-says regulatory capacity lacking
APNU Member of Parliament and Natural Resources spokesman Sharma Solomon is calling for greater scrutiny of uranium exploration activities in Guyana, arguing that the country has yet to demonstrate the regulatory capacity, institutional strength and transparency needed to oversee the sector.
In a statement yesterday, Solomon said recent disclosures surrounding uranium exploration by Canadian company U92 Energy Corp have raised fundamental questions about Guyana’s preparedness to manage a resource that is subject to stringent environmental, health and security controls worldwide.
“The central question is not whether uranium exists beneath our soil,” Solomon said. “The central question is whether Guyana possesses the institutional strength, regulatory competence and national preparedness required to manage such a resource responsibly,” the APNU spokesperson on natural resource said.
The issue has gained attention following revelations that U92 is advancing exploration plans at the Kurupung Project in Region Seven and has acquired historical exploration data associated with the property. The company has publicly announced plans to update mineral resource estimates and commence drilling programmes.
The development has also prompted questions about how the project was approved and whether the public was adequately informed.
In an editorial yesterday, Kiskadee Watch questioned how permission had been granted for uranium exploration and noted the apparent absence of public announcements from the Ministry of Natural Resources, the Guyana Geology and Mines Commission (GGMC) or the Environmental Protection Agency (EPA) regarding the project.
The online newspaper argued that uranium is among those minerals that require exceptional caution because of the environmental and security concerns associated with its extraction and use.
Contacted yesterday by Kiskadee Watch, GGMC’s Commissioner Newell Dennison directed all queries to the Ministry of Natural Resources, indicating that should the ministry need information from the Commission contact will be made.
Efforts by Kiskadee Watch to obtain a comment from Minister of Natural Resources Vickram Bharrat proved futile.
Solomon argued that Guyana risks repeating mistakes seen in other extractive sectors if major decisions continue to be made without sufficient public disclosure.
“For too long, Guyanese have been asked to embrace major resource developments before being provided with the information necessary to fully assess their implications,” he said.
He contended that concerns raised in recent years about environmental monitoring, regulatory supervision and compliance enforcement in the petroleum sector should serve as a warning as the country contemplates the possible development of a uranium industry.
“Even as Guyana earns billions from oil and gas, concerns continue to be raised regarding environmental monitoring, compliance enforcement, auditing and regulatory supervision,” he said.
The opposition parliamentarian also referenced observations made by the Guyana Extractive Industries Transparency Initiative (GYEITI) regarding the need for stronger governance arrangements and disclosure practices within the extractive sector.
According to Solomon, it is reasonable to question whether Guyana currently possesses the technical expertise, emergency response capacity and monitoring systems required to effectively regulate uranium extraction should commercially viable deposits eventually be developed.
He also criticised the pace of parliamentary oversight, noting that Parliament’s Natural Resources Sectoral Committee only recently met to appoint a chairperson after months of inactivity.
“These licences continue to be issued, transferred and renewed. Agreements continue to be negotiated and contracts continue to be signed. Strategic decisions continue to be taken. The committee is still to set its first meeting date,” he said.
Solomon further argued that the transfer of uranium exploration rights to a foreign company highlighted the need for greater transparency in the management of the country’s natural resources.
“The principle remains simple: the resources belong to the people, and the agreements governing those resources should be available to the people,” he stated.
He called for the publication of agreements governing uranium exploration, stronger environmental safeguards, expanded technical capacity within regulatory agencies and meaningful consultation with affected communities, particularly Amerindian villages located in mineral-rich regions.
The APNU parliamentarian also raised concerns about the state of infrastructure in the hinterland, arguing that the country must assess whether existing transportation networks, emergency services and regulatory systems are capable of supporting increasingly complex mining operations.
“Development cannot be considered responsible if the voices of affected communities are absent from the decision-making process,” he said.
For Solomon, the debate extends beyond uranium itself.
“The conversation before us is larger than uranium,” he said. “It is about governance, accountability, and whether Guyana is prepared to manage its expanding resource wealth in a manner that protects both present and future generations.”
On Friday, U92 announced in a press release that it had received Toronto Stock Exchange and Toronto Venture Exchange approval and closed a binding Asset Purchase Agreement to acquire the complete historical technical and exploration dataset relating to the Kurupung Uranium Project in Guyana.
Pursuant to the transaction, U92 said it had issued 1,030,927 common shares of the Company at a deemed price of CDN$0.485 per share to the arm’s-length vendor.
Adam Clode, Executive Chairman and CEO of U92, stated, “Securing ownership of exploration work completed over more than a decade at Kurupung is a pivotal milestone that materially strengthens the project’s technical foundation ahead of an updated mineral resource estimate and inaugural drill program. By completing the transaction on an all-share basis, U92 has enhanced the value of its asset while preserving capital for exploration.”
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