Illegal  buying  and selling of  gold

Emanating from a recent analysis and assessment, the Government of Guyana has noted the significant difference between the production of gold and the declaration/ sale of gold to licensed gold dealers, traders, and/or the Guyana Gold Board. This is evident from the reduction in gold declaration to date when compared to current mining activities and concomitant investment within the sector. In this regard, an investigation has been launched aimed at having those involved in such action face the full force of the law.

Miners and operators are therefore reminded of the following:

1.   Miners are required to sell all gold to licensed gold dealers/ traders or the Guyana Gold Board;

2.  It is illegal to purchase gold without the requisite licence to undertake such activities.

The relevant agencies have been tasked with immediate and condign 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 prosecuted, and in the case of miners with existing property tenures within the Guyana Geology and Mines Commission (GGMC), they may be in jeopardy of losing such tenures. Miners culpable of selling gold to unlicensed dealers/ traders, in addition to being prosecuted, may be restricted from the mining sector.