Gold Board increases daily cash payment limit to $6M

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.