Compliance is opportunity

The Government of Guyana has renewed its call for miners to declare their gold and operate in strict accordance with established laws and regulations. This initiative, underscored by President Dr Irfaan Ali during his recent engagement with small miners at Puruni Landing in Region Seven (Cuyuni-Mazaruni), reflects a strategic vision aimed at strengthening the mining sector, enhancing financial inclusion, and fostering sustainable growth. The approach is neither punitive nor restrictive; rather, it is a clear pathway for miners to translate their labour into tangible economic benefits.
At the core of this policy is the principle that formal compliance unlocks opportunity, and by declaring gold production, miners create verifiable records of income, which can then be leveraged to access financial services such as loans. As President Ali highlighted, declaration slips are more than bureaucratic instruments; they are tools that enable miners to secure capital to expand operations. For example, a miner producing 100 ounces of gold annually can use documented income to obtain financing for essential equipment like excavators, reducing reliance on informal credit arrangements that often entail high costs and loss of autonomy. This structural shift empowers individual miners but also strengthens the sector as a whole by formalising its financial footprint.
The Government’s focus extends beyond gold declaration to operational compliance. Registration of mining operations is a key component, ensuring that miners are visible within the system. This visibility enables targeted support, facilitates land allocation, and provides access to technical assistance. A registered and compliant operation demonstrates a track record of growth and responsible management, which positions miners to benefit more fully from Government programmes and opportunities for land acquisition. By embedding miners within a formal framework, the state fosters an environment where productivity and accountability reinforce one another.
Financial inclusion is another pillar of the Government’s strategy, and President Ali emphasised the importance of miners maintaining bank accounts, with teams deployed to mining areas to streamline the account-opening process. This initiative simplifies transactions as well as integrates miners into the formal economy, providing greater security for earnings and enabling access to additional financial services. By encouraging both domestic and foreign operators to secure digital IDs and enter the system, the Government ensures that the sector operates transparently, fostering confidence among stakeholders and potential investors.
Complementing these regulatory measures are targeted fiscal incentives introduced in Budget 2026. Minister of Natural Resources Vickram Bharrat highlighted measures such as the reduction of duties on essential vehicles and equipment used in mining. For example, duty on 2000cc four-door pick-ups has been capped at $2 million, representing substantial savings for operators. Similarly, ATVs, widely used in mining operations, will now attract no duty, lowering the cost of mobility and operational efficiency. Such incentives are designed to make compliance both practical and financially advantageous, signalling the Government’s commitment to enabling growth rather than imposing barriers.
The benefits of these policies are already reflected in national gold declaration statistics. Total declarations rose to 484,321 ounces in 2025, up from 434,067 ounces in 2024, with expectations to reach 510,450 ounces in the current year. These gains indicate that the sector is responding positively to structured engagement and that compliance translates into measurable results for the country’s economy. As production and documentation increase, miners gain credibility, banks gain assurance, and the national economy gains a stronger foundation for investment and development.
By creating a system where miners’ efforts are documented, supported, and financially recognised, Guyana is transforming the mining sector into a more sustainable and productive industry. Compliance enables access to financing, land, equipment, and technical support, while fiscal measures reduce operational costs. Together, these initiatives enhance efficiency, promote legal adherence, and encourage responsible resource management.
The call for gold declaration and compliance is an effort to empower miners and strengthen the nation’s economic base. By formalising operations, facilitating financial inclusion, and providing targeted incentives, the Government is ensuring that mining in Guyana becomes a vehicle for sustainable growth, improved livelihoods, and national development. This period of regularisation is an opportunity for miners to secure their financial futures, grow their enterprises, and contribute to a more prosperous and structured mining sector. Compliance, in this context, is the foundation for long-term opportunity.