Ronaldo Alphonso, a veteran gold miner and President of the Guyana Gold and Diamond Miners Association, has announced his endorsement of President. Dr Irfaan Ali for a second term, citing the administration’s track record in supporting the mining sector over the past five years.
Alphonso, who has worked in the industry for more than two decades, pointed to a range of fiscal and operational reforms that he said have benefitted miners across the country. These include tax and VAT relief, the elimination of the excise tax on fuel, and streamlined requirements for transporting fuel and operating mining equipment.
According to the association, miners have seen the complete removal of VAT and taxes on all-terrain vehicles (ATVs), machinery, equipment, and lubricating oils, as well as the abolition of VAT on hinterland travel.
Other changes include the removal of the police clearance requirement for fuel transport and the scrapping of the mandate to register and license mining equipment.
Financially, the sector has also gained from a reduction in the final tax from a maximum of 3.5 per cent to a flat 2.5 per cent, and the removal of the 10 per cent tributors tax.
A key development cited was the establishment of an Investment Development Agreement (IDA) that allows tax-compliant miners producing over 200 ounces of gold annually to import duty-free vehicles, including double cab pickups, along with other spares and equipment.
While acknowledging that challenges remain, Alphonso said the collaborative approach taken by the administration has instilled confidence in the sector. He said the ongoing partnership between the government and the mining industry has been critical to sustaining growth and investment.
