You are here
El Salvador lawmakers overturn mining ban
By Thomas Graham
Financial Times, London
Monday, December 23, 2024
El Salvador’s congress overturned a blanket ban on metal mining in a bid to find new sources of economic growth, handing a win to President Nayib Bukele despite criticism over the measure from environmental and religious groups.
The ban, which was the first of its kind in the world, was introduced in 2017 to protect the country's water resources. Bukele, who came to power in 2019, described it as "absurd."
... Dispatch continues below ...
... ADVERTISEMENT ...
Bullion Star Opens in the U.S., Selling and Vaulting Gold and Silver
Bullion Star is now open in the United States, offering gold and silver bullion at extremely competitive prices with free delivery. Bullion Star also offers customers a year of free vault storage along with free delivery as well as storage in its secure precious metals vault in Dallas, Texas.
Storing precious metals is challenging. Homeowner's insurance seldom covers precious metals, and safe deposit boxes offered by banks are neither insured nor covered by the government deposit insurance. Bullion Star's vault is an independently run, Class III UL-rated vault with uncompromising surveillance and round-the-clock security.
With Bullion Star you can transact and store your metals securely and confidentially. Your bullion is fully insured against all risks at full replacement value. Bullion Star uses five audit methods to verify the existence and correctness of your stored bullion.
For more information, please visit:
Bukele's party and its allies hold 57 of 60 seats in the legislature, and all 57 voted to overturn the ban while giving the Salvadoran government sole authority over mining activities.
In his second term, Bukele -- one of the region's most popular, if controversial, leaders -- has focused on reviving El Salvador's economy and seeking foreign investment. He has claimed that El Salvador sits on gold reserves potentially worth $3 trillion, citing an undisclosed study, although that has been treated with skepticism by experts. ...
... For the remainder of the report:
https://www.ft.com/content/ce1e23de-de49-4754-9111-e54d5a719403
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
Donations of $250 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
