The Government of Guyana has taken steps to enhance its monitoring of gold dealers and traders, amid concerns over reduced declarations. In a collaborative effort with the Guyana Gold and Diamond Miners Association (GGDMA), the Ministry of Natural Resources (MNR) aims to address these issues and promote responsible management of the country’s mineral resources.
The measures announced include intensified audits, regular compliance checks, and stricter enforcement of licensing requirements. Dealers found violating regulations will face sanctions, including licence suspension or revocation.
The government is also expanding its field operations to curb illegal mining, increase production reporting, and ensure environmental safety standards are met. The aim is to promote fair trade, accurate national data, and the proper accounting of sector benefits.
A key aspect of these efforts is the prohibition on paying workers in raw gold, as this practice undermines transparency and exposes employees to exploitation and unsafe practices.
The Ministry of Natural Resources reaffirms its commitment to working with industry stakeholders, including the GGDMA, to strengthen the sector, increase declarations, and protect Guyana’s natural resources.
Source: guyanachronicle.com
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