The miners association yesterday expressed full support for the government’s warning on Monday about unlawful gold trading and said it will not defend any person found to be legally culpable for such misconduct.
In a statement yesterday, the Guyana Gold and Diamond Miners Association (GGDMA) said that it is in full solidarity with Government’s statement of October 23rd regarding the eradication of the unlawful trading of gold.
The GGDMA noted that in August 2023, it issued a statement calling for the complete removal of illegal buyers, sellers and illegal operators in the gold sector; for them to be dealt with to the fullest extent of the law and completely removed from the mining sector of Guyana.
“We are heartened at this statement as it is our hope that these public utterances are indeed followed by requisite action by the relevant agencies to bring violators to heel.
“We wish to strongly advise our membership to follow the law and to ensure that you are not party to these illicit acts that are destroying the goodwill of the sector and miniaturizing the essential role the gold and diamond mining sector plays in national development. We will not defend any person or entity, member or not, found to be legally culpable for misconduct of this nature. Extra money on an ounce of undeclared gold is not worth losing your ability to ply your trade or the serious damage it is doing to the industry”, the GGDMA said.
The GGDMA emphasized that regulations relating to the buying and selling of gold are in place to protect their livelihood, the legitimacy of operations, the economy of the country and the reputation of the industry on a global scale. It said that compliance should not be viewed as a burden but as a crucial responsibility.
“We implore all miners to refrain from engaging with entities that do not hold the necessary legal permits and credentials for gold trading. When selling your gold, ensure that you get a receipt and continuously check with the Guyana Gold Board to reconcile your records to make certain that the gold you have sold to the relevant trader or dealer is correctly recorded at the Gold Board and that the correct amount of gold has been declared and the relevant royalties and taxes have been remitted on your behalf”, the GGDMA advised.
While it supports strong action against operators who are selling to illicit buyers, the GGDMA said that particularly potent action must be taken against the multitude of illegal buyers of gold around the various mining districts as well as even in Georgetown.
“Not every location with a `We buy gold’ sign in the front has the legal right to do so; this blatant and shameless illegality must be rooted out from our society and the sector. As long as these illicit buyers exist, they will have an unfair advantage against legal buyers who follow the law and deduct the relevant taxes and royalties; removal of the illicit buyers means that more gold will go to the legal buyers and hence reflected at the Gold Board. We implore the relevant agencies to do everything legally possible to curtail these illegal acts, whether perpetrated by local or foreign entities”, the miners group urged.
Announcing the launch of an investigation, the government on Monday in a press statement warned that miners culpable of illegally purchasing and selling gold to unlicensed dealers/ traders are liable to prosecution and shall be restricted from the mining industry.
The statement made it pellucid that miners are required to sell all gold to licensed gold dealers/ traders or the Guyana Gold Board and that it is illegal to purchase gold without the requisite licence to undertake such activities.
The statement said that “Emanating from a recent analysis and assessment, the Government of Guyana has noted the significant difference between the production of gold and the declaration/ sale of gold to licensed gold dealers, traders, and/ or the Guyana Gold Board”.
Issued through the Ministry of Natural Resources, the statement said that “This is evident from the reduction in gold declaration to date when compared to current mining activities and concomitant investment within the sector”.
In this regard, an investigation has been launched aimed at having those involved in such action face the full force of the law.
The relevant agencies have been tasked with immediate and “condign actions” to ensure that all gold mined is sold to licensed dealers/traders or the Guyana Gold Board.
Persons in breach of this legal requirement will be prosecuted, and in the case of miners with existing property tenures within the Guyana Geology and Mines Commission, they may be in jeopardy of losing such tenures, the statement further admonished.
