Thursday, January 28, 2010
New steps are being taken by Guyanas Government to stop the smuggling of gold. The government has announced plans to recruit 200 employees at the country's Gold Board to better monitor mining activities.
The law demands that all gold produced in the country must be declared to the authorities and sold to the board. However, reliable estimates indicate that only about 50% of the gold produced goes through this process, according to President Bharrat Jagdeo.
Gold mining, is Guyana's third largest earner of foreign exchange.
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