Miners should take full advantage of all incentives in Budget 2026 – GGDMA

The Guyana Gold and Diamond Miners Association (GGDMA) welcomes the 2026 National Budget presented by the Honourable Dr. Ashni Singh, Senior Minister in the Office of the President with responsibility for Finance. The Association applauds the Government of Guyana for its continued commitment to the mining sector, particularly through measures aimed at lowering operating costs, encouraging production, and advancing the modernization of the industry.

The GGDMA notes the strong performance and resilience of the mining sector in 2025, during which gold production grew by an estimated 11.6 percent, with total declarations reaching 484,321 ounces. While the majority of this growth was driven largely by a 15.5 percent increase in declarations from large-scale operators, there was a significant 45.6 percent rise in declarations to the Guyana Gold Board. The Association also recognizes that improved declarations have been supported by strengthened compliance and enforcement, helping to ensure the sector maintains its position as a major contributor to national development.

The GGDMA is pleased with several measures announced in Budget 2026 that will bring direct benefits to miners across the country:

• Removal of Duties and Taxes on ATVs: The elimination of all import duties and taxes on All-Terrain Vehicles for all categories will ease transportation challenges and reduce costs for miners operating in difficult terrain.
• Tax Relief on Outboard Engines: The removal of taxes and duties on outboard engines up to 150 horsepower will lower the cost of river transport, which remains essential to many mining operations.
• Reduction in Taxes on Double-Cab Pickups: The GGDMA welcomes the introduction of a simplified flat tax regime for the importation of double-cab pickups. Under the new measure, pickups with engine capacity below 2,000 cc will attract a flat tax of $2 million, while pickups between 2,000 cc and 2,500 cc will be subject to a flat tax of $3 million, regardless of vehicle age. This reform brings much-needed clarity and predictability to vehicle importation costs and will significantly benefit miners who rely on double-cab pickups as essential work vehicles for transporting personnel, tools, and supplies in challenging hinterland conditions.
• Fuel and Cost-of-Living Support: The decision to maintain a zero percent excise tax on petroleum products is especially important, as fuel remains one of the largest operating expenses in the sector.
• Investment in Hinterland Infrastructure: The allocation of $10 billion to begin works on hinterland roads in areas such as Achiwib, Kaburi, and Karisparu is welcomed. Improved road access is critical for safer, more efficient movement of equipment, supplies, and personnel.
• Hinterland Airstrip Upgrades: The GGDMA also welcomes the Government’s continued investment in the maintenance and expansion of hinterland airstrips. The development of the Aishalton, Kaieteur, Karisparu, Kwakwani, and Paramakatoi airstrips and advancing of works at Ekereku Bottom, Jawalla, Kaikan, and Matthew’s Ridge are a benefit to both miners and hinterland communities. The GGDMA has also noted that for 2026, a further $4 billion have been identified been allocated to complete airstrip projects and begin upgrades at additional locations, including Mahdia and Linden.

The GGDMA wishes to restate its support for the Government’s ongoing efforts to formalize the gold sector and improve traceability. Measures such as mandatory local bank accounts and updated personal records for miners, along with the recently launched high-tech mineral mapping initiative, represent important steps toward a more transparent, efficient, and modern industry.

With gold declarations projected to reach 510,450 ounces in 2026, the GGDMA encourages miners to take full advantage of the incentives provided in this year’s budget. The anticipated 5.4 percent expansion of the gold mining subsector is achievable through continued cooperation, improved compliance, and collective efforts to reduce leakages.

The GGDMA remains committed to working closely with the Ministry of Natural Resources and the Guyana Geology and Mines Commission to ensure that the measures outlined in Budget 2026 deliver real, lasting benefits for the mining sector and for Guyana as a whole.