YANGON Gold Entrepreneurs Association (YGEA) stated that the Gold and Silver Standards Laboratory is accredited by the Directorate of Investment and Company Administration.
Yangon Gold and Silver Standards Laboratory Co Ltd was incorporated under the Myanmar Companies Law 2017 on 31 January 2025 as a Private Company Limited.
YGEA will ensure competent and consistent operations of the laboratory as per gold standards and will endeavour for the lab to hold accreditation of ISO-17025 that enables traceability of testing and calibration to international standards.
The Mineral (Gold) Reference Price Determination Committee set the pure gold reference prices at K5.47 million per tical (16.329325 grammes) with 19.25 grammes of the density of gold on 5 February. The figures show an increase of K120,000 per tical within two weeks.
The Ministry of Natural Resources and Environmental Conservation notified gold shop owners of seeking gem trading licences by 17 February 2025 and failing to obtain a licence will be subject to 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. Those entities will face actions under Section 5 of the Essential Supplies and Services Law if they fail to obtain a licence within the set timeframe and execute gold transactions without following reference prices, announced through State-run newspapers on 30 October 2024.
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, the MoNREC website www.mining.gov. mm and YGEA’s Facebook page. — NN/ KK
