Peru: Links Found Between Illegal Mining and Foreign Companies

Peru: Links Found Between Illegal Mining and Foreign Companies

Published 16 June 2015 (1 hours 3 minutes ago)

Illegal exports of gold combined with the legal distribution of the mineral would make Peru the second largest exporter of the metal, behind only China.

Peru’s government is at fault for the illegal distribution of gold, analysts claimed on Tuesday after the investigative journalists group, Public Eye, released a report showing massive amounts of exported gold mined illegally and allegedly sold to six members of the London Bullion Market Association.

The estimated amount of contraband gold exports leaving from Peru illegally each year is 150 tons according Public Eye.

That translates to a value of over $5 billion dollars a year that has allegedly ended up in the hands of Swiss companies Metalor Technologies and MKS Finance, US companies Northern Texas Refinery and Republic Metals Corporation, as well as the Italian Italpreziosi and Saudi Arabian Kaloti.

More:
http://www.telesurtv.net/english/news/Peru-Links-Found-Between-Illegal-Mining-and-Foreign-Companies--20150616-0038.html