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Nov 09, 2026 News
(Kaieteur News) – Guyana’s lone large-scale gold producer reported US$334 million in revenue from the Aurora Gold Mine during the first half of 2026, meaning that the Government of Guyana received US$26 million in royalties, based on the applicable eight per cent royalty rate.
Guyana’s Mining Act stipulates that the royalty rate is five per cent for standard production when the price of gold is below US$1,000 per ounce. However, the rate increases to eight per cent when the market price of gold exceeds US$1,000 per ounce.
The average market price for gold in 2026 is US$4,000 per ounce. Based on the reported revenue, an eight per cent royalty would amount to approximately US$26 million, representing the estimated amount Guyana may have received for the six-month period. The figure, however, is a calculation based on the company’s reported revenue and does not confirm the actual royalty paid or received by the Government.
The Aurora Gold Mine is located in Region Seven (Cuyuni-Mazaruni).
查看配图：Guyana receives US$26M in royalty as AGM rakes in US$334M from gold in first half of 2026
Back in September, Zijin Mining Group Co. Ltd, a Chinese state-owned mining giant operating in Guyana through its subsidiary AGM Inc., reported earnings of US$334 million from its Aurora Gold Mine for the first half of 2026. The information was disclosed in the company’s recently published 2026 Interim Report on its global gold operations.
In the report, Zijin stated that mined gold production at the Aurora Gold Mine for the first six months of 2026 amounted to 2.2 tonnes, an increase from the 2.0 tonnes reported for the same period in 2025, representing a year-on-year increase of 10 per cent.
Further, during the reporting period, Zijin said geological exploration activities at the mine included 11,000 metres of drilling.
The company further disclosed that production exploration activities at the Guyana project focused on open-pit mining, processing and refining operations, alongside continued efforts to strengthen grade control and ore-blending management, with 10,000 metres of in-pit drilling completed.
During the first half of 2026, Zijin reported that five underground drilling rigs operated steadily at the Aurora Gold Mine.
As it relates to project operations and production, Zijin stated: “The mine reduced costs and improved recovery rate through measures such as pit backfilling, underground waste-rock backfilling, optimisation of blasting materials, gravity separation and carbon fines recovery.”
It further stated that the photovoltaic and power storage systems had commenced operations, reducing reliance on diesel-generated power and effectively lowering production costs.
AGM is currently Guyana’s lone large-scale gold operator.
Zijin’s foothold in Guyana’s mining landscape was solidified in August 2020 when it acquired the country’s largest gold mine operation from Canadian-owned AGM for a sum of US$238 million.
The mine holds estimated reserves close to 184 tonnes of gold, or approximately six million ounces. AGM’s mining and processing methods include open-pit mining, underground mining, gravity separation and cyanide leaching.
In April, Zijin published its 2025 Annual Report on its global operations, which revealed that its operating income from the Aurora Gold Mine last year was RMB3.68651 billion (US$549.1 million).
That report also stated that the Guyana mine produced approximately 4.5 tonnes of gold, representing an 11 per cent increase from the 4.1 tonnes produced in 2024.
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