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Rough diamond royalties increase by 5 per cent in Guyana
Locally mined rough to be valued at a flat rate of $100 per carat
By: Diamond World News Service
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May 9 2007 12:00AM
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Reference: 1376  

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As per industry reports, the Guyana Geology and Mines Commission (GGMC) has served notice to all diamond traders that all locally mined rough diamonds would now be valued at a flat rate of $100 per carat up 33 per cent from an earlier $75 per carat.

The royalties have increased accordingly, to a total of 5 percent, or $5 per carat.

On the other hand, the Guyana Gold and Diamond Miners Association complained is disturbed by the ruling since they were not consulted before taking this decision.

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