Gold sellers can now receive up to G$6 million in cash per day from the Guyana Gold Board, following a threefold increase in the Board’s daily cash payment limit.
The new limit, announced by the Guyana Gold Board in a public notice, replaces the previous G$2 million ceiling. Payments above G$6 million will continue to be made by cheque or electronic bank transfer.
The change means that sellers transacting larger quantities of gold through the Board can receive a greater portion of their payment in cash, rather than having to receive all amounts above the previous threshold through non-cash methods.
The Board is encouraging gold dealers and other sellers to conduct their transactions through its offices, highlighting transparent pricing, accurate weighing, gold purity testing and secure and confidential transactions as part of its service.
Its offices and locations are listed in Georgetown, Bartica, Port Kaituma, Marudi, Mahdia and Puruni, providing access to sellers in several gold-producing communities.
The increase comes as gold remains an important contributor to Guyana’s mining sector and foreign exchange earnings. The payment arrangement is particularly relevant to miners and dealers who regularly sell gold and depend on timely access to proceeds from their transactions.
However, the Board's notice does not explain the reason for the increase or indicate when the revised limit takes effect. It also does not clarify whether the G$6 million ceiling applies per seller, per transaction or across all transactions completed by an individual in one day.
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