unprecedented pace.
Not since the hype over Omai Gold Mines (majority-owned by Canadian-based Golden Star Resources Ltd.), which extracted some four million ounces of gold over a 10-year span ending in 2005, has there been such great interest in exploring for gold in the land once known as El Dorado.
Incidentally, gold mining is not new to Guyana. Historically, the country has |
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produced about 150,000 ounces of gold annually, mainly through alluvial mining by small scale operators.
Large scale mining activities have been constrained by poor infrastructure – road, water, power, availability of supplies and high capital costs - given that gold deposits are located in the undeveloped interior region of the country.
More recently, during the 10-year period, 2000-09, production averaged 335,356 ounces per year, peaking at 455,919 ounces in 2002. However, once the Omai mine was depleted in 2005, production fell to 182,216 ounces in the following year but has been picking up steadily since to reach 299,823 ounces in 2009.
Some sources estimate actual production to be as much as 25 per cent higher than official production statistics which do not account for undeclared production that is traded through unofficial channels.
Heightened activity in the sector has been driven largely by several publicly-listed Canadian-based companies, some of which have either acquired or established joint ventures with local mines and operators.
The attraction of Guyana lies in the theory that the Guiana Shield, which stretches into Suriname and Venezuela and the gold-rich West African Birimian Shield were once geologically linked and accordingly developed simultaneously. Given that several large gold deposits have been found in the Birimian Greenstone Belt of West Africa, it is believed that similar deposits exist in Guyana.
This theory has fuelled the flood of investors into the country which has pro-mining policies and is open to foreign investments; accompanied by modern exploration techniques which have not traditionally been used in the country.
While new large scale exploration activities have not yet led to a dramatic increase in production – it will take another two years or so for current large-scale exploration activities to result in material production – record high gold prices have contributed to gold becoming the largest export in terms of value, surpassing sugar which has historically been the leading export.
Since the end of December 2000, gold prices have risen almost five-and-a-half times, from US$271.45 per ounce to $1473.64 an ounce at April 30, 2011. Although prices have been marked by substantial volatility, they have trended higher since 2004. Last year's historically high prices were due to a combination of strong investment activity; a recovery in jewellery demand (especially in India); and a normalization of gold demand in technological applications to historical levels. While mine production increased slightly in 2010, recycling activity slowed down marginally and central banks became net buyers for the first time in two decades.
In Guyana, gold accounted for an average of 25.64% of total exports between 2000 and 2009, reaching 37.3% of total exports last year. In terms of value, gold exports have more than doubled in the same period, growing from US$123.3 million in 2000 to US$281.7 million in 2009.
In the 2000-09 period, gold exports averaged 333,448 ounces annually, with a high of 451,251 ounces in 2002. Based on official production and export statistics, an average of only 2,000 ounces annually have been retained for domestic consumption in the 10-year period – which may provide an indication of the existence of an underground market for the commodity.
Comparatively, the value of sugar exports has remained relatively flat at US$118.8 million in 2000 and US$119.8 million in 2009, although it did reach a high of US$150.1 million in 2007.
From all indications, Guyana has strong potential in gold. As the gold rush continues to gain steam, questions remain over whether increasing exploration activities will run into conflict with the country's Low Carbon Development Strategy (LCDS) and Environmental Protection Act. Last year, the government indicated that this will not be the case, although reservations remain about potential restrictions.
Evidently, large scale mining, which the country has not seen before, with the exception of the Omai project, will result in the destruction of hundreds of thousands of acres of virgin forests. This has been a sore point in the debate between opponents and proponents of the LCDS.
The potential for environmental disasters also loom. The 1995 Omai cyanide spill which leaked over a million cubic meters of highly poisonous residues into tributaries of the Essequibo River, and is regarded as one of the largest mining disasters ever, is still fresh on the memories of the affected communities.
Another issue which has stirred much debate in the past is how much value will the country realize from extensive mining activities. In the case of Omai, the country had a five per cent stake in the company. Where the government stands now is not known although some officials are calling for a bigger stake.
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Bishop Edghill sues Vieira,
Sharma TV for $25M |
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Bishop Juan Edghill |
Georgetown — Bishop Juan Anthony Edghill, Chairman of the Ethnic Relations Committee, is suing television commentator Anthony Vieira over of a publication which was broadcast over Channel 6. The Bishop is claiming defamation from the remarks made by the former PNCR parliamentarian. Both Anthony Vieira and Chandra Narine Sharma, owner of the TV station, have been sued for $25M damages, jointly and severally.
The writ, signed by Attorney-at-Law Mohabir Anil Nandlall in the Supreme Court Registry yesterday, has commanded the defendants to enter appearance within 10 days after service. The statement of claim says that the plaintiff, Bishop Edghill, is and was at all material times a religious leader and a Pentecostal Bishop of national and international acclaim; the plaintiff is currently the priest in charge of Outreach Ministries International, an international Christian Church with connections and branches in several countries, worldwide.
The Plaintiff was consecrated a Bishop of the Pentecostal Church on the 8th day of February, 1995, by Archbishop Benson Idahosa, now deceased, of Nigeria, and Archbishop Willie Bolden of the United States of America at a public ceremony held at the Square of the Revolution, Georgetown.
The plaintiff is a member of the International Communion of Charismatic Churches, worldwide.
The plaintiff is also the Chancellor of Order of the Council of International Charismatic Bishops, United States of America.
The Plaintiff has served four consecutive terms as Chairman of the Guyana Council of Churches.
The plaintiff claims from the defendants, jointly and severally
(i) Damages in excess of $25M for libel published by the defendants of and concerning the plaintiff on the 4th day of May, 2011, on CNS television Station, Channel 6.
(ii) An injunction restraining the defendants by themselves, their servants and or agents, from repeating or republishing the said or similar libel of and concerning the plaintiff.
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Agro-processing firms showcase products at Toronto Trade Show
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Guyanese producers of processed foods at the Toronto Trade show |
Georgetown - Five producers of indigenous processed foods from Guyana participated in the annual SIAL-11 agricultural trade show in Toronto, Canada last week. The small and medium sized companies are involved in agro-processing businesses. The exhibition lasted from 8th to 14th May.
The participating companies were Jet's Enterprises (de Kinderen ECD), Tandy's Manufacturing Enterprises (Eccles, EBD), Original Juice (Grant Berthrum, Upper Pomeroon), Prestige Manufacturing and Bottling Enterprise (La Grange, WBD), and the Kuru Kururu Farmers, Crops and Livestock Association (Linden/Soesdyke Highway) which are all involved in the business of preserving, processing and bottling fruits, vegetables and other agricultural by-products for some years.
The exposition is expected to open up these businesses to the Canadian and American markets for their "Made in Guyana" products.
This trade mission is another spin-off of continued collaboration between the Guyana Manufacturing and Services Association (GMSA) and the Trade Facilitation Office (TFO) of Canada. The main objective is to provide access to the - Canadian market for Guyana's agricultural producers and processors, for artisans, furniture manufacturers and owners of indigenous enterprises that have brought their products up to international standard.
This is the second agricultural trade mission to Toronto this year that the GMSA has spearheaded and follows one held last January when eight local artisans, also from rural communities in Guyana, showcased a collection of intricate household artifacts designed with leather, cane, woods, clay, tibisiri and other indigenous derivatives at the Canadian Interior Design Show (IDS-11).
Funding for both these trade missions was provided by the Canadian International Development Agency (CIDA).
The exhibitors were selected after a rigorous process of evaluation and in-plant visits by GMSA's technical representatives and TFO's international consultants.
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GuySuCo commissions US$12.5M sugar packaging plant at Enmore |
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GuySuCo's new packaging plant |
Georgetown - The US$12.5M state of the art, Enmore Packaging Plant, which has the capacity to package 40,000 tonnes of sugar annually for both the local and export market, was commissioned two Mondays ago.
Previously the Guyana Sugar Corporation (GuySuCo) did packaging on a limited scale at Blairmont, where only 8,000 tonnes of sugar were packaged annually. Officials say the increased volume in production is expected to earn Guyana up to 35 percent more on exports. The construction of the packaging facility and modification to the existing Enmore factory were done by Surendra Engineering Corporation, an Indian company. The packaging facility is connected to the Enmore factory via an enclosed conveyor system. The sugar would be packaged in sizes ranging from ½kg, 1kg, 2kg, 25kg and 50 kg.
This increased packaging volume will lead to the company earning much more revenue when measured against the export of raw sugar to overseas markets largely because of added value.
Chief Executive Officer of the Guyana Sugar Corporation (GuySuCo), Paul Bhim told a large crowd of workers and others at the commissioning that the facility takes into consideration increasing demand for Guyana's packaged sugar, with the possibility of being improved to producing 80,000 tonnes annually. Bhim emphasized that GuySuCo's ability to add value to its product represents a significant achievement in the corporation's modernization programme and the industry's turnaround plan.
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Sithe Global offers guarantees
on the Amaila Falls Hydro project |
Georgetown - Sithe Global, the developer behind the construction of a hydro electric plant at Amaila Falls, is guaranteeing that the project will be completed in three and a half years at a cost of between US$650 and US$700 million. Sithe Global's Vice President (Development) James McGowan added that he could also guarantee that the project will be handed over to the government of Guyana, debt free, in 20 years
But he cautioned that if the developer defaults on the project, the financiers of the project will reserve the right to seize the assets and name a new developer. McGowan made these disclosures last Wednesday.
"There is no recourse to the parent company in the event of a default or a limited recourse," McGowan stated. He added that "In the event of a default by the company, the lender's rights are to step in and take ownership of the assets and most likely restructure the deal and to operate it with a new owner."
Sithe Global has identified China Railway First Group to build the Amaila Falls hydropower plant and has expressed confidence in the ability of China Railway First Group to build the plant in north-western Guyana. In July last year, the Guyana Government signed off on a loan deal to build the project and formalize the cooperation between the Guyana Power and Light Company, Sithe Global, China Development Bank and China Railway First Group Company Limited.
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Discount airline REDjet begins
Guyana-Barbados flights |
Georgetown - Discount airline REDjet commenced commercial operations in the Caribbean two Tuesdays ago, with its maiden flight to Guyana from Barbados. The airline promises to stick around "for years to come." The first flight to Guyana arrived at the Cheddi Jagan International Airport with 149 passengers on board.
The airline would initially be flying the Guyana-Barbados route four times a week and hopes to increase these to daily flights very soon. However, this will largely depend on the airline getting additional routes including Trinidad.
Chairman of REDjet, Ian Burns, said the goal of the airline is to ensure that "everyone" can fly. He said that the airline, with 89 employees from 17 different countries, is looking to put the spirit of adventure into its operations, putting an end to high fares for travelling in the Caribbean. The airline intends to open across the region as it develops destinations across the Caribbean, Latin America and the United States.
The airline has two MD-82 jet aircraft which are powered by two JT8D-217A engines. They have seating capacity of 172. REDjet has hired 17 pilots to command the aircrafts.
Minister of Tourism, Manniram Prashad said that the emergence of REDjet has seen fares on airlines that cost over US$400 to Trinidad being slashed by US$200, while another airline is looking to upgrade its fleet. He gave assurances that the Guyana government will do all that it can to support REDjet.
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Ministry of Education
launches US$5.12M GITEP project |
Georgetown - The Ministry of Education in collaboration with the World Bank launched the Guyana Improving Teacher Education Project (GITEP) last Wednesday at the Cyril Potter College of Education (CPCE). The project is aimed at improving the effectiveness and efficiency in the delivery of quality teacher education in the country.
According to Project Coordinator, Mr Tota Mangar, the venture is valued at US$5.12M, of which US$4.2M will be funded through a World Bank Credit with other financiers including the Government of Guyana and the Commonwealth of Learning and Local Sources coming up with the balance.
Mangar pointed out that once the project would have taken its course, it is anticipated that there will be more effective performance of teacher educators and student teachers; more efficient provision of teacher education, that is, reduced time and more focused content and supervision; better use of resources and improved management of teacher education programmes. The main beneficiaries of this venture will be the teacher educators and administrations at CPCE and the University of Guyana's School of Education and Humanities; students teachers, teachers and school children.
Mangar added that the project is designed in such a way that it will serve to bring to fruition a reduction in the time to complete a Bachelor's Degree in Education (B.Ed.) to four years, characterised by a two-year Associate Degree (ADE) and two years to complete the B.Ed.
With this programme in effect it is expected that 80 percent of teacher educators will fulfill the minimum qualifications of their updated terms of reference in alignment with the delivery of the new ADE and B.Ed. programme.
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Four-lane ECD Hwy to be extended |
Georgetown - Government has announced plans to extend the East Coast Demerara four-lane highway from Plaisance/Better Hope to Golden Grove shortly.
Government spokesman, Dr. Roger Luncheon, disclosed last Wednesday that the initial works will cost around $500M of public funds. He stated that "Funds have already been identified for the initial mapping, excavation and drainage works needed to be undertaken during the construction of the four lane highway. Most of the work that you would see being done initially would be on the northern side where the extension would provide for the four-lane road more readily available than on the southern side."
The East Coast Demerara four-lane highway currently extends from J.B. Singh Highway on the outskirts of Central Georgetown, to Plaisance.
The section of the East Coast Demerara corridor from Plaisance to Golden Grove has been under increasing pressure as more and more vehicles are allowed into the country. An estimated 10,000 new vehicles are being registered annually in the country with most of them going to the eastern counties.
Dr Luncheon said that the actual road construction would be tendered out to local contractors. The standard cost for a mile of roadway is US$5 million but it should cost less from experience, Luncheon noted.
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CRIME WATCH |
Ex-boxer shot and killed |
Georgetown — Linden 'Buckman' Mortley, former light-welterweight boxer, was shot and killed at around 7:45 pm last Sunday night on a bridge connecting Festival City to Lamaha Springs.
Mortley, of Sussex Street, Charlestown, was found lying on the bridge with a gunshot wound beneath the ear. He was clad in a white vest and a pair of three-quarter camouflage pants. His body was positively identified by his wife, who visited the scene after Kaieteur News informed her of his death.
Police cordoned off the area and searched for spent shells but reportedly found none. While there are reports of a robbery in the area earlier, it is unclear how Mortley met his demise.
Kaieteur News reported that Mortley left his home Sunday night after receiving an urgent telephone call.
Mortley's boxing career spanned from 1985 to 1993. He was described as a very capable boxer.
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Shot, robbed at gas station |
Georgetown — Floyd Dalton, a 43-year-old contractor of Bagotstown, East Bank Demerara, was shot and injured last Saturday night as he was about to enter his car.
Police stated that Dalton received a gunshot wound to the left side of his body. He was taken to the Georgetown Public Hospital Corporation (GPHC) after the shooting where he was treated and sent away.
According to the police, the incident occurred at about 12:15 pm. Dalton was about to enter his motor vehicle in the Shell service station compound at New Market and Camp Street, Georgetown when he was confronted by an armed man who shot him to his left side and took away his pouch containing $400,000 in cash. The gunman then escaped.
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$3.7M stolen in home invasion |
Georgetown — Three bandits invaded a home in Grove New Housing Scheme and escaped with millions of dollars in cash and valuables after holding up the family last Thursday evening.
Surajdai Jaipaul (Kavita) of Section 'C' block 'Y', Grove, East Bank Demerara, told Kaieteur News that she was in her yard when three bandits entered her home through the back door. She said one of the intruders brandished his gun in front of her face and motioned her to remain quiet. He then took her into her house while one of the armed men pushed her daughter behind her. Once inside the house the bandits demanded her valuables.
They threatened her with their gun and ransacked her home. They located a safe that contained $3.7M which they took away along with two cellular phones and her jewellery. The men escaped on two motor-cycles.
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Jamaican on arms charge |
Georgetown — Teckle Ellis, 34, a Jamaica national was remanded to prison last Friday following a charge of illegal possession of arms and ammunition. He appeared at the Sparendaam Magistrate's Court before Magistrate Judy Latchman last week.
It is alleged that on Monday May 9, at a house in Cummings Lodge, Ellis had a .45 Glock pistol along with eight matching rounds without being licensed. He pleaded not guilty and was remanded to prison until June 10.
The police carried out a raid on a house in Cummings Lodge two Mondays ago and found an unlicensed .45 Glock pistol, along with eight matching rounds and seventeen .38 bullets. The police also seized a CBR motorcycle, a television set, and a stereo set with amplifier and speakers which are suspected to be stolen or unlawfully obtained. They also seized six cell phones.
Two Guyanese and three Jamaican men were arrested but based on advice from the Director of Public Prosecution two of the Jamaicans were released.
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Visiting Guyanese robbed |
Georgetown — Bandits seem to be targeting overseas based Guyanese who were returning home for holidays recently.
Manta Luella, 20, who arrived in the country two Saturdays ago, was relieved of cash and other valuables, including her Canadian passport by three men, two of whom were armed with handguns.
According to police reports, Luella, arrived at the Cheddi Jagan International Airport from Canada at around 1:15 am and was picked up by her family friend Daneshwar James. On arrival at Delph Street, Campbellville where her parents reside, three suspects approached her and James.
Two of them pointed handguns at the victims while the third suspect took away Luella's shoulder bag and relieved James of his I-phone, then made good their escape.
And earlier at around 9:30 pm the same evening another overseas-based Guyanese was robbed at gunpoint by two men.
Terrence Solomon, 49, of Brooklyn, New York, who was staying at East La Penitence, was relieved of one I-phone, $25,000 in local currency, US$300 and one gold chain and ring.
The police said that Solomon was sitting in his car in front of the La Penitence home and was talking on his cellular phone, when the suspects approached him. The men pulled out handguns from their pants waists and pointed them towards the victim. One of them dealt Solomon a lash to his head with the firearm and relieved him of the items. The robber and his accomplice escaped on foot through an alleyway. Solomon was escorted to the Georgetown Public Hospital to seek medical attention.
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CPG man with illegal gun |
Georgetown — A member of a Berbice Community Policing Group (CPG) was arrested last week following the recovery of an illegal weapon at his home in Corentyne.
He is believed to be part of a gang that carried out the recent attacks in the community.
The police search followed their investigations into the armed robbery committed on businessman Deochand Hemchand and his wife at No. 11 Village, Corentyne, two Sundays ago. Deochand was brutally chopped and beaten by the bandits who eventually fled with a substantial sum of cash, jewelry and several phone cards.
During the search of the CPG member's home a disassembled 12-gauge shotgun, the make and serial number unknown, was found in a kitchen cupboard. The CPG member claimed that he found the gun in a clump of bushes at the waterside. Another suspect who admitted to being part of a gang that had been targeting returning Guyanese as well as being involved in piracy told investigators that they would normally rent the shotgun from the CPG member to commit their criminal acts.
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Father, brother accused of rape |
Georgetown — A 17-year-old Linden girl has alleged that she was raped by her 46-year-old father and 18-year-old brother.
However, the man, who is a mini bus driver from Linden, and his son were held by the police last week following the allegations, but have since been released from custody as the police continue their investigations.
The victim, whose mother is dead, reportedly told police that her brother began to sexually molest her last year. After the molestation continued, she complained to her father who, instead of looking into the matter and reprimanding her brother, did the same to her too.
One report indicated that the story came to light on Tuesday after an anonymous caller reported the matter to the Probation and Family Welfare Unit in Linden. According to Kaieteur News after the police were called in the girl was taken to the Linden Hospital Complex, where she was examined, and it was confirmed that she was sexually active.
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Govt signs US$4M deal with Indian company for drainage pumps |
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Agriculture Minister Robert Persaud at the signing of the agreement |
Georgetown - An agreement worth some US$4M ($800M) was signed two Fridays ago between Guyana and the India-based company, Surendra Engineering Corporation Limited, for the supply of 14 large capacity drainage pumps to the country.
The project, which falls under a special line of credit from the Government of India, would be a boost to the country's resources to combat the threat of flooding, especially on the coastland.
The acquisition of these 14 pumps plus those of Guyana Sugar Corporation brings the total to almost 100 fixed and mobile pumps. These pumps are expected to service an estimated 60,000 acres of lands. Areas at which the pumps are likely to be placed include Windsor Forest, Huntley, Black Bush Polder and Lima on the Essequibo Coast.
The company will be supplying eight stationary pumps and six mobile ones and will aso be providing technical support and training. Guyana will also be looking to send its engineers to India for training, Agriculture Minister Robert Persaud said.
Persaud disclosed that bidding was conducted in keeping with international standards. However, consistent with the terms of the credit facility Indian companies were allowed to bid.
The Mumbai based company has also been involved in GuySuCo's Enmore sugar packaging plant which was recently commissioned.
Minister Persaud, said the pumps are critical to medium and long term plans to manage the effects of climate change which, over time, has been threatening the country. Each pump will have the capacity of discharging up to 200 cubic meters of water per second. The biggest pumps currently in the country are of 150 cubic meters per second capacity.
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Millions of Euros in the pipeline for sugar industry from EDF |
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Geert Heinkens |
Georgetown - The European Union (EU) is gearing up to commence its 10th European Development Fund (EDF) with Guyana valued at some 51 million Euros. It is also ready to plug another 75 million Euros into the drive to make the local sugar industry competitive.
This was disclosed by EU's Ambassador to Guyana, Geert Heikens, two Fridays ago at celebrations to mark Europe Day.
Heikens went on to say that while the EU's cooperation programme with Guyana continues, there is room for improvement. He cited the "unfortunate" fact that Guyana lost out on 14 million Euros that was part of the EU's support to help the sugar industry become competitive following the change in trading arrangements with Europe which resulted in the loss of preferential market access.
Heikens said 90 million Euros were available in the first round of funding and now another 75 million is available.
"I sincerely hope these amounts will end up in (the) treasury…and we will use it to make the Guyana sugar industry a modern and competitive industry," Heikens said.
Prime Minister Samuel Hinds thanked Europe for its assistance, noting that the shift in trading arrangements has put emphasis on making the sugar industry competitive. Finance Minister Ashni Singh was also present at the program.
In 2010, the European Commission disbursed more than 21 million Euros in development assistance to Guyana, and part of those funds went to supporting the establishment of the Enmore Packaging Plant. Other funds went to support the country's sea defence and low income housing programmes.
Heikens said that this year marks the transition from the Ninth EDF to the 10th EDF. He said the latest round of funds would be concentrating on general budget support and sector budget support to the sea defence sector. He said the EU will not be sending monitors to the elections, based upon the experience of the last elections. "It is a clear sign of our trust," Heinkens added.
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Special committee to investigate reports of threat by RUSAL's GM |
Georgetown - A special committee comprising senior managers of the International Alumina Division is expected in Guyana this week to investigate reports that RUSAL's General Manager Ruslan Volokhov had threatened some workers with violence.
This was disclosed in a statement by the local office of Russian-owned, RUSAL/Bauxite Company of Guyana Inc (BCGI) last Sunday. The statement added that the General Manager has since proceeded to leave the mine site for the time of the investigation. The company also assured that upon completion of investigation it will take such actions as deemed appropriate.
Certain sections of the media recently reported that RUSAL's General Manager in Guyana is accused of using a spade to threaten workers. According to RUSAL's local representative, Ramdeo Kumar, on Sunday, May 8, at 4:25 am, management was informed of a problem with the water system at its Aroaima campsite. This problem was also being experienced by all residents of Mapletown, including senior staff at their quarters.
"Management promptly responded and resolved this problem by 7:10 am and water was restored. Out of 189 employees on day's shift, 19 employees chose not to report to work due to "lack of water" for bathing, etc."
The General Manager, on learning that they were not going to work, proceeded to the campsite to investigate.
"He remonstrated strongly with the employees as they were affecting the production program for the shift and then they left for their shift (six hours later). This matter was considered closed by management at this point as everything was restored."
However the Guyana Trade Union Congress said last Friday that it received complaints from workers that Volokhov was carrying a spade in his hands and "threatened to bash their heads and faces then bury them. This threat was made to the workers when they were in the company's bus at the camp site."
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US proposes new rules for additional disclosures on remittances |
Georgetown - The US has proposed the introduction of new rules requiring money transfer agencies to disclose more information about remittances.
This has come about as a result of complaints that the agencies have been deducting hidden fees that left families with less money than expected. The new disclosures include fees, the applicable exchange rate and the amount of currency to be received by the recipient. Consumer and public-interest groups have complained that Caribbean and other immigrants are paying excessive fees to send money home, and that the fees are not adequately disclosed.
Remittances to Guyana were estimated to be about 17% of the Gross Domestic Product of the country. Last year they were forecasted to be in the vicinity of US$280M, an increase of about 10% over 2009. The largest money transfer agencies operating in Guyana are Western Union and Money Gram.
The US Federal Reserve said that the proposed rules are expected to be finalised by the new US Consumer Financial Protection Bureau, a consumer watchdog agency. It said the new agency will implement provisions of the Dodd-Frank financial overhaul that the US Congress passed last summer which mandates that remittance transfer providers disclose more information.
The US Federal Reserve said that this summer the CFPB will inherit consumer protection powers from it and other regulatory agencies, adding that, as part of that transfer, the bureau will take over work on remittance transfers. It also said that the Consumer Financial Protection Bureau will have broad authority to write new rules and supervise financial firms.
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Voters Registration list for upcoming elections |
Claims and objections commences |
Georgetown - The Guyana Elections Commission (GECOM) commenced the Claims and Objections exercise regarding entries on the Preliminary List of Electors (PLE) for the upcoming general and regional elections two Mondays ago. The mandatory exercise will conclude on June 12, 2011.
During this exercise persons who would be 18 years and over by the qualifying date of September 30, 2011 could become registered. Such persons must be Guyanese citizens by birth, descent, naturalization or are citizens from a Commonwealth country living in Guyana for one year or more.
Also persons who have moved to a different residential address since they were last registered can also apply for a transfer during this time. One can also apply for a correction if there are errors on one's registration record/ID card.
Persons can also apply for a change of name, if there was a name change, for example through marriage or Deed Poll, after the 2008 house-to-house registration exercise.
Persons can also object to the inclusion of the name of any person who is suspected not to have met the eligibility requirements for such inclusion, providing that the objector is registered in the same Division/Sub-Division as the person he/she is objecting to.
Persons desirous of conducting any of the above transactions are required to visit the GECOM Temporary Claims and Objections Office that is responsible for his/her area of residence.
The deadline for application for entry on to the PLE, name changes, corrections and transfers is June 9 and objections to entries on the PLE is June 12.
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Man loses hand cleaning paddy dryer |
Georgetown - Toolsie Ram, a paddy drier operator at Caricom Rice Mills Limited (CRML), Anna Regina, Essequibo Coast lost his right hand while cleaning a paddy dryer last Sunday.
Ram, said to be in his late 40s, of Affiance Village, Essequibo Coast is said to be the sole breadwinner for his family and had been working with the company for over 15 years. Up to last Monday he was a patient at the Suddie Hospital.
The industrial accident occurred shortly after 4:00 pm last Sunday and resulted in Ram's right hand being severed just above the wrist. A company official said the drier should not have been on whilst being cleaned but Ram told demwaves.com that the machine was off and then came on suddenly. The official added that the industrial accident would be reported to the Ministry of Labour and the insurance company. Reports are being compiled to seek insurance compensation for the man who has been working with the company for more than 15 years.
According to demwaves.com Agriculture Minister Robert Persaud has directed the Guyana Rice Development Board (GRDB) to investigate the incident along with the labour ministry's Occupational Health and Safety department.
This is the first such serious industrial accident at CRML in years. CRML is Guyana's second largest rice producing entity. It was established in 1990 as a subsidiary of the East Caribbean Group of Companies (ECGC) and employs more than 130 residents of the predominantly rice-producing region.
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Skeldon factory to boost production |
Georgetown - The Guyana Sugar Corporation's (GuySuCo) Skeldon sugar factory will be operating at improved capacity by the second crop.
This was disclosed by Paul Bhim, CEO of GuySuCo, who spoke at the launch of Project Gold – the new packaging facility at Enmore – two Mondays ago. Project Gold is intended to boost the sugar industry's fortunes at a time when production is down and prices are not what they used to be.
"The [Skeldon] factory will be boosted by the returning into operation of the No. 1 boiler in the second crop of this year. That would enable [our capacity] to increase and be able to take all the canes in Skeldon, and there are a lot of canes in Skeldon," Bhim said.
About 20 personnel from the Chinese contractor that constructed the factory moved in on location, working to fix the damaged boiler. According to Bhim, the team had been dismantling the tubes from the old boiler in order to replace them with new tubes. He had stated last month that these works are expected to be completed by the end of June, in time for the second crop at Skeldon, noting that the work was ongoing and progressing fairly well.
Minister of Agriculture Robert Persaud said that the challenge for the industry was not the unavailability of canes, but getting those canes from the field to the factory. He said that more private cane farmers must get on board the company's efforts at achieving the production targets set for the year – 300,000 tonnes. It is for this reason that the Government of Guyana is backing the efforts of the private cane farmers to the tune of $600 million in support, through a range of interventions. He expressed hope that the company comes close to its target for the year, if not surpassing it.
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