El Salvador Now Looking to Mine $3 Trillion in Gold and Other Critical Minerals

Back in 2017, El Salvador became the first country in the world to initiate economic suicide by prohibiting the potential development and utilization of its national resources.

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Now, under the leadership of President Nayib Bukele, the nation is looking to reverse course.

The move by Bukele’s predecessor, former left-wing rebel Salvador Sanchez Ceren, reflected the growing rejection of mining by rural communities in central America, devastated by the industry’s adverse health and environmental effects.

Costa Rica and Honduras have both banned open-pit mining and Panama declared a moratorium on new mining concessions last year after mass protests over plans for a huge copper mine.

According to Bukele, El Salvador may be sitting on unmined gold reserves worth an estimated $3 trillion, approximately 8,800% of the nation’s current GDP.

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