Venezuela Pushes For 'Gold Rush' Despite Sanctions

[Bacchus4.0]

https://www.npr.org/2018/11/27/668430606/venezuela-pushes-for-gold-rush-despite-sanctions

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For years, Venezuela largely depended on revenues from its vast oil reserves, but production has about halved since 2015, compelling Maduro to cast his eye toward his country's other natural riches in a desperate quest for revenue.

He's engaged in a chaotic attempt to revive and expand mining within a huge sweep of tropical jungle called the Orinoco Mining Arc, prompting the U.S. government to impose sanctions that specifically target Venezuela's gold trade.

Wildcat miners and other impoverished Venezuelans have flooded into the area in search of jobs and income. Battles for control over gold mines between criminal organizations, Colombian guerrillas and Venezuelan security forces have erupted, causing what the International Crisis Group calls "a spate of mass killings." Local media have reported at least 10 people killed in the last two months alone. It's believed many more deaths go unreported because the location is remote, communications are poor, and people are fearful of reprisals.

Venezuela's economy is in free fall. The International Monetary Fund estimates hyperinflation could hit 1 million percent this year. Much of the population lives in extreme poverty. There are dire shortages of food, medicine, electricity, water and — despite all those reserves — gasoline.