The Natural Resources Ministry, along with the Guyana Gold Board and the Guyana Geology and Mines Commission, has issued a reminder to the public that only individuals or entities holding a valid gold dealer’s license issued by the Guyana Gold Board (GGB), or a valid trader’s license issued by the GGMC, are legally permitted to purchase gold in Guyana.

According to a statement issued by the Ministry, an application for a new license or the renewal of an existing license does not grant any legal authority to conduct gold trading activities.

It said all pending applications for trading licenses in gold and precious stones must await the formal and official issuance of their license prior to engaging in any such transactions.

The Ministry has also warned that anyone caught trading in gold without a valid license, will be
prosecuted in accordance with the laws of Guyana.

The notice from the Ministry follows a number of recent gold smuggling cases involving a number of foreign nationals and locals.

Two weeks ago, two Brazilian nationals, a Cuban national and a Guyanese were arrested as part of a major probe into a gold smuggling operation.

In a statement just after the bust, the Special Organised Crime Unit said the four were arrested as SOCU agents successfully intercepted an alleged gold smuggling attempt in an intelligence led operation. SOCU did not indicate where the operation took place.

SOCU said that based on credible intelligence, the operation was launched and the four were with a large quantity of gold valued over $30 million and over G$31 million in cash. The investigating officers also confiscated a quantity of electronic equipment.

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