Natural Resources Minister Vickram Bharrat announced that Guyana’s gold sector has achieved its half-year declaration target for the first time in nearly nine years. During an appearance on the Starting Point podcast, Bharrat revealed that gold declarations for the first six months of 2026 reached approximately 233,000 ounces, which is about 25,000 ounces more than the same period in the previous year.
Bharrat expressed satisfaction with the sector’s performance, stating, “I’m happy to say that in 2026, we have reached our budgeted target of gold declaration for the half-year period.” He noted that declarations are now nearing 240,000 ounces, despite facing adverse weather conditions.
The Minister highlighted that the sector has not seen such strong performance since 2016, when major companies like Guyana Goldfields and Troy Resources were still operational in the country. Following a decline in these operations, gold declarations fell for several years, with a slight increase recorded in 2024. In 2025, production rose by approximately 52,000 ounces for the entire year.
Bharrat attributed the recent improvement to the Government’s stricter measures against miners and mining companies that had low or no declarations last year. He mentioned that some licenses and permits were not renewed, stating, “We had caused not to renew some of their licences and permits.” Additionally, non-nationals with minimal or no declarations were blacklisted from returning to work in the mining sector.
The Government has been actively pursuing a zero-tolerance policy against illegal mining. Last month, the Natural Resources Ministry confiscated over 15 pieces of mining equipment in the North-West District of Region One due to non-compliance with proper mining practices. This equipment included engines, excavators, and pumps.
In June, the Ministry, through the Guyana Geology and Mines Commission, shut down six illegal mining operations in the Mazaruni Mining District in Region Seven, which were reportedly operating within a quarry area. Thirty-eight individuals were arrested, and several pieces of machinery used in these illegal activities were seized.
Bharrat warned that miners found operating illegally would face significant penalties if they wish to reclaim their equipment. He stated, “If we find you’re mining illegally, we will seize your equipment because you’re engaging in illegal activities.” Authorities will estimate the amount of gold produced to determine the fines imposed.
Furthermore, miners who do not sell gold to legal buyers could face additional prosecution. Bharrat noted that the enforcement campaign is yielding results, and with enhanced enforcement and ongoing investment in the sector, the Government anticipates gold declarations to reach 510,450 ounces this year.
Source: hgptv.com
