Nearly US$1B earned from gold in 2024 as large-scale producers restart, expand operations

Guyana recorded a sizeable increase in gold production last year, with Minister of Natural Resources Vickram Bharrat revealing that gold brought in earnings to the tune of US$989 million in 2024 – an increase of over US$180 million.

During his end-of-year press conference today, Minister of Natural Resources Vickram Bharrat gave an update on how the gold mining sector performed last year.

According to Bharrat, both production and declaration of gold increased in 2024 compared to the previous year, with total earnings in 2024 amounting to US$989.9 million.

Bharrat described this as a very encouraging sign, with a number of key stakeholders either expanding or restarting their mining operations.

In addition, there are gold producers like Canadian company Reunion Gold which are gearing up to begin their mining journey here.

Meanwhile, increases were also seen in the Bauxite sector, with the Minister revealing that 1.7 million tonnes of bauxite were produced last year.

Bharrat also revealed massive increases in the quarrying sector in 2024, compared to 2023, amid the construction boom taking place across Guyana.

For instance, in 2024, 3.3 million metric tonnes of stone aggregates were produced, compared to 1.8 million tonnes in 2023. In 2020, when the PPP/C government first entered office, this was just 737,000 tonnes.