Latest news with #IrfaanAli
Bloomberg
15-07-2025
- Business
- Bloomberg
Sanctioned Magnate Launches Outsider Bid to Lead Oil-Rich Guyana
A wealthy Guyanese businessman who is sanctioned by the US for alleged tax evasion on gold exports has officially entered the race to lead the oil-rich South American nation. Azruddin Mohamed is among seven candidates challenging incumbent President Irfaan Ali, who is seeking a second five-year term in the Sept. 1 vote.
Bloomberg
07-07-2025
- Business
- Bloomberg
Guyana Opposition Taps Aubrey Norton as Its Presidential Candidate
Guyana's main opposition group announced veteran politician Aubrey Norton as its presidential candidate, promising to use growing oil production to deliver higher wages and other social programs. Norton will vie for the Caribbean nation's top job against incumbent President Irfaan Ali in the Sept. 1 election.
Arab Times
29-06-2025
- Business
- Arab Times
Guyana to crack down on gold smuggled in from Venezuela at urging of US govt
GEORGETOWN, Guyana, June 29, (AP): Guyana has pledged to crack down on gold smuggled across the border from neighboring Venezuela at the urging of the US government. President Irfaan Ali said late Friday that the government of the South American country is dedicating "enormous resources' to thwart the smuggling, which has long been a problem. He said authorities have increased border patrols and improved monitoring in mining regions. Local officials have said they suspect that Venezuelan-sanctioned gold is being mixed with gold mined in Guyana and then passed off as local production and sold to markets in the US, Canada, the Middle East and elsewhere. In 2021, the Royal Canadian Mint suspended gold purchases from a major export company in Guyana because officials suspected some shipments had been mixed with Venezuelan gold, an allegation the company denied. Meanwhile, the US Embassy in Guyana has suspended the visas of several miners suspected of smuggling Venezuelan gold overseas. Gold is Guyana's second most important export after oil, generating nearly $1 billion last year. Some 434,000 ounces of gold were produced last year, up from 432,000 ounces the previous year, according to the Ministry of Natural Resources. It noted that up to 50% of local gold production is smuggled out of Guyana. US Ambassador Nicole Theriot on Friday praised Guyana's cooperation, noting that the countries have worked together to secure Guyana's border with Venezuela. Relations between the two South American neighbors remain tense given a bitter dispute over the Essequibo region, which Venezuela has long claimed as its own. It represents two-thirds of Guyana and is rich in gold, diamonds, timber and other natural resources. It also is located close to massive offshore oil deposits, with current production averaging some 650,000 barrels daily.
Al-Ahram Weekly
28-06-2025
- Business
- Al-Ahram Weekly
Guyana to crack down on gold smuggled in from Venezuela at the urging of the US government - International
Guyana has pledged to crack down on gold smuggled across the border from neighbouring Venezuela at the urging of the U.S. government. President Irfaan Ali said late Friday that the government of the South American country is dedicating 'enormous resources' to thwart the smuggling, which has long been a problem. He said authorities have increased border patrols and improved monitoring in mining regions. Local officials have said they suspect that Venezuelan-sanctioned gold is being mixed with gold mined in Guyana and then passed off as local production and sold to markets in the U.S., Canada, the Middle East, and elsewhere. In 2021, the Royal Canadian Mint suspended gold purchases from a major export company in Guyana because officials suspected some shipments had been mixed with Venezuelan gold, an allegation the company denied. Meanwhile, the U.S. Embassy in Guyana has suspended the visas of several miners suspected of smuggling Venezuelan gold overseas. Gold is Guyana's second most important export after oil, generating nearly $1 billion last year. Some 434,000 ounces of gold were produced last year, up from 432,000 ounces the previous year, according to the Ministry of Natural Resources. It noted that up to 50% of local gold production is smuggled out of Guyana. U.S. Ambassador Nicole Theriot on Friday praised Guyana's cooperation, noting that the countries have worked together to secure Guyana's border with Venezuela. Relations between the two South American neighbours remain tense, given a bitter dispute over the Essequibo region, which Venezuela has long claimed as its own. It represents two-thirds of Guyana and is rich in gold, diamonds, timber, and other natural resources. It is also located close to massive offshore oil deposits, with current production averaging some 650,000 barrels daily. Follow us on: Facebook Instagram Whatsapp Short link:
San Francisco Chronicle
28-06-2025
- Business
- San Francisco Chronicle
Guyana to crack down on gold smuggled in from Venezuela at the urging of the US government
GEORGETOWN, Guyana (AP) — Guyana has pledged to crack down on gold smuggled across the border from neighboring Venezuela at the urging of the U.S. government. President Irfaan Ali said late Friday that the government of the South American country is dedicating 'enormous resources' to thwart the smuggling, which has long been a problem. He said authorities have increased border patrols and improved monitoring in mining regions. Local officials have said they suspect that Venezuelan-sanctioned gold is being mixed with gold mined in Guyana and then passed off as local production and sold to markets in the U.S., Canada, the Middle East and elsewhere. In 2021, the Royal Canadian Mint suspended gold purchases from a major export company in Guyana because officials suspected some shipments had been mixed with Venezuelan gold, an allegation the company denied. Meanwhile, the U.S. Embassy in Guyana has suspended the visas of several miners suspected of smuggling Venezuelan gold overseas. Gold is Guyana's second most important export after oil, generating nearly $1 billion last year. Some 434,000 ounces of gold were produced last year, up from 432,000 ounces the previous year, according to the Ministry of Natural Resources. It noted that up to 50% of local gold production is smuggled out of Guyana. U.S. Ambassador Nicole Theriot on Friday praised Guyana's cooperation, noting that the countries have worked together to secure Guyana's border with Venezuela. Relations between the two South American neighbors remain tense given a bitter dispute over the Essequibo region, which Venezuela has long claimed as its own. It represents two-thirds of Guyana and is rich in gold, diamonds, timber and other natural resources. It also is located close to massive offshore oil deposits, with current production averaging some 650,000 barrels daily.
