The Ministry of Natural Resources held a meeting with miners, goldsmiths, jewellers, and licensed gold buyers to discuss compliance regulations in Guyana’s mining sector, focusing on the buying and selling of gold.
Minister Vickram Bharrat, accompanied by representatives from the Guyana Gold Board and the Guyana Geology and Mines Commission (GGMC), led discussions on challenges faced by industry operators.
They addressed concerns about transaction standards, ensuring quality and quantity of gold, and the need for improved monitoring systems to verify dealers’ legitimacy.
During the meeting, Minister Bharrat announced plans to explore an online platform.
This platform aims to simplify the declaration process of gold production to authorities and enhance data collection efforts across the country.
Participants also suggested decentralizing the Guyana Gold Board to improve dealer access.
Minister Bharrat acknowledged the accessibility issue posed by a single main office and expressed interest in exploring alternative approaches, considering security concerns.
The meeting concluded with a commitment to continue addressing critical issues facing the gold industry, ensuring robust regulatory frameworks to support sector needs.