-as GGMC takes steps to tighten mining sector
IN an effort to tighten its grip on the mining sector, the Guyana Geology and Mines Commission (GGMC) on Friday said that all miners and stakeholders will now be required to have a local bank account and must visit its office to update their personal records.
The announcements were made in two separate press releases hours after President Dr. Irfaan Ali met with the leadership of the commission and the Ministry of Natural Resources. During that engagement, President Ali gave several directives including that immediate action must be taken to ensure that all gold miners fully comply with their obligations to declare all gold produced in 2025, the deregistration of all registered dredges with no declarations and the identification, prosecution and expulsion of all illegal foreign miners.
The commission stated that by January 31, 2026, all miners and stakeholders, including traders, are required to present themselves at the commission’s office for the purpose of updating their personal records.
“Such records include, but are not limited to, mailing address, electronic mail address(es), telephone contact number(s), and banking details.
“The obligation to ensure that this information is accurate and current rests solely with the licence or permit holder.
“All updates must be completed no later than 31 January 2026. Non-compliance with this requirement shall result in the suspension of the relevant licence(s) and/or permit(s),” the press release said.
In a second press release, the commission said that it hereby gives notice that, pursuant to its regulatory and supervisory authority, all miners and stakeholders are required to maintain a local bank account as a mandatory condition for the processing, access, and/or renewal of permits and licences.
“All persons who have not previously submitted their banking information to the Commission are hereby required to do so on or before 31 January 2026.
“Any person who is not currently the holder of a bank account is required to take immediate steps to regularise this matter,” the commission said adding that in furtherance of this requirement, the Ministry of Natural Resources shall collaborate with the banking sector to facilitate outreach exercises in Mahdia, Puruni, and Matthew’s Ridge, during which authorised representatives of banking institutions will assist with the establishment of personal bank accounts.
A further notice shall be issued advising of the dates and times of such outreach activities.
Non-compliance with this requirement will affect the processing, issuance, or renewal of licences and/or permits, the commission warned.
