Mining collapses and an estimated 40% of gold extracted is illegal

Falling international mineral prices and containment due to the coronavirus pandemic caused a sharp drop in mineral production and exports. As of November 2020, mineral export revenues fell by 31%. However, the illegal exploitation and commercialisation of gold represent another severe problem for the sector. In the absence of state control and monitoring, at least 40% of gold extracted is not officially reported and is traded via smuggling.

Source: Los Tiempos