Latest update November 1st, 2026 10:45 AM
GGMC allays concerns over safe with seized gold, diamonds
…says facility being managed in accordance with law
Kaieteur News- The Guyana Geology and Mines Commission (GGMC) has allayed concerns over possible misuse of the contents of a safe, containing diamonds and gold, seized by the agency, saying that it is being managed in accordance with the legislation.
This was explained by Permanent Secretary of the Ministry of Natural Resources (MNR), Joslyn Mckenzie during a recent news conference. Commissioner of the GGMC, Newell Dennison was invited by this newspaper to say how government manages the minerals confiscated and how much has been seized to date. The existence of a safe, containing minerals that were seized, was highlighted in a book by former Minister of Natural Resources, Raphael Trotman, who also shared concerns about the gold sector.
Commissioner of the GGMC, Newell Dennison
In his book, From Destiny to Prosperity Trotman said, “Of these (agencies) coming under the new MNR, the GGMC was perhaps the most difficult to oversee, as it functioned almost with a mind of its own. Many decades of doing its own thing, and with a big purse of resources, was reflective of the overall corporate attitude of independence. Under it, came the petroleum department, and also, minerals, sand and aggregates.”
He continued, “When I became Minister, I heard that there was a safe containing a large quantity of diamonds and gold that had been seized over time and under the control of a few GGMC officers. I never made an attempt to verily its contents, or to take control of it. Similarly, no invitation was ever extended to me to see the safe.”
According to him, the senior officers and staff were very capable, “but suspicious of, and marginally resistant to change”. He also explained that there were always rumours of impropriety of officers, especially those in the fields, but no hard proof or evidence was ever presented to him.
Trotman said that on one occasion an old school friend visited his office and cried in frustration about the ‘runaround’ he was getting at GGMC. Trotman said he was told, “Raphael, I can’t afford to pay the two thousand US for your signature”.
It was then that he made the shocking revelation that documents he routinely signed attracted a hefty price tag by GGMC officers. To this end, he said, “I immediately called Mr. Dennison and threatened to call in the police if he did not address the matter immediately. That was the last I heard of it.”
Former Minister of Natural Resources, Raphael Trotman
Meanwhile, in addressing questions about the safe containing the gold and diamonds, Dennison said that these are accounted for in GGMC’s financials. He explained, “Those are reported on in our financials and just recently we have actually handed over, well sold to the Gold Board all of the main stock of gold that we have. I can’t say off hand how much it is but we sold it off, we would collect our revenues from that and we will also have kept what the history of those pieces of gold are related to.”
The GGMC Commissioner noted that if a matter is before the Court, the agency would keep a record of how much minerals is involved. He could not state the exact quantity of gold and diamonds being kept in the safe, but assured that it was not a large amount.
Dennison also indicated that while gold has been sold to the Gold Board, the GGMC still has diamonds to liquidate but this would be done when the price increases.
Meanwhile, Permanent Secretary of the MNR, Joslyn Mckenzie, added that the seizure of metals is conducted in accordance with the GGMC Act and the Financial Regulations. To this end, he pointed out that at the end of any Court matter, if it is decided that the gold must be returned to the interested party with the necessary royalty, it is done. On the other hand, if investigations by the GGMC determine that interested parties “do not deserve to get the metal” then it is sold to the Guyana Gold Board.
He added, “I can assure you there’s no massive safe with any such metals, just the small infractions that persons would have done.”
(GGMC allays concerns over safe with seized gold, diamonds)
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