Guyana Gold Declarations Near $955 Million in First Half of 2026
Guyana · Mining
Key Facts
—Record half-year declarations Guyana declared nearly 240,000 ounces of gold in the first half of 2026, meeting the budgeted target for the first time in about nine years.
—Driving non-oil export growth Gold exports rose 63.4% to US$1.6 billion in 2025, and non-oil exports are projected to increase another 8.6% to US$2.5 billion in 2026, led by gold and bauxite.
—Formalization boosts compliance Mandatory local bank accounts, compulsory record updates, and intensified audits are shifting declarations from informal channels to official figures, reducing leakages.
—ASM sector dominance Artisanal and small-scale mining accounts for over 70% of production and directly employed more than 20,000 people in 2025, up from 13,681 in 2020.
—Oil-plus-gold economic boom Gold is Guyana’s most important mineral export after oil, with the non-oil economy projected to grow 10.8% in 2026, supporting construction and services.
Guyana’s gold declarations climbed to nearly 240,000 ounces in the first half of 2026, putting the sector on track to meet an ambitious annual target as a government crackdown on smuggling channels more production into the formal economy.
Declarations hit a nine-year milestone
Natural Resources Minister Vickram Bharrat confirmed that declared gold output reached the budgeted target for the first half of the year. “I think it’s 233,000 ounces… about 25,000 ounces more than last year from the same period,” he said, adding that “Right now, we’re close to 240,000 ounces.” Government and party messaging underscored that this marks the first time in roughly nine years the half-year budgeted target has been met.
The strong mid-year performance follows a steady climb in annual declarations: 432,113 ounces in 2023, 434,067 ounces in 2024, and 484,321 ounces in 2025. The full-year 2026 target is 510,450 ounces. With an average projected gold price of US$3,575 per troy ounce for 2026, hitting the annual goal would imply a declared production value well above US$1.8 billion.
The informal-to-formal shift accelerates
Finance Minister Ashni Singh outlined a package of formalization measures designed to improve traceability and reward compliance. These include mandatory local bank accounts for all miners and stakeholders, compulsory updates of personal records, and intensified audits across declarants. The government explicitly links these efforts to reducing leakages and improving declarations in 2026.
Why this matters for residents and investors
For Guyanese residents, the formalization drive translates into broader economic benefits. The gold sector directly employed more than 20,000 persons in 2025, up sharply from 13,681 in 2020. Higher official declarations mean more tax revenue for public services and cash grants, while compliant small and medium-scale miners gain better access to finance and legitimate supply chains. Four Canadian companies now hold projects in Guyana with a combined resource estimate of 14.6 million ounces of gold under development, signaling long-term investment confidence.
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Frequently Asked Questions
How much gold did Guyana declare in the first half of 2026?
Guyana declared nearly 240,000 ounces of gold in the first half of 2026, roughly 25,000 ounces more than the same period in 2025 and meeting the half-year budgeted target for the first time in about nine years.
What is driving the increase in official gold declarations?
A government crackdown on illegal gold mining and smuggling, combined with formalization measures such as mandatory local bank accounts, compulsory record updates, and intensified audits, is channeling more production through official declaration points like the Guyana Gold Board.
How important is gold to Guyana’s economy beyond oil?
Gold is Guyana’s most important mineral export after oil. Gold exports rose 63.4% to US$1.6 billion in 2025. The sector also directly employs over 20,000 people and supports non-oil activities such as construction and services, contributing to a projected 10.8% growth in the non-oil economy for 2026.
Sources: Mining declarations up by 25,000 ounces in 1st half of 2026, Guyana misses 2025 gold target, measures identified to increase declarations this year, Tax relief, infrastructure spending to drive mining growth in 2026, Guyana sets 2026 gold declaration target at 510,450 ounces, Gov’t projects 16.2% growth in 2026, Guyana is on track for a strong year in gold production
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