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    Smuggling threatens Guyana's gold rush

    Al Jazeera English

    by Al Jazeera English

    The South American nation of Guyana is losing tens of millions of dollars each year because of widespread gold smuggling, despite the fact that the precious metal now ranks second after agriculture in the revenue it generates for the country.

    Gold is worth almost $400 million dollars a year to Guyana; stores are full of merchandise made with locally produced gold. The surge in the price of the metal has also led to billions of dollars in investment in the mining sector.

    Yet the country loses up to a third of its gold revenue as a result of smuggling. A World Wildlife Fund study estimates that tonnes of the country's gold is being moved illegally across the border into Suriname.

    Al Jazeera's Anand Naidoo reports from Georgetown, Guyana.