• 20 hours How Blockchain Tech Could Make Mergers And Acquisitions More Efficient
  • 1 day America’s Shortage Of This Metal Keeps Trump Up At Night
  • 2 days Bidet Bonanza: Defying The Toilet Paper Shortage
  • 2 days U.S. Auto Sales Fall By 75%
  • 3 days Violating Quarantine? Big Brother Is Watching
  • 3 days Does Gold Still Have Some Room To Run?
  • 3 days Major Acquisition Gives The World’s First Green Ride-Share Another Edge
  • 4 days U.S. Pushes For Digital Currency For Immediate Stimulus
  • 4 days The Impossible Challenges Created By Growing Population
  • 4 days Gold Skyrockets After Fed Pledges "Unlimited" Cash To Boost Economy
  • 5 days World’s Richest Lose $1 Trillion In Stock Market Rout
  • 5 days Gas Stations Shut Down In Venezuela As Coronavirus Crisis Intensifies
  • 5 days The Best And Worse Case Scenario For The U.S. Stock Market
  • 6 days 3 Industries Soaring During The Coronavirus Crisis
  • 6 days The Key To Commercial Hydrogen
  • 7 days Gold Still Beating Much Of The Market Despite Sell-Off
  • 7 days Gold Miners Struggle With COVID-19 Fallout
  • 8 days The Dollar Reigns Supreme In Times Of Crisis
  • 8 days The Most Exciting Green Startups To Watch In 2020
  • 9 days 5 Ways To Beat The Coronavirus Quarantine Doldrums
America’s Shortage Of This Metal Keeps Trump Up At Night

America’s Shortage Of This Metal Keeps Trump Up At Night

Everything from the 5G revolution…

Does Gold Still Have Some Room To Run?

Does Gold Still Have Some Room To Run?

The gold-silver ratio keeps going…

Mining.com

Mining.com

Mining.com

MINING.com is a web-based global mining publication focusing on news and commentary about mining and mineral exploration. The site is a one-stop-shop for mining industry…

Contact Author

  1. Home
  2. Commodities
  3. Precious Metals

Illegal Gold Mining Hits Record High In Venezuela

Mine

Illegal gold mining is reaching new record highs in Venezuela as hyperinflation, power cuts, as well as food and medicine shortages are pushing citizens to either flee the country or find new ways of survival.

A UN heritage site famous for green tourism is now home to multiple illegal mines.

Arguably the biggest problem facing Venezuelans in their day-to-day lives is the ongoing currency inflation, which means even the smallest amount of gold is good enough for the struggling population as they can use the metal to pay for everyday staples.

Most of those panning for gold are flocking to the country’s Canaima National Park, where even indigenous Pemon people, native to the region containing Venezuela's famous Angel Falls, have now left ecologically driven lives as tour guides to mine for gold, The Wall Street Journal reported.

According to the article, the precious metal has now replaced the bolivar as the national currency within the UNESCO-listed area, whose 500 million year old pillars of erosion inspired Disney's "Up". Locals are said to be digging mines the size of a football field as they search for gold, even though mining in the vast national park is illegal.

Fed up with economic despair, masses of Venezuelans are simply fleeing. Earlier this month, the UN office for humanitarian coordination (OCHA), said the number of refugees and migrants who have left the South American country since the economic crisis began in 2014, has now reached 3 million.

Illegal gold mining spikes in Venezuela as locals struggle to survive
(Click to enlarge)
 

Back to homepage

Leave a comment

Leave a comment