Oct 2, 2012

Across Latin America, quest for gold brings riches, conflict

By Tim Johnson | McClatchy Newspapers

MEXICO CITY — Steadily high prices for gold are having a dramatic impact on parts of Latin America, bringing a flood of foreign investment and stirring a gold bug among wildcat miners in the jungles.

Some of Latin America’s poorest nations – Bolivia, Honduras and Nicaragua – have seen their balance sheets strengthened by gold production, while major producers Peru and Mexico reap billions in foreign exports.

But even as miners unearth deposits of gold, they also open up veins of social discontent. Protests over gold mining have become the coin of the day in areas where villagers complain of water pollution, a lack of jobs and environmental devastation. Read more. 

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