Gold Trading Licences: Noncompliance by 17 Feb will face actions
The Ministry of Natural Resources and Environmental Conservation has notified gold shop owners to obtain a gold trading licence by 17 February 2025, warning that failure to do so will result in legal action.
The ministry stated that those who run gold transaction service businesses must comply with rules and regulations following Notification 055/2024 released on 25 October 2024.
Entities that fail to obtain a licence within the set timeframe and conduct gold transactions without adhering to reference prices will face actions under Section 5 of the Essential Supplies and Services Law.
The Mineral (Gold) Reference Price Determination Committee issues daily gold reference prices for a tical of pure gold (16.329325 grammes) with 19.25 grammes of the density of gold starting from 6 December through MRTV, MWD, Myanmar Radio and website of the MoNREC (www.mining.gov.mm) and Facebook page of YGEA. — NN/KK
