Gold is the new value for FARC

BBC reporting on the 49 year insurgency:

“Putumayo used to produce up to 100 tonnes of cocaine a year. Now it produces around 40 tonnes.”

“But the shortfall in Farc revenue has been more than made up with illegal mining of gold”

“It was here the US military aid package, known as Plan Colombia, which has amounted to some $8bn (£5bn) since 1999, was concentrated. ”

Chemical eradication of coca crops have pushed farmers “into the new, informal industry of gold mining.”

“We estimate that the Farc here make 800m pesos ($450,000) a week from illegal gold mining,”

Informal taxation:

“For every mechanical digger that enters their territory, the rebels charge an initial “tax” of up to $3,000 and another $2,000 per piece of heavy machinery for every month of operation.”

“Gold is now more lucrative than coca,”…

“The guerrillas are not just extorting money but running some mining operations themselves or demanding a percentage of all production.”

“The advantage of gold is that it is perfectly legal to transport and sell, unlike cocaine.”

 

 

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About The Jade(d) Warrior

Decades of walking the path of the warrior in service to noble ideals leaves one, well...jaded.
This entry was posted in Economics, Geopolitics, Strategy, Terrorism and tagged , , , , . Bookmark the permalink.

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