Section 7 of the Guyana Gold Board Act Chapter 66:01 provides that it shall not be lawful for anyone who is not a producer (gold miners) to have any quantity of gold in his possession. Such person is required to sell any quantity of gold within his possession within twenty-eight (28) days after the coming into operation of the Act, to the Guyana Gold Board or to any agent authorised in writing by the Board.

The exceptions to this section are as follows:

1. A person who is lawfully in possession of gold as the holder of a goldsmith’s licence under section 59 of the Tax Axt, Chapter 80:01 or as a duly registered dentist under the law for the time being in force in Guyana;
2. A person who is in possession of gold not obtained in Guyana and who is in transit in Guyana, the onus of proof thereof being on the person in possession of such gold.

a. Gold to be sold to and purchased from the Board.

Section 8 of the Guyana Gold Board Act provides that no person shall sell any gold, or purchase any gold from, any person other than the Board or any agent authorised in writing by the Board or export any gold.

Exceptions to sections 7 and 8 can be found in sections 9 and 10.

b.  Authority to purchase and export gold -Licensed Gold Dealers

Section 9 (1) of the Guyana Gold Board Act provides that notwithstanding the provisions of sections 7 and 8, where an application is made to the Board by any person in the prescribed manner, the Board may authorise that person to have in his possession or to sell or export such quantity of gold as the Board may allow subject to such conditions as the Board may think fit to impose.

c. Authority to purchase gold- Licensed Traders (Bartering)

Additionally, section 9 (2) of the Guyana Gold Board Act gives to a person duly authorised under the Tax Act to sell, barter, or expose for sale goods at any place in the mining district, the authority to advance money or supply goods on credit to a miner in consideration of payment being made with gold won or obtained in the course of prospecting for, exploiting and processing gold, and precious stones.

Provided that the trader shall-

1. Within ten days of receipt of the gold inform the Board of such receipt; and
2. On demand sell all gold so received to the Board at the price fixed.

Additionally, the trader is required to record every transaction in a book kept by him for that purpose stating the amount of money advanced or the description and amount of the goods supplied, and the cost and the amount of gold received as payment. The book is required to be produced for inspection to any officer of the Board or to any other person authorised by the Board to do so.

d. Authority to purchase gold- Licensed Traders

Section 10 of the Guyana Gold Board Act also gives a person duly authorised under the Tax Act to sell, barter, or expose for sale goods at any mining place in a mining district, the authority to purchase gold.

Provided that the trader shall-

1. Within fourteen (14) days of the purchase of such gold inform the Board of such purchase; and
2. On demand sell all gold in his possession to the Boatd at the price fixed.

Additionally, the trader is required to record every transaction in a book kept by him for that purpose stating the amount of gold purchased or sold by him. The book is required to be produced for inspection to any officer of the Board or to any other person authorised by the Board to do so.

By virtue of section 7 (3) (a) of the Guyana Gold Board Act, a person holding a Goldsmith Licence issued by the Guyana Geology and Mines Commission (GGMC) under section 59 of the Tax Act, 80:01 is authorised to have gold in his possession. As such Guyana Gold Board may sell gold to these licensees.

Licenced goldsmiths are required to provide the following documents when purchasing gold from Guyana Gold Board:

1. Identification Card or Passport
2. Goldsmith’s Licence
3. TIN Certificate
4. Proof of Address.

If the goldsmith is desirous of authorising a third party to buy gold on his or her behalf, in addition to the documents listed above, the customer must also provide the following documents:

1. Authorisation Letter on the company’s letterhead or a completed Third  Party Authorisation Form
2. National Identification Card / Passport for the Third Party
3. Proof of Address.for the Third Party

1. Identification Card/ Passport
2. TIN Certificate / Driver’s Licence
3. Proof of Address
4. Mining Licence(s) and/or Permit
5. Form 14-Permit to Convey (Production Sheet)- Note that this should be produced by the customer for every transaction.

1. Certificate of incorporation
2. Articles of incorporation
3. By-laws
4. Notice of Shareholders
5. Notice of Directors
6. Notice of Secretary
7. Notice of Address
8. Declaration of Compliance
9. Certified copy of Share Register
10. Certificate of Good Standing
11. Company TIN
12. Mining Licences and /or Permits
13. Guyana Revenue Authority (GRA) Tax Compliance Certificate
14. Form 14-Permit to Convey (Production Sheet)

Documents for Director(s) and Beneficial Owner(s) of a Company:

1. National Identification Card/ Passport
2. Proof of Address
3. TIN Certificate / Driver’s Licence

1. Valid Certificate of Registration
2. Guyana Revenue Authority (GRA) Tax Compliance Certificate
3. National Identification Card/ Passport
4. TIN certificate/ Driver’s Licence
5. Proof of Address
6. Mining Licence(s) and/or Permit
7. Form 14-Permit to Convey (Production Sheet)

1. Partnership Agreement (if applicable)
2. Business Registration (if applicable)
3. Identification Card/ Passport for each partner
4. TIN Certificate / Driver’s Licence for each partner
5. Proof of Address for each partner
6. Mining Licence(s) and / or Permits
7. Form 14-Permit to Convey (Production Sheet)

In addition to the documents required for the different types of customers (whether a natural person customer, registered business, partnership or legal person customer, a person licenced to trade in valuable minerals and precious stones by the Guyana Geology and Mines Commission under section 58 of the Tax Act, Chapter 80:01 is required to produce the following documents when selling gold to Guyana Gold Board:

1. Licence to Trade in Valuable Minerals & Precious Stones
2. Trader’s Record Book and/or Daily Transaction Book (effective May 1, 2024, these records can be submitted electronically via email address: ggbinfo@ggb.gov.gy.
3. Form 14-Permit to Convey (Production Sheet)

Yes, a customer may authorise a third party to conduct business on their behalf.

In addition to the documents required for the relevant customer, the third party is required to produce the following documents:

1. Authorization Document which can include:
   • Power of Attorney;
   • GGB’s Third-Party Authorisation Form (Individuals, Businesses or Partnerships) or;
   • Authorisation on Letterhead (for Companies)
2. National Identification Card/ Passport for Authorised Person
3. Proof of Address for Authorised Person
4. TIN Certificate/ Driver’s Licence for Authorised Person

1 Troy Ounce = 31.1 Grams

1 Troy Ounce = 20 Pennyweights

1 Pennyweight = 24 Grains

To convert:

Grams to Troy ounces – Divide by 31.10348
Grams to Pennyweights – Multiply by 0.643014
Pennyweights to Grains – Multiply by 24

1.  Divide your wet weight by your dry weight
2. Multiply that result by 2307.454
3.  Subtract 2088.136 from the result in step 2.

The answer is the density of your gold.