Guyana to choke Venezuelan gold smuggling from financing Maduro’s government

Last Updated on Saturday, 28 June 2025, 12:19 by Writer

President Irfaan Ali on Friday said Guyana has taken steps to block Venezuelan gold from being smuggled into the country to help finance the Nicholás Maduro-led administration.

Dr Ali said the Guyana government earlier on Friday 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.

Demerara Waves Online News was reliably informed that the state-owned Corporación Venezolana de Guayana’s subsidiary mining company, MINERVEN, is responsible for mining gold and smuggling that precious yellow metal to neighbouring South American countries to earn much-needed foreign exchange for its faltered economy.

Guyanese authorities had long suspected that Venezuelan gold was being smuggled across the border and sold to Guyanese at lower than world market price in U.S. dollars. One suspicion was that that gold was being declared by local miners to the Guyana Gold Board or smuggled out to other countries.

U.S. Ambassador to Guyana Nicole Theriot, in her remarks, hailed the military and security cooperation with Guyana as the “one powerful” and the “strongest it’s ever been.” She said this year, the U.S. has expanded its law enforcement partnership as well, with knowledge exchanges and joint activities involving the New York Police Department, Federal Bureau of Investigations, and Drug Enforcement Administration (DEA) “working hand-in-hand” with the Guyana Defence Force, Guyana Police Force, Customs Anti-Narcotics Unit (CANU) and the Special Organised Crime Unit. “Our agencies work incredibly well together, highlighted by the DEA-CANU seizure of thousands of kilos of illegal drugs in August. Joint operations like these strengthen our collective security and make Guyana a regional leader and a stabilizing force in South America and the Caribbean,” she said.