Minister Manuari says gold licence reforms will boost transparency, oversight and national benefits
MINISTER for Mines, Energy and Rural Electrification (MMERE), Derick Manuari has clarified that the Government’s decision regarding Gold Dealer Licences (GDLs) forms part of a broader reform programme.
The Mines Minister said the decision has already received Caucus endorsement and is now progressing through the necessary legal and administrative processes.
Responding to recent comments by the Leader of Opposition, Minister Manuari said there is nothing misleading about the Government’s position.
Minister Manuari emphasised that due process is being followed and that the cancellation of licences is only one component of a wider transition aimed at reforming and strengthening governance of the gold sector.
“This is not simply about cancelling licences. The Government is implementing a comprehensive transition from the existing Gold Dealer Licensing regime to a new framework that will provide greater transparency, accountability, oversight and national benefit from our gold resources,” Minister Manuari said.
He explained that Caucus has already endorsed the policy direction to transition away from the current Gold Dealer Licensing framework.
The Mines Minister adds necessary reforms also support the establishment of a State-Owned Holding Company (SOHC) that will facilitate Government participation, investment, oversight and strategic management of the sector.
“The cancellation of existing licences is the final step in a process that includes due diligence reviews, legal requirements, transitional arrangements, and the establishment of a stronger regulatory and commercial framework for the sector,” he said.
The Minister further clarified that since taking office, no new Gold Dealer Licences have been issued.
He said of the almost 40 licences previously issued, only 10 remain active.
Minister Manuari said all other licences are currently undergoing compliance reviews and due diligence processes as part of the Government’s reform programme.
“The Mines Division is undertaking comprehensive compliance assessments of all active licence holders. These reviews are necessary to ensure accountability and to address longstanding mismanagement that have undermined effective regulation of the sector,” Minister Manuari said.
He noted that compliance reviews have revealed significant challenges, including difficulties in verifying the origin of gold, monitoring export volumes and values, obtaining records for compliance purposes, and ensuring adherence to statutory reporting obligations.
“The current licensing framework has exposed Government to potential revenue leakage, under-reporting, illicit trading risks and broader governance concerns. These are issues that this Government is determined to address through meaningful reform,” Minister Manuari added.
“Absence of political will by successive government’s to reform and strengthen governance in the sector has resulted in a lot of mess that we are now trying to sort out, and of all people, the Opposition Leader should know better.”
PRESS RELEASE
