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Gold production increases by 104 percent in four months – Finance Minister

…but other revenue earners experience decline

Minister of finance, Winston Jordan

Minister of finance, Winston Jordan

As the Ministry of Finance gears to finish the Half Year Report, statistics thus far indicate that the economy is performing creditably.

According to Finance Minister, Winston Jordan, economic growth is being spurred by the mining and construction sectors with spill off effects into the services sector.

He said that the main driver of economic growth in the mining sector is gold, with production for small and medium size miners as well as Guyana Gold Fields and Troy Resources continuing to increase.

The Finance Minister said that gold production for April totaled 60,558.8 ounces compared to 36,629.1 ounces achieved in April, last year.

The economist said that this brings gold production to 222,500 ounces for January to April, 2016, representing an increase of 104.8 percent over the production achieved during the same period last year.

He said that the primary reason for this is increased production by small and medium size miners as well as the two expatriate companies.

The Finance Minister also spoke on the performance of some of the nation’s other revenue earners.

With regard to sugar production for April, Jordan said that this was recorded at 16,873 tonnes compared to 26,826 tonnes during April 2015. He said that production for January to April, last totaled 55,687 tonnes compared to 67,555 tonnes achieved during the same period in 2015. This represents a reduction of 17.6 percent.

The Finance Minister said that the fall in production for the first crop resulted principally from the El Nino phenomenon which reduced the sucrose content of the sugar cane. In spite of this setback, Jordan said that GuySuCo is still projecting to meet its overall target of 242,287 tonnes.

Taking his attention to rice production for April, the economist said that this reached 148,615 tonnes, a decline of 30.2 percent when compared to the production achieved in April 2015.

The Finance Minister said that this brings rice production from January to April, 2016 to 205,208 tonnes compared to 303,314 tonnes produced during the same period in 2015. He said that the fall in production for the first crop in 2016 was attributed to the El Nino phenomenon combined with continued uncertainty about new markets. Jordan said that the large shortfall in the first crop is expected to be recouped in the second crop in order to reach the production target for 2016 of 630,028 tonnes.

Forestry production was also another area which showed a decline. Jordan said that for April, production amounted to 27,253.4 cubic metres compared to 37,548 cubic metres for the same period last year.

He said that lower production levels in 2016 continue to result from restrictions on the export of timber as the government aims to promote more value added products within the sector.

Jordan said that total production from January to April this year currently stands at 106,639.3 cubic metres compared to 135,935.2 cubic metres produced during the same period in 2015.

Speaking to bauxite production for April, last, the Finance Minister said that this was 135,431 tonnes compared to 151,838 in April, 2015. This brings bauxite production from January to April this year to 580,366 tonnes compared to 529,100 tonnes during the same period in 2015.

Jordan said that increased production for 2016 is mainly attributed to improved efficiency and productivity within the industry despite low prices.

He said that the bauxite industry has also surpassed expectations in 2016, changing the outlook for this industry from zero growth towards a positive growth rate.

Replies sorted oldest to newest

the goldl initiatives were put in place by the ppp. This govt is yet to come up with 1 original idea. Unless bacchanal counts.

sugar and rice now belongs to the pnc, 1 year later and both indusries in the toilet

FM
Last edited by Former Member

The decline in rice is a doing of the PNC.  And you are correct, those Gold exploration contracts were started by the PPP, so is the much touted oil finds. PNC just running with the baton handed them by the PPP.  We still yet have to see an original PNC plan for anything of substance!

FM
ba$eman posted:

The decline in rice is a doing of the PNC.  And you are correct, those Gold exploration contracts were started by the PPP, so is the much touted oil finds. PNC just running with the baton handed them by the PPP.  We still yet have to see an original PNC plan for anything of substance!

Suh what happen to the drought caused by EL Nino.

The decline in rice production was caused by drought and future markets.

Django
Drugb posted:

.

sugar and rice now belongs to the pnc, 1 year later and both indusries in the toilet

The condition of the sugar and rice industry is due to the PPP.

As to gold.  Guyana has gold, and foreigners come in. Would happen under any government. End of story.  You could even credit Hoyte for that as apparently you forgot OMAI.

Why don't you look at the mess that the PPP made.  Encouraged the rice farmers to grow rice, and then couldn't find markets. Destroyed Guysuco.

FM
ba$eman posted:

The decline in rice is a doing of the PNC.  

I guess the PNC caused El Nino.

Listen rice production grew under the PPP which couldn't find markets.  Maybe its best that production be brought more in line with demand, until the rice industry figures out how to be competitive.

FM

BTW druggie and baseman, Venezuelans are literally killing each other in food lines and no foreign supplier wants to sell food to them.  A man shot in the line and no one helps him because they are afraid that they would lose their space.

Yes this is the country that you thought that Guyana should be selling rice to!

Maduro's Venezuela is a good deal worse than Burnham's Guyana. Guyanese weren't killing each other over food!

FM
caribny posted:
Drugb posted:

.

sugar and rice now belongs to the pnc, 1 year later and both indusries in the toilet

The condition of the sugar and rice industry is due to the PPP.

As to gold.  Guyana has gold, and foreigners come in. Would happen under any government. End of story.  You could even credit Hoyte for that as apparently you forgot OMAI.

Why don't you look at the mess that the PPP made.  Encouraged the rice farmers to grow rice, and then couldn't find markets. Destroyed Guysuco.

1 year later and you still blaming the ppp for your hero Granger incompetence. These idiots claimed they knew how to fix the industries, but the Guyanese public are still waiting.

It is not only the foreigners responsible for Gold production. The ppp left in place a robust gold producing industry. It is time you ketch some sense and stop excusing the PNC failures.

FM
caribny posted:

BTW druggie and baseman, Venezuelans are literally killing each other in food lines and no foreign supplier wants to sell food to them.  A man shot in the line and no one helps him because they are afraid that they would lose their space.

Yes this is the country that you thought that Guyana should be selling rice to!

Maduro's Venezuela is a good deal worse than Burnham's Guyana. Guyanese weren't killing each other over food!

The rice would have been exchanged for oil and those people wouldnot be killing each other is Granger didnot make an ass of himself at the UN and insulted Maduro.

FM
Drugb posted:
.

1 year later and you still blaming the ppp .

.

A day or two after the election results were announced Guysuco ran to the new gov't wailing that they couldn't meet payroll and planned to lay off every one except their security.

Now whose fault is that?   The APNU/AFC?

So cease with your trash that all the problems of sugar and rice is due to the new gov't.  

In fact BEFORE the election rice farmers protested and the PPP attacked them, and stripped a few naked.  They are only alive today as they aren't black, otherwise it would have been gunshots on their tail.

FM
Drugb posted:
.

The rice would have been exchanged for oil .

In your dreams.  Venezuela needs US dollars, so why you think that they would waste valuable oil to barter for Guyana rice.  They can barter with Uruguay to supply rice and yet they don't.

FM
caribny posted:
Drugb posted:
.

1 year later and you still blaming the ppp .

.

A day or two after the election results were announced Guysuco ran to the new gov't wailing that they couldn't meet payroll and planned to lay off every one except their security.

Now whose fault is that?   The APNU/AFC?

So cease with your trash that all the problems of sugar and rice is due to the new gov't.  

In fact BEFORE the election rice farmers protested and the PPP attacked them, and stripped a few naked.  They are only alive today as they aren't black, otherwise it would have been gunshots on their tail.

The pnc had the solution during campaigning. They were left with billions of surplus in the treasury which they sport out on raises and bacchanal for their supporters. Regardless, they are now in charge, no more excuses are needed but rather solutions. So far we have not heard any solutions for the sugar and rice woes. Granger promised to close down Guysuco while in opposition, now he backtrack and continues on with the PPP policy of dragging out a failing industry with tax payers subsidies. 

FM
caribny posted:
Drugb posted:
.

The rice would have been exchanged for oil .

In your dreams.  Venezuela needs US dollars, so why you think that they would waste valuable oil to barter for Guyana rice.  They can barter with Uruguay to supply rice and yet they don't.

Nonsense, they appear to be more in need of food than dollars. Why else people are in lines? They can't eat us dollars.

FM
Drugb posted:
caribny posted:

BTW druggie and baseman, Venezuelans are literally killing each other in food lines and no foreign supplier wants to sell food to them.  A man shot in the line and no one helps him because they are afraid that they would lose their space.

Yes this is the country that you thought that Guyana should be selling rice to!

Maduro's Venezuela is a good deal worse than Burnham's Guyana. Guyanese weren't killing each other over food!

The rice would have been exchanged for oil and those people wouldnot be killing each other isGranger didnot make an ass of himself at the UN and insulted Maduro.

You are a sell out supporting Muduro who issue a decree to claim Guyana's territory,it appears you are the ass.

Django
Last edited by Django
Django posted:
Drugb posted:
caribny posted:

BTW druggie and baseman, Venezuelans are literally killing each other in food lines and no foreign supplier wants to sell food to them.  A man shot in the line and no one helps him because they are afraid that they would lose their space.

Yes this is the country that you thought that Guyana should be selling rice to!

Maduro's Venezuela is a good deal worse than Burnham's Guyana. Guyanese weren't killing each other over food!

The rice would have been exchanged for oil and those people wouldnot be killing each other isGranger didnot make an ass of himself at the UN and insulted Maduro.

You are a sell out supporting Muduro who issue a decree to claim Guyana's territory,it appears you are the ass.

Tell that to the rice farmers who are now suffering. You overseas supporters of the axis of evil (pnc/afc) sit back in your perch of luxury overseas and don't empathize with the common guyanese who are now suffering.

FM
Drugb posted:
..

The pnc had the solution during campaigning. They were left with billions of .

The IMF reported that this government reduced the public sector deficits and has managed public finance prudently, so cease your PPP prattle. 

I will suggest to you that the IMF are objective and don't care one fig about our Indo vs. Afro tribal war.

Granger wants to close down one failing estate and you all want to go into melt down screaming Indian Holocaust and wailing "black man a starve ahbe", this led by your hero Jagdeo.  If he shuts down Guysuco you all will go screaming to the UN that blacks want to kill Indians, and that Obama should invade.

Jagdeo destroyed Guysuco. This has put this government in a quandary as they cannot keep it as is, but they cannot close it down for political reasons. At this point no one will buy it, except for real estate purposes. 

Jagdeo could have sold it at one point to Brazilians, but that ship has sailed.  He didn't because thousands of PPP supporters would have lost their livelihoods.

To his credit Granger has more empathy for PPP supporters than Jagdeo had for Linden. When thousands in Linden lost their jobs Jagdeo had an orgasm, as black suffering is what he enjoys.

FM
Drugb posted:
.

Nonsense, they appear to be more in need of food than dollars. Why else people are in lines? They can't eat us dollars.

And why don't they have food.  Because Venezuela doesn't have food and no one wants to supply them with food because they aren't paid. 

They also owe airlines $2 billion (Caribbean Airlines is owed $50k), and no doubt owe many other overseas companies.

So cease with your prattle that they don't have food but have dollars. Even the Chinese are putting the squeeze on them, demanding that Venezuela services what they owe them.

Two of the world's largest food suppliers, the USA, and Brazil, are close to Venezuela.  They don't supply that sad nation because they will not be paid as Venezuela cannot pay them.

Venezuela has a budget that requires oil at $100. Oil is now 50% of that.  Fill in the blanks.  THEY BROKE!

 

FM
Drugb posted:
.

Tell that to the rice farmers who are now suffering. ..

Yes I hear the screams.  Granger allows Guyana rice to be sold to Venezuela. Venezuela doesn't pay as they need every drop of oil to be sold for HARD CASH to pay for imports from suppliers who do NOT provide credit.

Guyana rice farmers aren't paid. Screams. "Black man a kill ahbe. Ahbe coolie wuk hard and dem black nah wan fuh pay ahbe".   They would never blame MadBURRO because Jagdeo will be looking for any excuse to start a racial war.

FM

Sorry, people want to hear solutions, not excuses and pointing the finger backwards. IMF was also including progress made under the pPP in their report as it takes a couple of years to compile.

FM
Drugb posted:

 IMF was also including progress made under the pPP in their report as it takes a couple of years to compile.

The IMF made a specific comparison of this new gov't with the prior one.

They made a liar of you when you peddle your racist notion of the spendthrift black.  If APNU has a problem it isn't running up budget deficits, which in fact have declined.

Yes they do display no ideas of their own, other than a dream of Exxon, but then that doesn't excuse the PPP whose only ideas were about corruption.

Guyana remained the poorest country in the English speaking Caribbean after 23 years of PPP rule.  As a result Guyanese had to flee to live in Saba, Nevis and other obscure islands. When you concede that then you have a right to critiize the current government.

FM
Last edited by Former Member

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