The Chinese translation is being made; the original is shown for now.
Almost nine months after the budget measure was announced, the Natural Resources Ministry has now implemented the increase in the Guyana Gold Board’s daily cash payment limit, allowing gold sellers to receive up to $6 million in cash per day, up from the previous $2 million.
The adjustment, the Ministry said in its announcement, is expected to provide greater flexibility for miners selling their gold to the Gold Board, particularly those operating in hinterland communities where access to banking services can be limited.
The Ministry, through the Guyana Gold Board, announced the revised limit on Wednesday, stating that payments exceeding $6 million will be made by cheque or electronic bank transfer.
The new arrangement is expected to benefit gold sellers accessing the Board’s services in Georgetown, Region Four (Demerara-Mahaica); Bartica and Puruni, Region Seven (Cuyuni-Mazaruni); Port Kaituma, Region One (Barima-Waini); Mahdia, Region Eight (Potaro-Siparuni); and Marudi, Region Nine (Upper Takutu-Upper Essequibo).
Natural Resources Minister Vickram Bharrat outlined the proposed adjustment in February 2026 during consideration of the 2026 Budget Estimates in the National Assembly. At the time, he explained that the higher cash payment limit was intended to make transactions easier for miners, especially those operating in remote areas where banking facilities are not readily available.
The measure, he had said, is part of the Government’s efforts to improve services to miners, strengthen compliance and encourage greater gold declarations through the formal sector.
During the February parliamentary discussions, Bharrat also disclosed plans by the Guyana Gold Board to introduce mobile gold purchasing services in several mining districts, bringing its operations closer to miners in remote locations.
Areas identified for the proposed mobile purchasing initiative included Papisho, Tamaki, Isano and the Fourteen Miles area. The Minister had also indicated that the increased cash limit was intended to address the operational needs of miners, many of whom rely on proceeds from gold sales to meet their business expenses.
The adjustment comes against the backdrop of increased gold declarations by small- and medium-scale miners. Bharrat reported that this category of miners declared approximately 317,000 ounces of gold in 2025.
He also highlighted a record monthly declaration of 81,000 ounces in December, despite the traditionally shorter mining period during the holiday season. Additionally, the Guyana Gold Board recorded purchases of 195,000 ounces for the first time, which the Minister described as a milestone for the institution.
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