Smuggling blights Guyana gold rush

South American country is losing a third of its gold revenue each year due to illegal trading.

    Guyana is losing tens of millions of dollars each year because of widespread gold smuggling, despite the fact that the precious metal now ranks second after agriculture in the revenue it generates for the South American country.

    Gold is worth almost $400m dollars a year to Guyana; stores are full of merchandise made with locally produced gold. The surge in the price of the metal has also led to billions of dollars in investment in the mining sector.

    Yet the country loses up to a third of its gold revenue as a result of smuggling. A World Wildlife Fund study estimates that tonnes of the country's gold are being moved illegally across the border into Suriname.

    Al Jazeera's Anand Naidoo reports from Georgetown, Guyana.

    SOURCE: Al Jazeera


    YOU MIGHT ALSO LIKE

    Interactive: Coding like a girl

    Interactive: Coding like a girl

    What obstacles do young women in technology have to overcome to achieve their dreams? Play this retro game to find out.

    Heron Gate mass eviction: 'We never expected this in Canada'

    Hundreds face mass eviction in Canada's capital

    About 150 homes in one of Ottawa's most diverse and affordable communities are expected to be torn down in coming months

    I remember the day … I designed the Nigerian flag

    I remember the day … I designed the Nigerian flag

    In 1959, a year before Nigeria's independence, a 23-year-old student helped colour the country's identity.