Gold sector ‘resurrected’ – Min. Bharrat

Feb 05, 2026 News

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…as declarations rise by 52,000 ounces since 2024

(Kaieteur News) – With Guyana’s gold declarations rebounding in 2024 and 2025, rising by a combined 52,208 ounces after years of decline, Minister of Natural Resources Vickram Bharrat on Tuesday night rejected opposition claims about the performance of the sector, arguing that the industry has been resurrected under the PPP government.

With the price of gold recently crossing the US$5,000-per-ounce mark, Minister Bharrat in his budget debate presentation questioned the renewed focus on the sector by opposition speakers. “I have never heard so much emphasis and so much excitement over the gold sector, like 2026 and I wonder why there is so much excitement of the gold sector. I wonder why there is so much excitement and comments over the gold sector today. Maybe it is because the honorable opposition leader…maybe it’s because the gold price is high, or probably it is because of the prudent management of the sector,” he said.

The minister noted that the sector is seeing renewed interest, with miners returning as opportunities improve. “Since we took office in 2020, to date, over 1,000 small Guyanese miners have benefited from the access to land and the accessibility to the land through the expenditure of over 10 billion Guyana dollars on hinterland infrastructure to ensure that our roadways are safe,” Bharrat disclosed.

After years of decline, Guyana’s gold sector recorded a nominal increase in 2024, with declarations rising by 1,954 ounces from 432,113 ounces in 2023 to 434,067 ounces. In 2025, declarations rose by 50,254 ounces to reach 484,321 ounces. Last year, declarations from licensed gold dealers declined by 21.5 percent in 2025 to 121,883 ounces. However, declarations from the country’s lone large-scale producer, Zijin Mining Group Co. Ltd, operating through its subsidiary Aurora Gold Mine (AGM), increased by 15.5 percent to 167,005 ounces and declarations to the Guyana Gold Board (GGB) also rose by 45.6 percent to 195,432 ounces.

For 2026, the government has projecting declarations of 510,450 ounces as mining activity accelerates across all operator categories. Notably, between 2019 and 2023, Guyana’s gold declarations had declined by approximately 209,000 troy ounces, according to Bank of Guyana annual reports.

During day one of the Budget debates, We Invest in Nationhood (WIN) Member of Parliament (MP) Dr Andre Lewis raised concerns about the reliability of the declaration figures, suggesting the government may be inflating the numbers to give the impression of the sector performing. He also called for stronger border protection to prevent Guyana’s gold from being taken elsewhere to benefit other nations.

Responding, Bharrat said the sector has undergone a revival. “It is sad and unfortunate that the honourable member Lewis will come to the parliament and speak about enforcement, compliance…in one breath he’s bashing the compliance and enforcement, and in another breath, he’s saying we need border controls, stronger border controls, because we don’t want the gold to be diverted,” Bharrat noted.

Further, addressing comments from A Partnership for National Unity (APNU) MP Sharma Solomon that gold production flourished under the APNU+AFC coalition government, the minister noted that the increased output during that period was the result of groundwork laid by the previous PPP administration. “You don’t come here and then boast about production figures increasing massively in 2016 and 2017. It is as a result of the work done by the People’s Progressive Party civic government,” Bharrat stated.

He further explained that large-scale mining projects require years of preparation before production begins. “It was in 2016 that is started production. So, what you did is just to reap the fruits of our labor, and you’re boasting today that it happened under the APNU, AFC,” the minister added.

Kaieteur News has previously reported that several major gold projects are expected to come onstream before the end of the decade. In fact, four Canadian companies currently hold projects with an estimated combined resource of 14.6 million ounces of gold that are currently being developed. With government expecting gold mining to remain a major anchor of Guyana’s non-oil economy over the next five years and beyond, the administration has been cracking down on illegal mining. Some recent moves by the authorities including the mandatory local bank account requirements and compulsory updates of personal records for all miners and stakeholders and other measures to curb unlawful practices that weaken declarations, and intensify accountability across mining operations.

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• gold sector, Guyana Gold, Vickram Bharrat, We Invest in Nationhood

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