Guyana proposes national mining consortium to expand local ownership and investment
Key Points(5)
- The Government of Guyana is moving to establish a national mining consortium aimed at increasing local ownership in the country’s mineral sector and broadening opportunities for citizens to participate in large-scale mining ventures.
- President Irfaan Ali announced the proposal during the commissioning of a new Citizens Bank branch in Bartica, outlining plans for a locally owned company that would bring together small, medium and large-scale miners, alongside members of the public, into a unified investment structure.
- Under the proposed model, participants would collectively hold stakes in a national mining company designed to operate competitively at an international level, while ensuring greater retention of mineral wealth within Guyana.
- President Ali said the initiative is part of a wider strategy to deepen financial inclusion and expand access to wealth-building opportunities across key sectors of the economy.
- He noted that the proposal aligns with broader reforms being considered, including the establishment of a junior stock exchange, a Guyana Development Bank, and new investment channels tied to agriculture, infrastructure and industrial development.
The Government of Guyana is moving to establish a national mining consortium aimed at increasing local ownership in the country’s mineral sector and broadening opportunities for citizens to participate in large-scale mining ventures.
President Irfaan Ali announced the proposal during the commissioning of a new Citizens Bank branch in Bartica, outlining plans for a locally owned company that would bring together small, medium and large-scale miners, alongside members of the public, into a unified investment structure.
Under the proposed model, participants would collectively hold stakes in a national mining company designed to operate competitively at an international level, while ensuring greater retention of mineral wealth within Guyana.
President Ali said the initiative is part of a wider strategy to deepen financial inclusion and expand access to wealth-building opportunities across key sectors of the economy.
He noted that the proposal aligns with broader reforms being considered, including the establishment of a junior stock exchange, a Guyana Development Bank, and new investment channels tied to agriculture, infrastructure and industrial development. He also highlighted ongoing discussions with Citizens Bank on setting up a Development Bank desk and an electronic identification support service for residents in Region Seven.
According to the president, the long-term goal is to shift more economic participation into the hands of ordinary citizens, allowing families to become shareholders in sectors that have traditionally been dominated by larger investors.
He added that financial inclusion must extend beyond basic banking access to include meaningful pathways for investment and wealth creation at the community level.
