Opening the 2026 Budget Debates this afternoon, Member of Parliament for the We Invest In Nationhood party, (WIN), Dr. Andre Lewis, questioned the Government’s 2025 gold declarations, saying that his party suspects that the numbers were inflated to show that the sector is doing well.
Last Monday, Finance Minister, Dr. Ashni Singh in his Budget presentation, reported that the gold mining industry expanded by 11.6%, with total gold declarations reaching 484,321 ounces last year.
But the WIN MP today said a significant portion of Guyana’s gold is being smuggled, and it is believed that the numbers announced by the Finance Minister do not represent a true reflection of the industry in its current state.
“Mr. Speaker, we are aware that there is a common practice by the government of the day to inflate numbers. In fact, we hear of reports from miners and dealers that they are being asked to inflate their declaration, so this raises questions of whether the 2025 gold declarations are actually accurate,” Lewis questions.
Dr. Lewis said the country’s current issue with foreign exchange is testament that the gold sector has not been doing well.
He urged that more be done to ensure that the industry remains sustainable.
“Mr. Speaker is this gold is secured and the revenue is properly managed; we would see a drastic reduction in the cost of living of Guyanese. It would provide immense relief to all Guyanese. Mr. Speaker, we call for immediate and enhanced border protection, the government must take the necessary preventative measures to protect our borders and to protect our indigenous communities. We cannot allow our gold to build other nations and individuals while people suffer right here in Guyana,” Dr. Lewis noted.
Dr. Lewis said if indeed 484,000 ounces of gold was declared last year, then the country’s small and medium scale miners have declared more than 75% of that, while large foreign mining companies declared less.
“These miners are the lifeblood of our interior, yet they are being undermined by illegal leaches. Mr. Speaker Zijin company is another Chinese owned company which continues to benefit from Guyana’s wealth as they underpay Guyanese who are subject to work under certain terrible conditions while causing excessive land damage, deforestation and pollution,” Dr. Lewis stated.
He also called on the Government to find ways to stabilize the foreign currency market.
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