The Guyana Geology and Mining Commission said mining lands granted for mining purposes should not be sold or purportedly sold and that an Irrevocable Power of Attorney is not acceptable proof of ownership.
The Commission said the practice of selling or purporting to sell mining lands granted by the Commission is engaging its attention. It added that mining lands and related tenures are granted for the specific purpose of undertaking mining activities as represented in the application process and according to applicable laws and regulations.
The Commission said an Irrevocable Power of Attorney is not acceptable proof of ownership or lawful tenure of mining property. It advised persons not to rely solely on private agreements, powers of attorney, receipts or other instruments as evidence of legal right to sell, transfer or dispose of a mining property.
The Commission said it will continue to monitor the matter and take regulatory and other appropriate action as necessary to safeguard mining sector integrity and protect persons from unauthorized transactions involving mining lands. It also stated it is discouraging the use of Irrevocable Powers of Attorney as a means of effecting or facilitating the purported sale, transfer or acquisition of mining lands.
The Commission said there are legitimate opportunities for investors, miners and other stakeholders to collaborate in the development of mining properties.
