Your FREE copy to keep! - Issue 01
Going for Gold
2013 glitters!
The year it really
Enter tainment
Vibes
Publisher’s Note S
Dear Readers, eason’s Greetings to all! In light of the holiday spirit, I’d like to extend warm wishes for a blessed Christmas and a successful New Year. Guyana is known for its hospitality, especially during this time of the year. My wish this Christmas is for Guyanese to unite and work towards building a better and brighter future for our children. Having travelled extensively, I have been exposed to a wide range of magazines of international standards, mostly aiming at promoting and highlighting their respective countries. This was the motivating factor behind the concept of this magazine. My academic achievements (BA, MBA) along with over a decade of work experience in marketing and publishing, has equipped me to make this idea a reality. In taking on this challenge, I intend to publish a premier business magazine of international standard, aptly named Guyana Inc. Guyana Inc. will serve to promote Guyana and its businesses on an international and corporate level. The focus will not only be to help businesses grow, but also to highlight investment opportunities, give recognition to some of our prominent entrepreneurs and showcase our natural resources, products and local talents. We are happy to be releasing this first issue at a time when Guyana is surging ahead in economic development. In fact, Guyana is on course to record the highest economic growth this year in the Caribbean. In our first issue, we explore two of the most exciting growth sectors this year – gold and rice. In gold, we have not only sought to point out the gains, but also to explore the challenges and opportunities ahead, and give potential investors more than a tip or two about how to enter this lucrative business. We have also detailed how rice has surpassed ex-
Guyana Inc. - December 2013 - P. 6
pectations. In addition, this issue summarizes the life of Dr. Yesu Persaud, famously known as the “man with the golden touch.” Following editions will capture, in detail, his accomplishments. We also showcased the modern touch that United Centre has given to shopping and dining. Their innovative designs and concepts help to develop the changing landscape in Guyana. Special thanks to Fly Jamaica for adding us as one of their in-flight magazines and to Pegasus Hotel Guyana for making Guyana Inc. their in-room literature. A heartfelt thank you to our advertisers and our readers, for without you this venture would not have been possible. It gives me great pleasure to release the first FREE issue of Guyana Inc. and we look forward to your support in making it a success.
Teshawna Lall Founder and Publisher
Going for
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n Guyana mineral properties are managed and assessed by the scale of the operations. They fall into one of three distinct categories. 1. 2. 3.
Small scale: A land claim which covers an area of 1, 500 feet by 800 feet or a river claim which covers one mile of a navigable river Medium Scale: These are for prospecting and mining permits. These cover an area between 150 and 1200 acres each. Large Scale: Prospecting licences cover an area between 500 and 12,800 acres.
Gold Production Declared
Mining in Guyana is administered via the six established mining districts: 1. 2. 3. 4. 5. 6.
Berbice Mining District Potaro Mining District Mazaruni Mining District Cuyuni Mining District North West Mining District Rupununi Mining District
How to locate a claim A ny Guyanese can locate a claim once they are over 18 years old and of “sound mind.” A claim is approximately 800 feet by 1500 feet for land claims and one mile of river in the case of river claims. Before locating a claim you must purchase a prospecting permit (small scale) which is valid for one year. The prospecting permit costs G$500 (as of 2011) and can be purchased from the GGMC or any of its mines offices or officers. Once you have located a claim you must mark all four corners with claim boards which state: • • • •
The name of the claim holder The date of location The prospecting permit number The name of the creek, flat or hill where the claim is located.
Once this is done the GGMC must be informed within 60 days and a notice of location must be filled up and signed.
Application steps for a prospecting licence • Fill out the prescribed form5D • Pay application fee ($100US) • Submit a work programme and budget for the first year • Submit a map on Terra Survey 1:50,000 sheet • Submit cartographic description of the area • Submit proof of financial and technical capability • Submit a schedule of activities
Fiscal Regime for mining in Gold and Precious Metals, Diamonds and Precious Stones - Royalty: 5% of production or of gross revenues - Income Tax: 35% - Depreciation: 20% - Duty and Consumption Tax
Concessions: Zero rating of duties and consumption tax on all equipment, process materials and spares to be used during and in the course of surveys, prospecting and mining
Royalties and Taxes Collected by the
Guyana Gold Board 1998 - G$306 Million 1999 - G$346 Million 2000 - G$284 Million 2001 - G$271 Million 2002 - G$422 Million 2003 - G$478 Million
2004 - G$603 Million 2005 - G$997 Million 2006 - G$1.5 Billion 2007 - G$2.2 Billion 2008 - G$2.8 Billion
“Everything he has touched has turned gold,” our late President Dr. Cheddi Jagan once said of him. As you will see, Yesu has lived life true to his personal motto:
“To help those who cannot help themselves for as long as I can, wherever and however possible.”
Your Christmas Wish List
Season's Greetings
Before rice reaches your table
Land is prepared using tractors, which plough the land. Pre-germinated seeds are then sown by hand onto flooded fields. Once the fields are ready for harvesting, combine-harvesters roll in and the rice paddy is then transported in bags or in bulk to the mills. There are two crops in a year. The first begins between February and May and the second between September and December.
Rice Statistics: Production, Export Earnings
Source: Ministry of Agriculture
Investment
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nvestment deas
Rice Innovations
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n this section, we feature bright new business ideas that could make anyone thinking of an investment opportunity, really have something to think of. When you consider the tens of thousands of Guyanese families who eat rice on a daily basis, you can very well imagine the possibilities, whether buying for resale or introducing the technology used. Musenmai or Rinse-Free Rice Using an innovative process developed in Japan, California’s rice industry now offers rinse-free rice. It lets the busy homemaker ignore the step of washing rice before pouring it in the pot to boil. The innovators say the process maintains the genuine rice flavour, giving you the same end product. It might be less than a minute of work, but factor in taking out a bowl, rinsing, then washing the bowl, and you would see how this might make sense, even if you’re cutting out just a minute or two of your time. Haiga – White rice with the nutrients of brown rice California’s rice has answered the call of those who prefer white rice but with the nutrients of brown rice. The answer is called Haiga. The product keeps the rice germ, and so customers get the fibre they look for in brown rice. Instant Rice Well, it’s not really instant, but so called “Instant Rice” or “Minute Rice” reduces the time you take in the kitchen getting rice ready. It is a not so new product on markets in the US and other places. It takes about five minutes to cook, as opposed to the 30 minutes or so it takes to boil regular rice. It is pre-cooked then dehydrated and packaged for supermarket shelves.
Guyana Inc., December 2013 - P. 41
HONOURING CUFFY - 250 Years Later
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manager and carpenter. he 1763 slave They headed out to othrebellion bears the distinction er plantations, reaching as of being the far as the Corentyne Coast to bolster their troops. first mass rebellion in the West Indies Cuffy stepped up to the plate, so to speak, and ralagainst oppression and lied the rebelling troops. domination by European powers. The Governor sent in The man behind the the militia to back up the planters across the region; incident 250 years ago is the only problem was that Cuffy – hailed a hero with of the 346 Whites, includa giant monument in the ing the planters, there were city commemorating his over 3,800 angry slaves to extraordinary prowess. contend with. He set foot on these The slaves marched shores when just an Akan through plantation aflad – sold from his native ter plantation, burning country Ghana in West houses and killing some Africa. of the White men and The first place he called women. Plantations that home was a plantation came under their attack called Lilienburg, in the were Juliana, Mon Repos, Canje River. He worked as Essendam, Lilienburg, a house slave for a barrel Bearestyn, Elizabeth and maker, a skill he developed. Alexandria, Hollandia, The rebellion occurred and Zeelandia. as a result of the harsh It seems the goal of treatment meted out to the slaves was to take the slaves – the plantadown the Dutch admintion owners wanted all they istration at the capital could get out of them, punished them severely when of Fort Nassau, ruins of they did not, and did litwhich lie 56 miles up the tle to improve their pitiful Berbice River. One of the most frightstandard of living. ening confrontations ocSome fought against the curred at Plantation system by running away into Cuffy is commemorated by this monument, the forest; those caught were Peerboom, five miles from unveiled in 1976, at the Square of the put to death in the most cruthe capital. Some of the Revolution in Georgetown. It was designed Whites fled to safety in an el of forms. Some of those who by late Guyanese sculptor Phillip Moore. old break house, but the escaped ended up in neigh(Photo by Amanda Wilson/Green Mango Media) slaves got word of it and bouring Suriname and joined commenced an attack, the Bush Negro. the February 1763 plan which gave Just over 30 slaves engineered a Cuffy hero status. first hurling balls of burning cotton rebellion in 1762, but the Dutch miTensions first flared at onto the roof. Robust negotiations between litia under orders of Governor Van Plantation Magdalenenburg, up Hoogenheim was able to quell the the Canje River. Slaves who found the slaves and the manager of uprising; some of the slaves were conditions unbearable set fire to Plantation Bearestyn allowed the killed while some others escaped. the house of the owner, Madam Whites to leave the building and The plantation system became Vernesobre, and slaughtered the head to boats anchored nearby. even grimmer and then entered
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ining is a key contributor to economic growth and improved material quality of life. Mining’s long time horizon, its need for both skilled and unskilled labour, its links to regional infrastructure and service development as well as the importance of the products that it produces, means that it can make a unique and powerful contribution to sustainable development.
“Every song I sing is something about Guyana”