By: Antonio Dey | HGP Nightly News |
Member of Parliament for A Partnership for National Unity (APNU), Dr. Terrence Campbell, is calling on the Irfaan Ali–led administration to pay closer attention to what he describes as growing irregularities within Guyana’s gold sector, particularly in relation to gold pricing, declarations, and regulatory compliance.
Dr. Campbell’s comments follow a recent high-level meeting convened by the Ministry of Natural Resources in collaboration with the Guyana Gold and Diamond Miners Association (GGDMA), where concerns surrounding gold declarations and compliance were discussed.
In a statement issued after the meeting, the Ministry of Natural Resources announced that it will intensify regulatory scrutiny of all licensed gold dealers and traders. The ministry warned that dealers found facilitating undeclared gold transactions or failing to meet reporting obligations will face sanctions, including the suspension or revocation of licences. According to the ministry, the measures are intended to close loopholes that enable under-declaration and strengthen the integrity of Guyana’s gold supply chain.
Despite these assurances, Dr. Campbell argues that the government must go further. He pointed to what he described as a troubling disconnect between global gold prices and local declarations of gold.
“The price per ounce was US$2,388, but gold declarations fell from 641,000 ounces to 434,000 ounces,” Dr. Campbell stated, suggesting that weak oversight continues to undermine the sector.
The APNU parliamentarian accused the government of failing to exercise proper regulatory control over the gold industry, which he stressed remains one of Guyana’s most economically significant sectors.
“A lot of the players involved in gold smuggling are supporters of the PPP, and so the PPP turns a blind eye to what is happening in the gold sector. This sector is more economically important than sugar and bauxite,” Campbell contended.
In response to ongoing concerns, the Ministry of Natural Resources has announced plans to scale up field monitoring and enforcement across mining districts significantly. These operations, the ministry noted, will target unauthorised activities and ensure compliance with environmental, safety, and production reporting requirements.
Dr. Campbell maintains that without robust tracking systems, transparency, and political will, Guyana risks losing critical revenues from one of its most valuable natural resources.
