Gold shops without applying for business licenses must be closed

Gold shops that do not apply for relevant licenses but operate mineral (gold) trading must be closed, an official of No. 2 Mining Enterprise, Ministry of Natural Resources and Environmental Conservation, said.
 
Field inspection will be conducted by the authorities concerned to check if there are gold shops that have not applied for relevant business licenses. If such a gold shop is open without applying for any business license, it must be closed and must apply for a business license within a week, the official said.
 
Initial inspection teams will provide assistance in applying for a license. Gold shops that have applied for a business license will be granted a business license in accordance with the notification on designating gold trading as an essential service under the law.
 
The Ministry of Natural Resources and Environmental Conservation has issued a notification that  those who operate mineral (gold) trading services have to apply for a license within three months from November 18, 2024 to February 17, 2025. Currently, the specified period of three months has expired, and until February 17, there had been a total of 4,758 license applications.
 
Applying for a license for gold trading business will result in that gold shops will be able to trade with peace of mind, and both sellers and buyers will have confidence in a stable and non-speculative gold market.
 
Therefore, the ministry has issued a notice urging those who operate gold trading services to apply for a business license in accordance with the law.