The Federal Bureau of Investigation (FBI) and the United States Home Land Security will be working with security officials in Guyana as they investigate the matters surrounding the weekly exportation of 15,000 ounces of illegal gold.
Natural Resources Minister, Raphael Trotman made the disclosure at a press conference on Wednesday, stating that local law enforcement officials and related agencies were working constantly to tighten all the loopholes through which the precious metal is being smuggled.
He said 50 to 60 per cent of local production is lost to smuggling, and a percentage of the smuggled gold originates from Colombia, Brazil and Venezuela, “passing through what could be weak or porous systems”.
Trotman said he believes the illegal trade has to do with a better price being offered overseas, but also with “hiding income from government to avoid taxes altogether”.
While admitting that several business operators are currently under investigation, he declined to name them.
