The Ministry of Natural Resource announced moments ago that it has identified a concerning discrepancy between the reported gold production and its declaration/sales to the Guyana Gold Board and other authorized dealers. The ministry said preliminary data suggest a concerning reduction in gold declaration, inconsistent with ongoing mining activities and sector investments.
Given the gravity of this situation, the ministry said an investigation is now in motion, adding that stringent legal actions await those found indulging in deceptive practices.
The ministry also reiterated to all miners and operators that all gold must be sold exclusively to licensed gold dealers/traders or directly to the Guyana Gold Board. It said too that unauthorized gold trading is prohibited and violators will face legal consequences.
Guyana Standard understands that enforcement agencies have been mobilized to ensure compliance and that all mined gold is channelled through appropriate, licensed channels.
Violators will be subjected to prosecution, the ministry said. The agency further noted that miners with existing property tenures within the Guyana Geology and Mines Commission (GGMC) risk forfeiture of these tenures. Furthermore, miners found guilty of engaging with unlicensed dealers may face potential bans from the mining sector.
