Crackdown on gold smuggling will intensify – Minister Bharrat

…applications for gold export licences to be reviewed this year

Urging persons with information on gold smuggling to come forward, Minister of Natural Resources, Vickram Bharrat, has assured that the crackdown on gold smuggling would not only continue, but be intensified this year.

The issue of gold smuggling made waves in Guyana last year after the United States Treasury Department had announced sanctions against local gold exporter Mohamed’s Enterprise. During a press conference to recap 2024, Minister Bharrat, touting the successes achieved in tackling gold smuggling,
also assured that efforts would be ramped up this year to address this issue, and encouraged anyone with information on gold smuggling to share it with the ministry.
“We’ve seen a few persons being held at the airport. At one point, I think they were taking out over 200,000 ounces of gold. So, we’ve intensified the operation, which is still ongoing. However, for obvious reasons, I would not go into too much details on the operation, but I can say to you the operation is ongoing, and it involves a number of agencies, including the Ministry of Natural Resources,” he declared.
“So that is an ongoing process, and will continue and intensify. We’ve been getting information, and we act on the information as we get them. And we encourage any Guyanese and any person with information (to) share it with us,” the minister explained.

Bharrat assured that the Ministry takes any information received very seriously, and moreover, relies on this information to do investigations. The invitation to provide information was even extended to the media.
“Sometimes it’s easy to say, ‘Oh, I know this,’ or, ‘I know that’, or, ‘I see this or that’; but if you don’t send it to us, then we can’t act on the information. It’s the same with policing. If people don’t share information (with the) police, they can’t do their work effectively. Even the media, if you have information and you want to share it with us privately, share it with us. I can assure you we will act on the information, because we’ve been acting on every piece of information we’ve been receiving over the last few years that forms whatever illegal activity there is within this sector.”
When it comes to licensing new gold exporters, Bharrat noted that only six were licensed last year, but that another round of licensing would be conducted sometime this year. He also took the opportunity to urge gold miners to sell their gold only to approved dealers or the Guyana Gold Board (GGB), reminding of the concessions available for them.
“For example, we have a programme where once you meet a certain target, there are duty free concessions on vehicles that will be used in the mining operation. Recently, the President has given further incentives, that if miners declare a certain amount and they have one dredge and excavator, then we can give concessions on parts coming in for that excavator or dredge,” he disclosed.
“We have those incentives now, once miners sell to the Guyana Gold Board. However, as I mentioned, there are also dealers. Last year, there were only six licensed dealers. This year, we’re in the process of renewing or accepting new applications,” the minister added.
Last year, Guyana recorded a sizeable increase in gold production, with Minister Bharrat also revealing that gold brought in total earnings of US$989.9 million in 2024 – an increase of over US$180 million. In addition to the earnings from gold, 434,000 ounces of gold were also declared.
In keeping with Section 8 of the Guyana Gold Board Act, it is illegal for any person to sell any gold to a goldsmith or jeweller, or for a goldsmith or jeweller to purchase any gold from any person/entity other than the Guyana Gold Board.
In June of last year, two US citizens and one Guyanese were intercepted with US$560,000 worth of raw gold at the Cheddi Jagan International Airport (CJIA) at Timehri. They were subsequently charged with the offence of exporting gold without a licence, in contravention of Section 8 of the Guyana Gold Board Act, Chapter 66:01, and contrary to section 23 (a) of the said Act.
These persons were placed on bail totalling $600,000, and were also charged under Guyana’s Anti-Money Laundering (AML) law. Further, in the sanctions against the Mohameds family and their associated businesses, the United States had alleged that some 10,000 kilograms of gold were smuggled out of this country between 2019 and 2023. (G3)