GEORGETOWN, Guyana, CMC – The Guyana authorities has warned individuals that they face prosecution in the event that they proceed to buy gold with out the requisite license.
In an announcement, the federal government stated that emanating from a current evaluation and evaluation, it has famous the numerous distinction between the manufacturing of gold and the declaration and sale of the commodity to licensed gold sellers, merchants, and the Guyana Gold Board (GGB).
“That is evident from the discount in gold declaration so far when in comparison with present mining actions and concomitant funding inside the sector. On this regard, an investigation has been launched aimed toward having these concerned in such motion face the total pressure of the regulation,” it warned.
The federal government stated that miners and operators are required to promote all gold to licensed gold sellers and merchants or the GGB and that it’s unlawful to buy gold with out the requisite license to undertake such actions.
“The related businesses have been tasked with fast and condign actions to make sure that all gold mined is offered to licensed sellers/merchants or the Guyana Gold Board.”
It warned that individuals in breach of this authorized requirement “can be prosecuted, and within the case of miners with present property tenures inside the Guyana Geology and Mines Fee (GGMC), they might be in jeopardy of shedding such tenures.
“Miners culpable of promoting gold to unlicensed sellers/ merchants, along with being prosecuted, could also be restricted from the mining sector,” the assertion added.
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