Guyana's royalty from the Aurora Gold Mine is payable in gold under the terms of the mine's Mineral Agreement.
Aurora generated US$334 million in revenue for the six months ending June 30, 2026, estimating that Guyana received approximately US$26 million in royalties based on an eight per cent rate.
Under Clause 9.3 of the Aurora Mineral Agreement, the royalty on gold is five per cent when the applicable sales price is up to US$1,000 per ounce, increasing to eight per cent when the price exceeds US$1,000.
But Clause 9.4 specifies that the royalty is calculated against the quantity of gold for which the company receives payment from the smelter, refinery or another independent purchaser. It also states that the royalty must be paid in gold unless the Government and the company mutually agree to a cash payment.
This means that applying eight per cent directly to Aurora's reported US$334 million revenue does not establish the actual royalty payment.
La Caribeña News said its review of the agreement found that the company is also permitted to deduct the value of royalty payments from its taxable income, treating the gold or cash transferred to the Government as an expense.
The arrangement is significant because the royalty is one of the direct financial benefits Guyana receives from the country's only large-scale gold producer, and the actual quantity delivered to the state has not been publicly established.
Zijin Gold International, Aurora's parent company, reported that the mine produced approximately 2.2 tonnes of gold during the first half of 2026, compared with two tonnes during the corresponding period last year.
The company's reported production amounted to approximately 70,731 troy ounces, while the Ministry of Finance recorded 70,105 ounces declared by the mine for the same period.
Using the eight per cent rate against those respective production figures produces estimates of approximately 5,658 ounces and 5,608 ounces of gold.
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