Guyanese President Dr Irfaan Ali
June 28, 2025
GEORGETOWN, Guyana (CMC) – The government of Guyana has taken steps to block Venezuelan gold from being smuggled into the country to help finance the Nicolas Maduro-led administration.
According to President Dr Irfaan Ali, on Friday, the Guyana government reminded “all of its partners” about the serious threat that was being posed by Venezuela’s smuggling of gold.
“We’ve received that advisory today and we want you to know that we’re putting enormous resources into ensuring that the threat of illicit gold smuggling that can help to empower or safeguard undemocratic forces are uprooted with our partnership,” he told an American embassy reception to mark the United States’ (US) 249th Independence anniversary.
According to Demerara Waves Online News, the state-owned Corporación Venezolana de Guayana’s subsidiary mining company, MINERVEN, is responsible for mining gold and smuggling it into neighbouring South American countries to earn much-needed foreign exchange for the faltering economy.
The authorities in Guyana had long suspected that Venezuelan gold was being smuggled across the border and sold to Guyanese at a lower price than the world market price in US dollars.
One suspicion was that gold was being declared by local miners to the Guyana Gold Board or smuggled out to other countries.
US Ambassador to Guyana, Nicole Theriot, in her remarks, hailed the military and security cooperation with Guyana as “powerful” and the “strongest it’s ever been.”