Illegal Selling of Gold

/in /by

Thursday June 13, 2024

The Guyana Geology and Mines Commission (GGMC) reiterates to all stakeholders, the legal requirements and obligations regarding the sale of gold.

As stipulated under Sections 6 & 8 of the Guyana Gold Board Act, persons who possess gold as a producer (miner) or a Tributor, are required to SELL ALL gold to the Guyana Gold Board, or an authorized buyer. An authorized buyer may be one of six licenced Gold Dealers currently licenced by the Guyana Gold Board, or persons /entities who are Licenced Traders in gold as authorized by the GGMC. For clarity, miners, operators and Tributors are reminded of the following:

Miners, Operators and Tributors are required to sell their gold to:

  • The Guyana Gold Board (GGB), has offices in Georgetown, Port Kaituma, and Bartica, and conducts periodic mobile transactions in other Mining Districts.
  • Gold Dealers of which there are six (6) such registered and licenced entities.
  • Licenced Traders in gold who are authorized by GGMC by way of a Traders Licence issued in 2024 and valid until the 31% December, 2024.

The relevant law enforcement and regulatory agencies are continuing with decisive actions to ensure that all gold mined is sold to licensed Dealers, Traders or the Guyana Gold Board. Persons in breach of this legal requirement will be subject to criminal prosecution. More importantly, miners with existing property tenures within GGMC who are complicit with these illegal activities will risk losing their tenures, and/or being restricted from the mining sector. Miners are urged to abide and operate within the confines of the legal requirements for the sale of gold and remain vigilant in ensuring that all gold transactions are conducted through official channels. For further guidance or clarification regarding the correct procedures for selling gold, or to report any suspicious gold trading activities, please contact the Commissioner, Guyana Geology & Mines Commission or the Ministry of Natural Resources.

Commissioner

Guyana Geology & Mines Commission

No photo description available.