By Abigail Headley
Amid widespread concerns about illicit gold dealings, a meeting was hosted yesterday by the Ministry of Natural Resources with jewellers and qualms about security were raised.
The meeting commenced with the insistence from the officials present that gold be purchased only from the Guyana Gold Board (GGB).
As jewellers were encouraged to air their concerns and make enquiries at the meeting, Ramdas Singh from Bushlot Berbice shared the harrowing tales of intimidation and violence experienced by him and his son at the hands of armed robbers. Earlier in the meeting, Minister of Natural Resources Vickram Bharrat pointed out that there have been calls for the GGB to be present in locations across the country. This he said was an unreasonable request.
“I heard a comment from one jeweller, that we should take the Gold Board to other parts of the country. That is not just not possible, to take the Gold Board to every location where a goldsmith is functioning. And you must be fair to us, that when you applied, when you submitted the application for the goldsmith licence, that you knew of all the conditions that exists at that point in time. You were granted the licence and permit based on the conditions that existed, and that you accepted. That is why you applied. And you knew that gold must be purchased from the Guyana Gold Board’s central location in Queenstown, Georgetown… so that is a very unfair comment and it is not practical,” the minister said.
It was to this comment that Singh responded in sharing his story.
“I was listening to you minister that the Gold Board cannot move. Okay, if you go to the Board you will get good stuff or whatsoever. That is easy thing. That is ABC. You could go with a cheque and you purchase your gold. But, when you leave the Gold Board to go back home, there’s when the problem come. As I stand here today God save me. You know I was selling at the market, me and my son. One morning we went there [and] two person was waiting there. One took the bag, the gun snap two time. The other one he shot my son through the jaw [and] he fell on the floor. He have to get away, go to the US, frightened, every time the ambulance pass on the road he scared, nighttime he wake up and start cry and start behave… he (had) to leave,” the man recounted.
The Berbice jeweller also pointed out that he has been unable to acquire a gun licence to protect himself should he want to travel to the Gold Board office in Georgetown to conduct business.
“Minister, I applied to the government, I applied through the Guyana Police Force 2003, this is 2024, for a licenced firearm. Can’t get it. You know I can come at the Board and buy gold, but [the] problem [is] how I gon meet back? Before I reach the stoplight, motorbike man ride up and [attack]”.
Secure location
Newell Dennison, Commis-sioner of the Guyana Geology and Mines Commission), who responded to queries from jewellers, acknowledged Singh’s concerns and also welcomed a suggestion from the audience that banks could be used as a secure location for jewellers to purchase refined gold.
“[On] the matter of safety and security… that has to be so hurtful. And even as I am at pains with what you would have experienced, and I know that there is a sense of security if you did have your own firearm. I’m also of the view, too, that sometimes you might not be compatible with what they’re coming with. So security in a general sense, is something that you’re confronting, but in a larger sense, it will be something that the GGB would have to confront if it does have agents going out on a regular basis to the spots where the jewellers may want to purchase the refined gold…”, he said.
As to the suggestion from the audience to have it at banks, Dennison said “That’s a potential option, if your banks would want to take your risk. Because we can’t force the banks, but I am sure that they will have their own particular conditions, what their insurance might cover, for example, by having that additional risk. I don’t know what those are. But as I expected this conversation to be, is to explore, explore options,” he said.
Also present at the gathering was former Minister of Business and Proprietor of the Topaz jewellery store, Dominic Gaskin, who advocated for greater transparency and collaboration between the government and jewellers. He proposed that jewellers be given more information about how their gold is being used and suggested that an app could be developed to track gold movement.
Other jewellers present at the meeting echoed Gaskin’s sentiments, emphasizing the need for greater cooperation and understanding between government agencies and the industry. Faizul Nazim from Nazim Jewellery questioned how jewellers should handle raw gold brought in by customers, while Andrew Rampersaud from A&N Exclusive Jewellery expressed concerns about wholesalers selling gold without proper licences.
In response to some of the queries and suggestions, Dennison mentioned that the Guyana Gold Board aims to monitor all gold movements, including that of unlicenced jewellers, to prevent illegal activities. He also highlighted the need for a mechanism to certify the quality of the materials sold to the public.
Dennison further noted that many wholesalers buy and sell gold without proper licences, making it difficult to enforce regulations. He suggested that the GGB focus on containing illegal activities rather than targeting individual jewellers.
During his brief opening remarks, Dennison emphasized the need for jewellers to work together with the GGB and other stakeholders to improve accountability and compliance with regulations.
In addressing the gathering, Eondrene Thompson, Director of the GGB, emphasized that it is mandatory for jewellers to purchase gold from the GGB, but acknowledged that only a few actually do so. She further stated that the GGB is committed to serving the interests of jewellers in their business.
The meeting also touched on issues related to licensing, with some jewellers expressing frustration about the lengthy process and high costs associated with obtaining a licence. During his lengthy remarks, Bharrat highlighted several initiatives undertaken by the government to support the industry, including tourism development and economic growth.
The meeting comes on the heels of the recent United States sanctions on Nazar Mohamed and Azruddin Mohamed, and government Permanent Secretary Mae Toussaint-Thomas along with two separate cases of attempted jewellery smuggling at the airport. The Mohameds have been accused of massive under-declaring of gold among other things.
The Ministry recently issued a notice warning jewellers to only purchase gold from the Guyana Gold Board and stating that the geology and mines commission will be embarking on a countrywide enforcement campaign.
In the notice on the ministry’s Facebook page, the GGMC advised goldsmiths, jewellers, and individuals engaged in the purchase of gold, that all gold used in the process of jewellery making and/or goldsmith operations must be exclusively bought from the GGB, which is the only entity authorized to sell gold within Guyana.
In keeping with Section 8 of the Guyana Gold Board Act, the GGMC said it is illegal for any person to sell any gold to a goldsmith or jeweller, or for a goldsmith or jeweller to purchase any gold from any person/entity other than the Guyana Gold Board.
It also noted that Section 58 of the Tax Act also imposes on licenced goldsmiths, specific reporting obligations to the GGMC within seven days of every month:
1. the quantity of gold purchased during the month in question;
2. the quantity of gold used during the said month in question;
3. the quantity of gold on hand on the last day of the said month;
4. the name and address of every person from whom the gold is bought.
“The GGMC will be embarking on a countrywide enforcement exercise to ensure that all Goldsmiths and/or Jewellers abide with the legal and reporting requirements as stipulated by law”, the notice warned.
