The government of Suriname is advancing plans to create a dedicated Gold Board to strengthen oversight of the country's gold mining industry.
President Jennifer Simons stated that the new regulatory body is intended to increase transparency, raise state revenues, and improve control over small-scale mining operations, which remain a significant but often informal part of the economy.
The initiative reflects a broader push by resource-rich nations to formalize artisanal and small-scale gold mining (ASGM) sectors.
By establishing a centralized authority, Suriname seeks to capture more value from its gold production while addressing longstanding issues related to unregulated extraction and environmental impact.
This development in Suriname comes as other regional producers grapple with similar regulatory challenges.
In Ghana, for instance, the Bank of Ghana recently ceased financial support for its own Gold Board, forcing the regulatory body to seek alternative funding sources.