Latest update April 3rd, 2025 7:31 AM
Jewellers, goldsmiths urged to buy gold from the Gold Board
One of the stakeholders raising his concerns at Tuesday engagement.
Kaieteur News – Licensed jewellers, goldsmiths and gold buyers were on Tuesday urged to purchase gold from the Guyana Gold Board (GGB) and to comply with the rules and regulations that govern the sector. The plea was made by Minister of Natural Resources Vickram Bharrat during a meeting with stakeholders at the Duke Lodge, Kingston.
The minister was joined by Head of the Guyana Geology and Mines Commission (GGMC), Newell Dennison and the GGB’s General Manager, Eondrene Thompson.
The Natural Resources minister said that the meeting was aimed developing a working relationship with the jewelers and gold smiths across the country to ensure proper compliance in the sector.
He said government wants to ensure “that the consumers get their money worth”. He noted that GGB’s GM and GGMC’s head have flagged a number of shortcomings by gold dealers, thus the need for a discussion to address the gaps that exist.
Minister Bharrat said that within the last the three years the government has been working towards strengthening the sector because the main objective is to have “everything produced be declared”.
The minister said too that the government is aware of the concerns raised by the licensed dealers who are not buying gold from the GGB as is mandated by law. He told the stakeholders that efforts are being made to address the concerns. Among the concerns raised include the safety of purchasing gold from the GGB and the quantity and quality of gold sold by the state entity.
The Natural Resources Minister assured the stakeholders that the government in collaboration with the GGMC and the GGB will explore ways to make the purchase of gold from the GGB safer. Notwithstanding, the minister reminded that while excuses are being made as to why gold is not being bought from the Gold Board, the law must be followed.
“When you apply for your goldsmith license you knew of all the conditions that existed. You were granted that license or permit based on what existed and that is what you accepted,” Bharrat told stakeholders.
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