Guyana’s bid to stop counterfeit gold trade

The authorities in Guyana are taking new steps in an attempt 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 of the gold produced in the country must be declared to the authorities and sold to the board.



But according to President Bharrat Jagdeo reliable estimates indicate that only about 50 per cent of the gold produced goes through this process.



Mining is Guyana’s third largest earner of foreign exchange.