https://www.miningweekly.com
Africa|Gold|Infrastructure|Mining|Power|SECURITY|Environmental|Infrastructure|Operations
Africa|Gold|Infrastructure|Mining|Power|SECURITY|Environmental|Infrastructure|Operations
africa|gold|infrastructure|mining|power|security|environmental|infrastructure|operations

Venezuela's Guaido seeks EU 'blood gold' designation for informal mining

10th January 2020

By: Reuters

  

Font size: - +

CARACAS – Venezuelan opposition leader Juan Guaido on Thursday urged the European Union to officially label as "blood gold" the precious metal informally mined in the country's southern jungles as he seeks to increase pressure on the government of President Nicolas Maduro.

Maduro's government since 2016 has supported artesanal mining in the Venezuelan Amazon to bring in revenue amid an economic crisis, an effort that expanded as Washington increased sanctions meant to force the ruling Socialist Party from power.

The initiative has been criticized by environmental activists and rights groups for contaminating watersheds with mercury and fueling massacres as gangs battle for territory.

In an interview with Reuters, Guaido said the EU should use a label to limit the trade of Venezuelan gold, the way the "blood diamond" campaign of the 1990s targeted diamond sales that financed armed conflict in Africa.

"I think Europe can take steps in this direction by not allowing the trade of (Venezuelan) gold in Europe... and to clearly label it 'blood gold,'" Guaido said.

"What is it used for in Venezuela? To finance irregular (armed) groups," he said, referring to Colombian guerrillas that are increasingly present near gold mining operations.

The United States, along with the EU and more than 50 other countries, recognizes Guaido as Venezuela's legitimate president. In 2019, Washington broadened its sanctions program against Maduro in the hopes of pushing his government from power.

But Maduro has hung on, skirting sanctions on the OPEC nation's oil industry with the help of allied Russia and through the sale of gold produced by the artesanal miners, who are often linked to organized crime.

Trump administration sanctions already prohibit U.S individuals and companies from trading Venezuelan gold, some of which has been sold to Turkey - another Maduro ally.

A Guaido representative in September said Maduro's government was selling gold in Europe to bypass sanctions.

The EU as a matter of policy does not comment, a spokesperson said in an emailed response to a request for comment, adding that it fully supports Guaido as president of the legislature and has enacted a travel ban on 25 officials as well as an embargo on arms sales to Venezuela.

The EU has not specifically prohibited trade of Venezuelan gold.

The Reuters interview was Guaido's first with foreign media since Maduro's security forces tried unsuccessfully to prevent him from getting re-elected as the head of the opposition earlier this week.

On Sunday, Maduro's allies tried to install a rival opposition head and group of legislators after security forces moved to block Guaido and his supporters from entering parliament.

"We will do everything possible to continue doing our jobs," Guaido said in reference to parliament.

ELECTRICITY LOAN CALLED OFF

Guaido also said legislators were abandoning efforts to finance electricity infrastructure through a loan from regional development bank CAF, with lawmakers now seeking different mechanisms to ease the country's chronic power outages.

The proposal had involved CAF providing $350-million in funds that would be overseen by the United Nations. The plan was broadly criticized as expensive and impractical, and generated concerns that Maduro's government would ultimately have influence over the use of the funds.

"There are alternative mechanisms that don't involve adding to the country's debt, and at a lower cost," said Guaido.

CAF did not immediately respond to a request for comment. The UN office in Venezuela declined to comment.

The blackouts have undermined the functioning of everything from routine commerce to hospital emergency rooms. Especially hard hit has been the western state of Zulia, where citizens routinely go 12 hours without power.

Edited by Reuters

Comments

Showroom

WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.073 0.109s - 110pq - 2rq
Subscribe Now