VI News Staff 9 months ago
VINStaff Verified #usnews

GEORGETOWN, Guyana (AP) — Guyana has pledged to crack down on gold smuggled across the border from neighboring Venezuela at the urging of the U.S. government.

GEORGETOWN, Guyana (AP) — Guyana has pledged to crack down on gold smuggled across the border from neighboring Venezuela at the urging of the U.S. government.

President Irfaan Ali said late Friday that the government of the South American country is dedicating “enormous resources” to thwart the smuggling, which has long been a problem. He said authorities have increased border patrols and improved monitoring in mining regions.

Local officials have said they suspect that Venezuelan-sanctioned gold is being mixed with gold mined in Guyana and then passed off as local production and sold to markets in the U.S., Canada, the Middle East and elsewhere.

In 2021, the Royal Canadian Mint suspended gold purchases from a major export company in Guyana because officials suspected some shipments had been mixed with Venezuelan gold, an allegation the company denied.

Meanwhile, the U.S. Embassy in Guyana has suspended the visas of several miners suspected of smuggling Venezuelan gold overseas.

Gold is Guyana’s second most important export after oil, generating nearly $1 billion last year. Some 434,000 ounces of gold were produced last year, up from 432,000 ounces the previous year, according to the Ministry of Natural Resources. It noted that up to 50% of local gold production is smuggled out of Guyana.

U.S. VIRGIN ISLANDS WEATHER

Education: Deadline for input on child abuse and neglect policy is Fri...

VI News Staff
1 year ago

Gittens Fires Back at Governor, Demands Transparency on Spending

VI News Staff
1 year ago

Emile Soleil murder suspect family’s Catholic priest, 85, ‘committed s...

VI News Staff
1 year ago

Board of Elections Chairman Chastises Member for Casting Doubt on Voti...

VI News Staff
3 years ago

Education Commissioner Shares Vision for New Schools, Plan to Address...

VI News Staff
3 years ago