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Another social cost of gold price suppression: Ruined environment
11:54a ET Wednesday, December 14, 2016
Dear Friend of GATA and Gold:
Another huge social cost of gold price suppression can be seen in an illustrated essay posted this week by the internet magazine Sapiens about the environmental damage done by wildcat gold mining in the Amazon River rainforest.
That is, environmental remediation is always a big cost of responsible gold mining. But when the gold price is pushed below the point where environmentally responsible mining can be done profitably, controlled by governments and major corporations, which can be held to account, wildcat miners take over and mine without remediation, extracting the natural wealth while failing to repair the damage they do.
Governments that are usually pretty weak to begin with may be able to hold corporations to account but are not able to police thousands of wildcatters, who can vanish quickly.
The illustrated essay is headlined "Gold Glimmers in the Amazon" and it's posted at Sapiens here:
http://www.sapiens.org/culture/amazon-gold-mining/
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
Market Analyst Fabrice Taylor Expects K92 Shares to Rise
as Company Commences Gold Production and Gains Cash Flow
Interviewed on Business News Network in Canada, market analyst and financial letter writer Fabrice Taylor said shares of K92 Mining (TSXV:KNT) are likely to rise, even amid declining gold prices, because the company has begun producing gold at its mine in Papua New Guinea:
http://www.bnn.ca/video/fabrice-taylor-discusses-k92-mining~1008356
Taylor cited the company's announcement here:
http://www.k92mining.com/2016/11/6114/
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