Archive for the ‘Development’ Category

New company formed to promote transparency and eradicate corruption

November 11, 2010 Leave a comment

Transparency International Guyana Inc., a new entity, has been incorporated under the Companies Act as a non-governmental non-profit organisation with the aim of promoting transparency and eradicating corruption. The founding directors – Bernard Crawford, David James, Fr. Compton Meerabux, Keith Park, Gino Persaud, Ms. Nadia Sagar and Enrico Woolford – have begun the process for formal recognition of the local entity as a National Chapter of Transparency International (TI), based in Germany.

TI which leads a global coalition against corruption originated in Europe in 1993.  It is an independent, non-political non-profit organisation that publishes annually the Corruption Perception Index, Bribe Payers Index and national surveys and indices. It has a global network of over 90 chapters and adopts a non-confrontational approach to promoting transparency and eradicating corruption in the public and private sectors.

The Secretary of the Guyana entity is broadcaster Enrico Woolford and the legal consultant is Christopher Ram. Membership of TIGI is open to resident and non-resident Guyanese individuals and organisations that subscribe to its By-Laws and Code of Conduct which require of its members high standards of transparency, accountability and ethical conduct. TIGI has commissioned a website on which it will make available all its incorporation documents, Code of Conduct and links to international and regional publications on corruption’s impacts, policy positions and working papers.

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Categories: Development, Guyana

GMV Minerals Inc. exploration program in Guyana underway

September 20, 2010 Leave a comment

Fifth Avenue Research Corporation has published a review of GMV Minerals Inc. (GMV.V), offering insight on opportunities to invest in a gold company in Guyana with blue sky potential.

GMV Minerals Inc.(GMV.V) is a mineral exploration company active since 2008. The company recently refocused its efforts on gold exploration and changed its principal business to sourcing and exploring mineral properties in Guyana. GMV Minerals Inc. has approximately 535,000 acres of land and forms one of the largest and most strategically focused exploration properties in Guyana.

The full equity review may be found at

GMV Minerals Inc. has a strong management team with more than 30 years experience in mineral exploration throughout North and South America. The company’s country manager, Mr. Alfro Alphonso, has sold his previous property holdings to Guyana Goldfields Inc. (GUY.TO), Sandspring Resources Ltd. (SSP.V) and Sacre-Coeur Minerals, Ltd. (SCM.V)

Gold-bearing gravel and alluvium is presently being exploited by artisanal miners at several locations, on GMV Minerals Inc. claims, yielding production of up to 75,000 ounces of gold per year.

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Guyana Goldfields to sell non-core assets

September 18, 2010 Leave a comment

AURORA (GUY/CAN) -Canada’s gold exploration company Guyana Goldfields Inc (GUY.TO) said it plans to sell non-core assets in order to focus on its key mines, the Aurora project and the Aranka properties in Guyana.

The company said it might sell collateral exploration properties, as well as stakes in junior mining companies.

The company, whose other main assets include the Peters Mine Property and the Langis Mine, has already initiated the sale of its 16 percent stake in Guyana Precious Metals Inc (GPM.V).

Guyana Goldfields did not specify in which other miners it had stakes in.

The company’s flagship Aurora property in northern Guyana is targeted to begin production in the second half of 2012.

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Nationwide acceptance of LCDS impresses forest evaluation experts

September 3, 2010 Leave a comment

GEORGETOWN -A delegation sent to conduct a real time evaluation of the Norwegian Global Initiative on Climate Change and Forestry in Guyana is impressed with the mass acceptance of Guyana’s Low Carbon Development Strategy (LCDS).

The team led by Pete Hardcastel a forester and consultant, met President Bharrat Jagdeo today at the Guyana International Conference Centre (GICC) after concluding a baseline assessment of their four-year assignment.

“One of the things that we found is that everybody that we have met, without exception, has been supportive of the Low Carbon Development Strategy,” Dr Hardcastle said.

Its wide-based concept, Dr Hardcastle said is enough conviction for the strategy to be genuinely and universal accepted as an initiative good for Guyana.

“We feel that’s a good starting point and its implementation is something that we should all need to learn about as things start moving forward,” Dr. Hardcastle.

He was accompanied in his visit to the President by Political Scientist Dr. Deborah Davenport and Forest Ecology Specialist, Dr. Phillipa Lincoln.

The visit to Guyana is one of a series of five national level assessments to determine Norway’s impact on climate change and forestry at the sub-national, national and global levels. The other countries include, Brazil, the Democratic Republic of Congo, Tanzania and Indonesia.

Norway has partnered with Guyana to achieve one of the first attempts between a developed and a developing country to work together to implement a national scale model on how forests can be deployed to address climate change without compromising sovereignty or national development priorities.

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Guyana to sell rice to Venezuela in $38M deal

August 28, 2010 Leave a comment

GEORGETOWN -The Caribbean region’s largest rice producer says it will start selling the grain to Venezuela.

Guyana expects to sell 70,000 tons (64,000 metric tons) of rice to its South American neighbor. The government has said the deal will help offset a $160 million debt it has accumulated for the 5,000 barrels of oil it receives daily under the PetroCaribe agreement.

Guyana’s Rice Producers Association leader says Venezuela will pay up to $700 per ton of rice. Dharamkuman Seeraj said Saturday that the deal accounts for up to 30 percent of the autumn rice crop.

Guyana exports about 70 percent of its rice, most of it to the European Union.

Guyana gets new Spanish Ambassador

August 24, 2010 Leave a comment

Spanish Ambassador to Guyana Joaquin with President Jagdeo (GINA PHOTO)

GEORGETOWN (GINA) -New Spanish Ambassador to Guyana Joaquin Maria de Aristequi has high hopes in developing Guyana’s energy sector through strengthened cooperation between Guyana and Spain.

Non-resident Ambassador Aristiqui presented his letters for Credence to President Bharrat Jagdeo at the Office of the President in the presence of Minister of Labour Manzoor Nadir serving as Foreign Affairs Minister and Director General in the Foreign Affairs Minister Elisabeth Harper.

Speaking to the media Ambassador Aristiqui said the energy sector is circuital to the future wellbeing and economic growth of Guyana. He made reference to REPSOL’s presence in Guyana as a good signal of economic opportunities.

REPSOL which holds the reputation as a leading international oil exploration is one of four companies that began exploration work in the offshore Guyana Basin in 2008.

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Guyana receives New Chinese ambassador

August 24, 2010 Leave a comment

GEORGETOWN -The more-than-30 years of friendly relations between Guyana and China have led to the fulfillment of major developments in the country’s capital and human resource capacity and new Chinese Ambassador to Guyana Yu Wenzhe promises to continue the cooperation trend between the two countries.

The Ambassador yesterday presented his letters of Credence to President Bharrat Jagdeo in the credentials room at the Office of the President, replacing his predecessor Zhang Jungao who served three and a half years in Guyana.

At yesterday’s accreditation ceremony were Minister of Labour Mazoor Nadir performing the duties of Foreign Affairs Minister and Director General in the Foreign Affairs Minister Elisabeth Harper.

The new ambassador told the media about some of his immediate priorities while serving in his capacity which would include efforts to enhance the political thrust and respect between the governments of the two countries as well as the “win-win” economic cooperation.

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