Business

Guyana’s two percent royalty on earnings from ExxonMobil’s oil sales is low compared to global standards, raising concerns about whether there was transparency about the negotiating system,  Dr. Jan Mangal, Petroleum Advisor to President David Granger said Wednesday. “What we can do is look at what are the international norms. Royalty, when you look around, is more between ten and ...

Police have taken into custody a man who was allegedly involved in an early Wednesday morning robbery at Angoy’s Avenue, New Amsterdam, Berbice. Grocer, Kamalodeen “Tarzan” Mohabir of Angoy’s Avenue said he was at home with his: wife, son and two grandchildren ages 6 and 14,  when they were attacked at about 2 AM by armed and masked bandits. The ...

Agents of the Customs Anti-Narcotics Unit (CANU) Tuesday evening arrested seven persons after a quantity of cocaine concealed in a shipment of fish was intercepted at the Cheddi Jagan International Airport. CANU said the frozen fish was bound for the United States (US). The anti-drug unit of the Ministry of Public Security said the shipping company currently being investigated allegedly is ...

The Guyana Gold and Diamond Miners Association (GGDMA) on Tuesday called on the Guyana Geology and Mines Commission to fast-track the change-over of lands from prospecting licence to medium scale mining permits and to cease attaching any conditions for the process. “The GGDMA categorically rejects the ongoing, inordinate delays in processing of the requested applications. We reiterate that the GGMC has ...

A Region Four (Demerara-Mahaica) Engineer has been chopped by a contractor during an altercation over the non-payment for works, the Guyana Police Force said. Injured is 67-year old Amainauth Chinkan of Side Line Dam, Triumph, East Coast Demerara. The incident occurred last week at about 10 PM Friday, February 3, 2018, at Enterprise Village, East Coast Demerara. Police said they ...

A major Canadian gold mining company on Sunday said it would be willing to submit information to the International Court of Justice (ICJ), as evidence that Venezuela had objected to the establishment of a huge gold mine in the Essequibo region that is the subject of the territorial claim with Guyana. President and Chief Executive Officer of Guyana Goldfields, Scott ...

The French oil company, Total, has signed agreements to acquire interests into two exploration licenses offshore Guyana, the Canje Block and the Kanuku Block. These agreements come after entering into an option agreement for the nearby Orinduik Block. Subject to the approval of relevant authorities, Total will thus own exploration rights to an area covering over 12 000 km2 in the ...

Guyana Goldfields/ Aurora Gold Mines (AGM) intends to invest US$120 million in conducting underground gold mining for the first time in Guyana’s history, company officials announced Sunday. AGM’s President and Chief Executive Officer, Scott Caldwell said “we want to become the premier underground gold miner in Guyana and South America” in another four years. In addition to four studies, valued ...

A newly-established Guyana-headquartered offshore medical school, Lincoln American University, says it is about to apply for Caribbean accreditation even as it rolls out a plan to establish similar institutions across the region. Advisor to Lincoln American University, Dr. Emmanuel Cummings said already the institution located at Water and Barrack Streets has been registered with Guyana’s National Accreditation Council (NAC), paving ...

The wealthy German industrial conglomerate Siemens is pushing for a stake in  modernising  Guyana’s public health sector, the Ministry of Public Health announced Friday. The three-person delegation, which met recently with Public Health Minister Volda Lawrence and a high-level team with the former rolling out its tentative plans which they felt can help accelerate modernisation plans for the country’s public ...