Guyana Gold Board 2017-01-11T11:42:53+00:00

Guyana Gold Board

The Guyana Gold Board was established on May 15, 1982 to manage the business of trading gold in Guyana. The Board purchases and sells gold within Guyana and abroad, at a standard price which is fixed twice daily. It also secures adequate supplies of gold ensuring equitable distribution at fair prices and engages in other commercial and industrial activities. The GGB has issued dealers’ licences to 9 entities and individuals who help to facilitate the purchase of gold from sellers across Guyana. In addition to its office in Georgetown, the GGB has offices in Bartica and Charity.

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Ministry of Natural Resources to investigate allegations of Agency’s transactions with fraud-accused licenced gold dealer; Police asked to provide information

PRESS RELEASE The Ministry of Natural Resources has noted the media reports regarding the charges of alleged bank fraud against licenced gold dealer Saddiqi Rafeek Mohamed Rasul and the alleged linkages with personnel at the Guyana Gold Board. As a consequence of these reports, the Ministry will maintain its vigilance over the operations of the Board and will task the incoming Directors  with the immediate task of probing this and related matters as to whether anyone from the agency acted improperly or outside of their mandate in conducting business with said licenced gold dealer. We have also requested the Guyana Police Force to provide additional information and clarification with a view to aiding the investigation. The Ministry of Natural Resource is committed to transparency and accountability within the natural resources sector and will be fully engaged with the authorities in addressing any matter of impropriety in the sector, and in [...]

Gold declarations for 2016 surpass 700,000 ounces

PRESS RELEASE GEORGETOWN, Guyana – The Ministry of Natural Resources can officially announce that as of today December 31, 2016, gold declarations for 2016 have surpassed 700,000 ounces. Further to Minister of Natural Resources’ Honourable Raphael G.C. Trotman’s announcement of a 690,000 ounce declaration on Thursday December 29, 2016, updated information regarding declarations that came through late sales and from declarations made particularly by Mohamed’s Enterprise, a licensed gold dealer, to the Ministry, and the Guyana Gold Board, the end of year figure has been adjusted to 705,820 Troy ounces of gold. The Minister continues to laud the performance of all the miners in the record-breaking declarations for 2016 and asks them to recommit to breaking records again in 2017 where the target has been set at 700,000+ ounces. Additionally, the efforts of the licensed gold dealers cannot go unrecognised, as together, they, and the Guyana Gold Board, were able to achieve [...]

Varshnie Singh, Dr. Raquel Thomas, Vanessa Kissoon, Jocelyn Dow appointed to serve on Natural Resources Boards

Georgetown, Guyana – (January 28, 2016) Minister of Natural Resources, Mr. Raphael Trotman, today, inducted Director of Resource Management and Training at the Iwokrama International Centre for Rainforest Conservation and Development, Dr. Raquel Thomas-Caesar, former First Lady, Ms. Varshanie Singh, Social activist, Ms. Vanessa Kissoon and businesswoman, Ms. Jocelyn Dow, among others, to serve on the Boards of agencies under his remit. From left: Mr. Calvin Bernard, Chair-Wildlife Scientific Authority; Ms. Jocelyn Down, Chair-Guyana Forestry Commission; Minister within the Ministry of Natural Resources, Ms. Simona Broomes; Mr. Marcel Gaskin, Chair-Environmental Assessment Board; Minister of Natural Resources, Mr. Raphael Trotman; Dr. Allyson Stoll, Chair-Environmental Protection Agency, Mr. Phillip DaSilva, Chair-Wildlife Management Authority and Dr. David Singh, Chair-Protected Areas Commission. Ms. Singh and Dr. Thomas-Caesar will serve as members of the Protected Areas Commission, while Ms. Kissoon and Ms. Dow will serve on the Guyana Forestry Commission’s Board as member [...]

Minister Trotman inducts new Guyana Gold Board – says lots of work to be done

Georgetown, Guyana – (January 15, 2016) Minister of Natural Resources, Mr. Raphael Trotman, today, inducted the new members of the Guyana Gold Board (GGB) charging them to  fulfil their mandate  to the best of their abilities, for the good of the mining community and the nation. Newly installed Chairperson of the Guyana Gold Board (GGB) Mrs. Joycelyn Williams Those inducted today were Mrs. Joycelyn Williams, an Economist, who will serve as the Chairperson; Mr. John Yates, former Banker; serving as Deputy Chairperson; Ms. Lisaveta Ramotar, General Manager, Guyana Gold Board; Ms. Joanna Homer, Legal Officer, Ministry of Natural Resources; Ms. Theresa Foster, representative from the Bank of Guyana; Mr. Michael Somersall, Attorney at Law; Mr. Andron Alphonso, representative from the Guyana Gold and Diamond Miners’ Association (GGDMA) and Ms. Susan Bullen, Attorney at Law. A representative from the Guyana Geology and Mines’ Commission (GGMC) is expected to be [...]

Gold Board records 451,490 ounces – declarations exceed 2015 target

Georgetown, Guyana –(December 31, 2015) Despite  a significant drop in gold prices on the world market, and challenges in the mining sector over the past year, the Guyana Gold Board (GGB) has recorded 451,490 ounces of declared gold, surpassing this year’s target of 380,000 ounces. With the declarations, the GCB has recorded export earnings of approximately US$500 million, making the mineral, once again, the largest earner of foreign currency for Guyana. Minister of Governance, with responsibility for Natural Resources and the Environment, Mr. Raphael Trotman, said the declaration is a significant achievement in a price-declining market environment and all miners, particularly small and medium-scale miners, must be commended. “The performance of the gold mining sector was very impressive and very encouraging. With better regulation and more opportunities for miners, we expect to do even better in 2016. We are happy that the good life is coming to fruition,” Minister Trotman [...]

Integrity, accountability must be the bedrock of operations at new Bartica gold board office -says Trotman at re-commissioning ceremony

Georgetown, Guyana – (November 30, 2015) Minister of Governance with responsibility for Natural Resources and the Environment Raphael Trotman today charged that integrity and accountability must be the hallmark of operations at the newly-re-commissioned Guyana Gold Board office at Bartica. Trotman, who was accompanied by Minister of State, Joseph Harmon and Minister within the Ministry of Social Protection, Simona Broomes made these comments at a simple ceremony held to mark the reopening of the Bartica office. Operations were closed there in 2014 under the previous administration amidst allegations of gold tampering. Minister Simona Broomes cuts the ribbon to recommission the GGB's Bartica Office while Ministers Harmon and Trotman look on. The Bartica office has conducted significant trading in gold for years and remains one of the main sub-offices of the Guyana Gold Board (GGB). Minister Trotman noted that the closure of the office has had an adverse impact [...]