The Guyana Geology and Mines Commission (GGMC) says it is concerned at the practice of stakeholders selling or purporting to sell mining lands granted by the Commission.
‘Mining lands and related tenures are granted to individuals and entities for the specific purpose of undertaking mining activities as represented in the application process, and in accordance with the applicable laws, regulations, terms and conditions governing the grant of such tenure. ‘Tenure holders are therefore advised against the sale, assignment, or purported transfer of mining lands in circumstances where such transactions are not authorized under the applicable legal and regulatory framework,’ the GGMC said in a statement.
The GGMC said it is also discouraging the use of Irrevocable Powers of Attorney (IPOAs) as a means of effecting or facilitating the purported sale, transfer, or acquisition of mining lands, noting that an IPOA in itself, is not acceptable proof of ownership or lawful tenure of mining property.
‘Persons are therefore urged to exercise caution when entering into arrangements involving mining lands on the basis of such instruments,’ the GGMC said, noting that it recognises, however, that there are legitimate opportunities for investors, miners, and other stakeholders to collaborate in the development of mining properties.
‘In this regard, persons who wish to develop or participate in the development of mining properties are encouraged to explore legitimate Joint Venture arrangements and other lawful mechanisms through which parties can collaborate in mining operations and achieve beneficial occupation and productive use of the property.’
The GGMC said that such arrangements should be properly structured, documented, and submitted to the Commission for consideration and approval, while urging all persons contemplating transactions involving mining lands to seek clarification from the Commission before entering into any agreement or making financial commitments.
‘Persons should not rely solely on private agreements, powers of attorney, receipts, or other instruments as evidence that an individual has the legal right to sell, transfer, or otherwise dispose of a mining property.
‘The Commission remains committed to ensuring that mining lands are utilized in accordance with their intended purpose, that the integrity of the mining tenure system is maintained, and that Guyana’s mineral resources are developed in a transparent, responsible, and sustainable manner.’
The GGMC said it will continue to monitor this matter and will take ‘such regulatory and other appropriate action as may be necessary to safeguard the integrity of the mining sector and protect persons from entering into unauthorized or irregular transactions involving mining lands.
‘The GGMC therefore reiterates its advisory to all tenure holders: mining lands granted for mining purposes should not be sold or purportedly sold, and Irrevocable Powers of Attorney should not be treated as proof of ownership or lawful tenure.’