In this regard, the Guyana Gold Board has pointed out that the current outreach follows representation by the GGDMA and other stakeholders for the need to ensure that the GGB Act and other related legal provisions are complied with by those involve in the gold trading and the wider mining sectors.
The GGDMA has expressed fears that moves were afootto criminalizing the entire mining industry.
In response, the Gold Board said it must be recalled that on June 4, at a meeting with stakeholders of the gold mining sector, the GGDMA emphasized that there must be more monitoring and enforcement of the mining regulations by both the Guyana Geology and Mines Commission (GGMC) and GGB.
“In addition, the executive members of the GGDMA, including the President of the Association stated that the GGB must undertake more monitoring of all stakeholders of the gold mining sector, which is in accordance with the Guyana Gold Board Act of 1981,” a statement noted.
The Gold Board also recalled that the GGDMA itself had emphatically made the call for the mining industry to improve their level of declarations.
“The activities being carried out by the GGB includes the verification of all licenced gold dealers for 2014 and the details of the records by dealers corresponding to the GGB records. Moreover, all licensed dealers are subject to conditions which states that (a) for each dealer, the Board shall undertake periodic reconciliation between purchases made, holdings, and sales to the Board and (b) every dealer shall permit a duly authorized officer to enter the premises of the authorized dealer at reasonable times to inspect records. These activities are being done in accordance of the GGB Act which has never been questioned as to its relevance in governing the modern gold mining sector.”
The GGB has been mandated by the Board of Directors and the Ministry of Natural Resources and the Environment to ensure full stakeholders collaboration in fulfilling its obligations for the betterment of the gold trading sector and the wider mining community.
The GGB reiterated the recognition of miners, dealers and other stakeholder of the gold sector to the national economy and denounces any effort to impute motives that these ongoing examinations are a matter of criminalization.