The New CIRDI Project Aims to Overcome Financial Barriers to the Adoption of Mercury-Free Technologies in Guyana’s ASM Sector

The Canadian International Resources and Development Institute (CIRDI) has been chosen to design new financing options for ASM communities in Guyana. The project, in partnership with Conservation International (CI), aims to overcome financial barriers to the adoption of mercury-free technology by ASM miners.

The Global Environment Facility (GEF)-funded project will address the UN Sustainable Development Goal 12 by supporting sustainable consumption and production patterns in the ASM gold-mining sector in Guyana. This will be achieved by co-designing a national financing mechanism for capital investment to support the elimination of mercury use among Guyanese artisanal and small-scale miners.

Specifically, this project will draw on CIRDI’s in-house methodological tools to develop a bespoke ASM financing model suited to Guyana’s unique and vibrant ASM gold sector. In alignment with the Minamata Convention, the financing mechanism will enable capital investments in mercury-free technology for ASM thereby delivering health benefits for local communities and improving the environmental performance of the sector.

In Guyana’s unique context, ASM is formalized, regulated and prolific – small-scale gold mining accounts for almost two-thirds of foreign exchange earnings. However, lack of access to finance, technology and formal training in mercury-free mining have presented challenges to the elimination of mercury use in the sector.

The project is slated for roll out in the summer of 2020. For project updates, follow CIRDI on Twitter, Facebook or LinkedIn.

 

Read more:

Design of Mechanisms for Financing Capital Investments for Mercury-Free Technologies

Access to Finance for Artisanal and Small-Scale Miners: Imagining Alternatives and Creating Opportunities