Illegal mining multiplies due to high international prices | Minería ilegal se multiplica por altos precios internacionales

By El Potosi:

Gold and silver are luring many because of today’s spectacular market values.

Many want to enter the mining business. El Potosí

The high international prices of various minerals appear to be encouraging the growth of legal mining in the Department of Potosí.

The dean of the Faculty of Mining Engineering at Tomás Frías Autonomous University (UATF), Epifanio Mamani, pointed out that prices are rising in an unprecedented way, making this productive sector attractive to many people.

As a result, many communities are seeing the emergence of so-called mining cooperatives that compete for work areas with those who already hold rights to exploit the subsoil.

He noted that in Cerro Rico there is also intense exploitation due to the high price of silver, and the same is happening in other regions near the city of Potosí.

The interviewee regrets that there is an unusual amount of illegal mining activity, as it disregards environmental aspects and proper production practices, operates without extraction regulations, and lacks safety measures — leading to an increase in mine accidents and deaths in tunnels.

GOLD

With a price of $3,844 per troy ounce, gold is the most precious metal and is driving mining activity not only in Potosí but also in several regions of the country.

A December 2024 report from the Secretariat of Mother Earth of the Autonomous Departmental Government of Potosí revealed that the department had around 300 gold extraction operations, of which only about 25 percent were either licensed or in the process of obtaining permits.

Most gold mining operations take place in the San Juan del Oro basin, which includes the municipalities of Tupiza and Cotagaita.

It is estimated that in those areas there are between 200 and 300 gold mining operations, about 25 percent of which may have or be processing licenses, while the rest are operating illegally.

He mentioned that many of these operations are mobile and can move from one point to another, making it difficult to verify their documentation.

This large number of illegal gold mining operations in the southern region of the Department of Potosí is reportedly backed by Chinese, Colombian, Peruvian, and Chilean investors, according to researcher Alfredo Zaconeta from the Center for Labor and Agrarian Studies (Cedla).

Leave a comment