Small and medium-sized gold miners in Reg. 7 earned $88B in revenues last year – Pres. Ali

Small and medium-sized gold miners in Region Seven (Cuyuni-Mazaruni) generated approximately $88 billion in revenue last year, President Dr Irfaan Ali revealed on Wednesday during his new podcast, ‘Tea on the Terrace’, filmed in Bartica.

He noted that the region accounted for 41 per cent of the country’s total gold production in 2025, with overall gold declarations reaching 484,321 ounces last year.

Of that amount, small and medium-scale miners in Region Seven alone declared just over 105,400 ounces.

“So, the small and medium-sized miners alone in Region 7 would have participated in a revenue generation of more than $88 billion,” the President said, noting that records show that there are about 1100 small miners and 190 medium-scale miners operating in the region.

Furthermore, he noted that these miners would have employed directly and indirectly more than 20,000 persons.

“They would have created opportunities for a major number of sectors: entertainment, restaurants, hotels, transportation, mechanical engineering services, banking, finance, insurance, machinery,” the President highlighted.

Beyond gold mining, he noted that in the last five years, ten new quarries began operating in the region, also generating hundreds of new jobs.

Additionally, in forestry, he said there are now 95 small concessions and 11 large concessions.

“…4.3 million acres of concession land. Generating, again, thousands of opportunities,” the President noted.

The Head of State emphasised that these groups will continue to benefit from sustained government investment aimed at strengthening and supporting their operations.

He reminded that over the last five years, the government invested more than $150 billion in Region Seven.

“This entire region has a population of about 20,000 residents. Just understand that,” he pointed out.

“Where did this money go? It went into natural resources and mining support, tens of billions of dollars, tens of billions of dollars in health care, billions of dollars, tens of billions of dollars in public works and roads, and billions of dollars in housing and human services. That is where the money went,” he emphasised.

“And what does it do? These are not just abstract numbers. They translate into service, service closer to home, low household costs, and stronger local economies. That is why you are seeing so many businesses mushrooming across Bartica. People have more disposable income. Their propensity to save increased because of all the cost-saving measures that we are providing.”