Mining declarations up by 25,000 ounces in 1st half of 2026

…Bharrat attributes increase to crackdown on illegal mining

The Guyana Government’s efforts to streamline the mining industry and crack down on illegal activities have yielded results, with gold declarations increasing by 25,000 ounces during the first six months of this year. Natural Resources Minister Vickram Bharrat made this revelation during an appearance on the recent episode of the Starting Point podcast.
“I’m happy to say that in 2026, we have reached our budgeted target of gold declaration for the half-year period… I think it’s 233,000 ounces. We have reached that target, which is about 25,000 ounces more than last year from the same period,” the Minister indicated. According to Bharrat, the industry had not recorded such outstanding performance since 2016, when large companies such as the Guyana Gold Fields and Troy Resources were actively operating here. Since then, there had been a dip in declaration until 2024, when a slight increase was recorded compared to the previous year. In 2025, there was an increase of some 52,000 ounces in production for the entire year.
The Natural Resources Minister noted that, “…last year, ending of June, we were 25,000 below what we have now. Right now, we’re close to 240,000 ounces that has been declared over this period of time. Mind you, the weather conditions [were] not favourable to us.”

Zero-tolerance & illegal mining
Nevertheless, Minister Bharrat attributed this mid-year increase in gold declarations to the Government’s serious crackdown, which heightened earlier this year, on miners and mining companies that did no or limited declarations last year.
“We had caused not to renew some of their licences and permits,” the Natural Resources Minister stated. “We had to blacklist some of the non-nationals, whose declarations were very low or non-existent. They cannot come back in the country and engage in the mining sector. And we have been on a serious campaign since then – a zero-tolerance approach to illegal activities in the mining sector.”
Only last month, the Natural Resources Ministry seized more than 15 pieces of mining equipment, including engines, excavators and pumps after errant miners in the North-West District (NWD) area in Region One (Barima-Waini) failed to adhere to proper mining practices. This was followed by the Ministry, through the Guyana Geology and Mines Commission (GGMC), shutting down six illegal operations within the Mazaruni Mining District in Region Seven (Cuyuni-Mazaruni) in June. The six illegal mining sites were operating within a quarry area, leading to the arrest of 38 people. Several pieces of equipment and machinery used to support the unlawful activities were also seized.

Hefty fine
According to Bharrat, those who want to recover the seized equipment would have to pay a hefty fine.
“I can tell you, the fine is not an easy fine… If we find you’re mining illegally, we will seize your equipment because you’re engaging in illegal activities.  You want it back, you will pay a fine. We will quantify the amount of gold that you produce. And based on that, you will be fined. And worse yet, if you have not been selling the gold to a [legal] buyer, you may face even further prosecution. So, we have been on this serious campaign. And I think because of this, we are seeing the results now. We are, for the first time in about nine years, that we have actually reached our half-year budgeted target,” the Natural Resources Minister stated. In fact, backed by significant investments in the mining sector and strengthened Government efforts to curb unlawful practices, the Guyana Government expects gold declarations to rise to 510,450 ounces this year.

National mining company
Meanwhile, as the mining industry continues to see improved performance, the Guyana Government is looking to ensure that locals, especially small- and medium-scale miners, benefit. Just last month, President Dr Irfaan Ali announced plans to set up a national mining company – comprising small, medium and large Guyanese miners – to take up large-scale opportunities in Guyana.
“We’re going to come together, create a consortium, buy the best technology, do all of the technical work and move towards creating a world-class mining company owned by Guyanese, built by Guyanese, in which every citizen [within the mining sector is involved],” Ali stated. This, the President explained, will broaden financial participation and access to various mechanisms for many Guyanese, thus enabling financial inclusion at every level. He added that it will also ensure that Guyanese retain ownership of the opportunities within the local mining sector.
“Instead of having large miners from around the world taking up the large-scale opportunity, we’re going to come together…[and develop the] national mining company that involves all of the large, medium, and small-sized miners and every Guyanese family,” he stated. For years, foreign companies from around the world have been coming to Guyana and taking up large-scale mining. In Region Seven – one of the country’s main mining districts – Aurora Gold Mine (AGM) Inc, which is the only large-scale operating gold mine in Guyana, has been acquired by China-based Zijin Mining. Across the Cuyuni-Mazaruni region, there are currently some 2524 active mining properties.
In 2025, small- and medium-sized miners declared approximately 94,000 ounces of gold. This is in addition to the 165,000-ounce declaration made by the Chinese-owned large-scale gold operator. Currently, the Oko West Gold Project in Region Seven is being built out by a Canadian-based gold mining company, G Mining Ventures (GMIN). The Oko West Gold Project is currently in its construction phase, with the company aiming to complete these works by the third quarter of 2027 before transitioning into full-scale operations with a production target of 350,000 ounces of gold annually.
However, the introduction of the national mining company in Guyana could see local stakeholders being actively involved in similar large-scale operations. Previously, the Guyana Government had approached the Guyana Gold and Diamond Miners Association (GGDMA) for them to explore putting together a local consortium to take over the abandoned Troy Resources large-scale operations in Region Seven.
The Australian-based mining company had ceased operations here in 2023, and the Government subsequently terminated their licence, taking over ownership of the abandoned mining property. With the closure of the Troy Resources operation, a portion of the previously licensed area was subdivided into 27-acre parcels and allocated to local small miners under a structured arrangement. Nearly 100 small miners are currently operating in that area.