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🇹🇹 Trinidad and Tobago /Energy & Infrastructure

Officials warn against unauthorized sales of Guyana mining land

From Trinidad Express · () English

Translated from English and summarized by DistantNews. Read the original for the full story.

At a glance

Press release Official statement New plan
  • The Guyana Geology and Mines Commission urged mining tenure holders not to sell or transfer mining lands outside the legal and regulatory framework.
  • The commission said irrevocable powers of attorney, private agreements and receipts do not by themselves establish ownership or lawful tenure.
  • It encouraged properly documented joint ventures and warned that it may take regulatory action against irregular transactions.

Guyana’s Geology and Mines Commission is warning stakeholders against selling, or claiming to sell, mining lands granted for mining activities.

The commission said mining lands and related rights are granted to individuals and entities for the specific purposes described in their applications and under applicable laws, regulations and conditions. Tenure holders should not sell, assign or purport to transfer those rights when the law does not authorize such transactions.

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

· Guyana Geology and Mines CommissionThe commission explained the restricted purpose and legal basis of mining land grants.

The GGMC also discouraged the use of irrevocable powers of attorney to facilitate the purported sale, transfer or acquisition of mining properties. Such a document does not by itself prove ownership or lawful tenure, the commission said. It urged people to exercise caution before entering arrangements based on those instruments.

An IPOA in itself is not acceptable proof of ownership or lawful tenure of mining property

· Guyana Geology and Mines CommissionThe commission warned that irrevocable powers of attorney do not establish ownership.

The commission said legitimate opportunities exist for investors, miners and other stakeholders to cooperate in developing mining properties. It encouraged parties to consider joint ventures and other lawful mechanisms, provided those arrangements are properly structured, documented and submitted for review and approval.

Anyone considering a transaction involving mining land should seek clarification from the commission before signing an agreement or committing money. The GGMC said buyers should not rely solely on private contracts, powers of attorney, receipts or similar documents as evidence that someone has the legal right to dispose of a property. It said it would continue monitoring the issue and take regulatory or other appropriate action to protect the integrity of Guyana’s mining sector and prevent unauthorized transactions.

The commission remains committed to ensuring that mining lands are utilised 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

· Guyana Geology and Mines CommissionThe commission described its regulatory objectives.
About this summary

Originally published by Trinidad Express in English. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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