GGMC issues warning over illegal gold transactions

The Guyana Geology and Mines Commission (GGMC) has issued a stern reminder to all mine operators, claim holders, permit holders, and lessees that paying wages or compensating goods and service providers with gold is strictly prohibited. This reminder comes as part of the GGMC’s efforts to enforce regulations governing the conveyance and sale of gold in the country.
In a public notice, GGMC Commissioner Newell Dennison emphasised that such transactions involving gold, in any form, are illegal unless proper permits or licences have been obtained from the relevant authorities. The regulations are clear that gold obtained from mining activities must only be sold to the Guyana Gold Board, authorised dealers, or traders licensed by the GGMC.
“Failure to comply as stated above could result in the seizure of the gold by the proper authority, and legal action against the involved parties,” Commissioner Dennison warned.
The GGMC urges all stakeholders in the mining industry to adhere strictly to these guidelines to avoid penalties and legal repercussions. The Commission remains committed to ensuring that gold transactions are conducted within the legal framework, safeguarding the integrity of the mining sector in Guyana.