– silver, platinum and palladium now covered as Government strengthens quality controls

THE Government has expanded the regulatory framework governing Guyana’s jewellery industry with the introduction of new standards for silver, platinum and palladium, as efforts continue to modernise the sector and prepare it for greater participation in international markets.
Technical Consultant at the Ministry of Natural Resources, Dominic Gaskin, said the new standards form part of the broader strategy to transform Guyana into a gold and jewellery hub by 2030.
Gaskin, while on a recent episode of the Starting Point podcast, explained that the country previously had only one mandatory standard specifically governing the jewellery industry: the Guyana Gold Standard, which has been in existence for approximately 30 years.
While the Gold Standard remains applicable to businesses selling gold jewellery, three new standards have since been developed to cover other precious metals commonly used in the industry.
“We have since developed three new standards because gold is not the only precious metal used in jewellery,” Gaskin said.
The new standards cover silver, platinum and palladium, while additional standards have also been developed for diamonds and testing of high-purity metals.
He went on to add that compliance with the relevant standards will be a requirement for jewellers seeking to operate under a reimagined national brand, which it was disclosed is being promoted as a vehicle to position Guyana’s gold and jewellery products on international markets.
These standards form part of a wider set of criteria that businesses must satisfy to become licensed under the brand. These include requirements relating to business practices, product descriptions and receipts, accepted payment methods and proper identification of the business premises.
The initiative is intended to strengthen consumer confidence while ensuring that jewellery promoted under the national brand meets established quality requirements.
Gaskin also highlighted the importance of legal and ethical sourcing, noting that jewellers licensed under El Dorado Reimagined will be required to use legally sourced gold. The development of the additional standards comes as Government seeks to shift the jewellery industry towards a more modern, technology-driven and productive model.
The wider strategy contains 15 strategic initiatives aimed at addressing longstanding deficiencies in the sector, increasing investment and production, and expanding Guyana’s presence in international gold and jewellery markets.