To read about the economic impact of illicit and unregulated gold mining, visit http://www.bullionstreet.com/news/peru-illicit-miners-loot-18-tons-of-gold-every-year/1367
Illicit gold mining in Peru is costing the country more than $190 million a year due to tax evasion. Peru’s extensive mineral resources have resulted in a productive extractive sector which accounts for more than 60% of Peru’s total exports. Due to the high prices of mineral resources and increasing foreign demand, illicit and unregulated gold mining has increased drastically in the Madre de Dios region. Illicit gold mining threatens the environment and the industry itself, subsequently threatening Peru’s economy.