Payment of wages, services in gold strictly prohibited – GGMC warns

The Guyana Geology and Mines Commission (GGMC) has issued a public notice to all mine operators, claim holders, permit holders, and lessees, reiterating the prohibition against paying wages or compensating goods and service providers with gold in any form.
This reminder comes as part of the enforcement of the governing regulations regarding the conveyance of gold, which strictly forbids such transactions unless the proper permits or licenses have been obtained from the relevant authorities.
In the notice, Commissioner of the GGMC, Newell Dennison, emphasised that gold obtained from mining activities must be sold exclusively to the Guyana Gold Board, authorized dealers, or traders licensed by the GGMC. The commission also warned that any failure to comply with these regulations could result in the seizure of gold by the authorities and legal action against the involved parties.
The GGMC in the notice urged all stakeholders in the mining sector to adhere strictly to these guidelines, underscoring the importance of maintaining lawful and regulated gold transactions in the industry.