Close to 60% of Guyana’s gold smuggled overseas – Trotman

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Minister Raphael Trotman
Minister Raphael Trotman

Officials of the Federal Bureau of Investigation (FBI) and Homeland Security from the United States of America visited Guyana a few weeks ago and briefed top officials, including Minister of Public Security Khemraj Ramjattan, about gold smuggling from Guyana.

According to Minister of Natural Resources Raphael Trotman, it was estimated that approximately 15,000 ounces of the precious metal was smuggled overseas weekly.

Trotman said 50 to 60% of local production is lost to smuggling. “Indicators are that the gold is going to Brazil. It is going over the borders to Suriname, not to stay in Suriname but to go to Europe. It is being landed at Miami International Airport. It is being landed at John F. Kennedy and it is going to the Middle East,” he told reporters.

It was clarified that a percentage of the smuggled gold originates from Colombia, Brazil and Venezuela, “passing through what could be weak or porous systems.”

The lead agency for investigating the smuggling is the Guyana Police Force which is being supported by the recently formed Anti-Gold Smuggling Task Force headed by Minister Trotman, and the Special Organised Crime Unit (SOCU).

Asked about reasons for the illicit trade, Minister Trotman proffered that some of it had to do with a better price being offered overseas, but also with “hiding income from government to avoid taxes altogether”.

Trotman surmised that some may be using this method as a means of laundering money from ill – gotten gains, “so lowering the royalty, from the research we have, will not automatically lead to substantial higher declarations”.

While admitting that several business operators are curently under investigation, Minister Trotman declined to name them. “If there are any persons of interest neither myself or any other minister will disclose who those persons are,” he said.

The Ministry will be tightening its protocols with regards to gold exports which are being overseen by officials of the Guyana Gold Board and the Guyana Revenue Authority. Gold exports topped 451,000 ounces in declarations, in 2015.

3 COMMENTS

  1. MADM/ this in not anything new only that it wasn’t made public before all these things were swept under the carpet before May 11 last year but some of you just playing dum even though it was in plain sight for every one to see.

  2. Close to 60% of Guyana’s gold smuggled overseas – Trotman
    Dem clown dis are told to repeat after massa.
    Just like how dem de saying PPP ministers teef mo money that their budget estimates in some cases twice the amount.

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