Illegal gold exports would total US$12 billion this year, warned the general manager of the Peruvian Institute of Economics (IPE), Carlos Gallardo. In addition, he warned that the gap between legal and illegal, which was previously 190 tons, today is reduced to only three.
As he explained, Peru has become one of the main countries in South America that makes these shipments, with 44% of the total. In this way, it surpasses the sales made by Brazil, Bolivia, Colombia and Ecuador.
“The rise of illegal gold is sustained not only in extraction, but in its entire commercial chain. Exporting companies multiplied by four in five years, and marketing companies grew from 4,000 to more than 13,800 in the last decade,” he commented in a forum organized by the Lima Chamber of Commerce (CCL).
Likewise, he pointed out that export destinations have migrated towards markets with lower traceability requirements, such as the United Arab Emirates and India.
WORRY
On the other hand, Carlos Gallardo explained his concern because there are US$7,000 million in copper projects that are behind schedule, among which are Michiquillay, Los Chancas and Haquira. These are affected by social conflicts and illegal mining.
Meanwhile, the president of the CCL, Roberto de la Tore, questioned the paperwork for the formalization process, pointing out that a company that wants to fulfill this purpose needs 3,332 hours of administrative procedures.
“The time that is wasted today in procedures could be used to innovate, produce or generate employment. Therefore, moving towards more agile and efficient processes is key to enhancing business competitiveness,” he commented.
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