Stop paying in gold, declare all to reach national target – Miners Assoc

Last Updated on Sunday, 14 December 2025, 20:54 by Writer

The Guyana Gold and Diamond Miners Association (GGDMA) has called on all miners to stop using gold as a substitute for currency transactions and instead declare all the precious metal to the gold board to help reach the national target of 500,000 ounces for this year.

“The gold belongs to the state and the practice of paying and trading in gold must end,” GGDMA’s re-elected President, Ronaldo Alphonso was quoted as saying in an association statement to announce the results of the association’s internal elections at its Annual General Meeting (AGM) held on Friday.

For its part, the Ministry of Natural Resources reiterated that workers in the mining sector must not be paid in raw gold.

The ministry said all employees are to be compensated through lawful financial channels in accordance with labour laws and tax regulations.

“Paying workers in gold undermines transparency, weakens declaration accuracy, and exposes workers to exploitation and unsafe practices,” the Natural Resources Ministry said in a statement on Saturday.

The ministry says it will increase inspections to ensure compliance, and employers found violating labour and tax rules will face penalties. We also remind miners that it is illegal for miners to allow what is commonly referred to as, the “Blai box”. “Gold can only be used as transactions with approved buyers and the Guyana Gold Board.”

The association also called on all miners to ramp up to their production to help meet the national target set at 500,000 ounces for 2025.

However, well-placed sources said the gold declared to date to the Guyana Gold Board totals around 420,000 ounces and could end the year at around 450,000 to 475,000 ounces.

Last year, 434,067 ounces of gold were declared compared to 432,113 ounces in 2023.

In a separate statement, the Ministry of Natural Resources on Saturday said it and the GGDMA were strongly urging all miners to conduct sales through the Guyana Gold Board or authorised licensed dealers. “This is essential to maintaining accurate national production data, supporting fair trade, and ensuring that the benefits of the sector are properly accounted for.”

The AGM also heard recommendations by a number of miners that the GGDMA should be considering blacklisting members who are caught in gold smuggling activities. “The meeting was unanimous in taking more decisive action against smuggling,” the association said.

According to the GGDMA’s statement, Mr Alphonso called on miners to immediately put an end to smuggling by refusing to sell to unlicensed buyers and illegal shops.

He said the GGDMA would be working even more aggressively with the Guyana government to help eradicate gold smuggling and the operation of illegal landings and shops.