GEORGETOWN, Guyana (GINA) -- Head of State Bharrat Jagdeo has dispelled reports by large mining companies that his administration has intentions to close the mining sector in Guyana.

Jagdeo, who was addressing media operatives at a press briefing at the Office of the President said on Wednesday, his administration will not be making such a move but instead would be moving the sector forward. "At the launch of the Low Carbon Development Strategy I made it clear that mining will continue in Guyana and government has no interest whatsoever in closing the mining sector. Mining will continue to contribute to our gross domestic product as well as our revenue base," the Head of State reassured.

He said that his administration is prepared to work with the sector and that rumours being reported about the closure of the sector should be ignored. "I am making it clear that we are moving forward. We will work in collaboration with the mining sector and the serious people in the sector but if they think that by funding small protest action that is going to deter us from this action they are wrong," he asserted.

The Head of State noted that there would be some changes that would allow the country to maintain its forest and earn more while allowing miners to make a decent, healthy and profitable living. "We have to do this together but if we can't do it together then we have to go forward with this matter alone," he said. The president said that it was made clear before the launch of the LCDS that changes would be made, adding that many persons are of the view that the changes which are required to be made are being induced by the LCDS.

He noted that areas were discussed several years ago prior to the creation of the LCDS. These, he noted, include a Memorandum of Understanding with persons who hold forest lease and those who have lease for above surface bio-mass and sub-surface rights, restoration of landscape after mining is completed to ensure no gaping wounds in the forest. Jagdeo said these were some of the issues discussed which are in no way out of line with international practices but would ensure that mining remains an activity for hundreds of years to come. He cited that recently the price of gold has risen and that some persons are of the opinion that the mineral wealth belongs to them, individually. The wealth, he said, does not belong to them but the country and its people.

"I gathered simply they (large miners) have been raising funds, they have raised $30M to get the smaller miners to protest because there is a lot of misinformation they are telling them that government wants to stop mining to regulate them out of mining because they don't want to comply with some of these areas...I have met with them at least the miners who have declared more than 60 percent of their gold and I said to them we will work with you in a collaborative fashion set up a committee chaired by Minister of Hydraulics Robeson Benn," Jagdeo stated.