Wednesday, November 13, 2013

Perú: Illegal Gold Mining Earns 15% More Than Illegal Drug Trafficking

According to The Peruvian Times, illegal gold mining in Perú is earning 15% more than drug trafficking, a government official said Monday (November 11).
Daniel Urresti, the High Commissioner for the Formalization and Interdiction of Mining and Environmental Remediation, said in an interview with RPP radio that illegal gold mining has overtaken cocaine trafficking in terms of total revenue since 2010.

Private sector economists by their own estimates have previously stated that illegal gold mining is greater than Perú’s cocaine trade in terms of profits, although government figures were not yet available at this time.

COMMENT: What is most interesting is that Perú most recently surpassed Colombia as the world's largest producer of cocaine.

Urresti said that the government will continue in its determination to curb illegal gold mining —and strictly supervise artisanal and informal mining— and it plans to create fuel quotas for Madre de Dios, the region that is at the center of the illicit activity.

According to Urresti, the jungle region of the country uses fare more energy than Lima, Perú's capital, which is home to close to 10 million people, one-third of Perú’s population.