Gold likely to surpass production target
Gold declaration is 94% more than it was at this time last year and remains on track to surpass the 555,000 ounces projected target.
According to Minister of Natural Resources, Raphael Trotman, gold declarations for the first quarter of the year stood at 161,942 ounces. Declaration could reach 600,000 ounces for 2016.
Trotman also revealed that the sector has been making positive developments in reducing instances of gold smuggling which would be made public later this year.
In addition, the sector has been making strides in eliminating the use of Mercury in gold mining. “There is some resistance but, at the same time I would say that a majority of miners are willing to comply,” Trotman said.
The elimination of Mercury from mining is part of modernising the technologies used in the extractive sector. The Government has been working on an action plan aimed at minimising and eventually eliminating the use of Mercury in mining.
Meanwhile, for other minerals, the minister said bauxite continues to improve in production when compared to last year. However, the mining of stones has been problematic. Trotman said he will be making a statement on this next week.