Colombian cocaine farmers turn to gold-mining

swissaustrian · 02-01-2012, 08:26 AM

Interesting development in Colombia, clear sign of a bull market :

Colombian coca farmers turn to gold-mining - YouTube

Quote :

Farmers leave laborious jobs for more lucrative but often dangerous illegal gold-mining.
Cocaine farmers in Colombia are leaving the drug business and moving into illegal gold-mining.
Authorities have shut down scores of mines in the northwestern province of Cordoba in a crackdown on illegal mining that started in September. About 400 police took part in the sweep.
Communities near the unregulated mines suffer from the "improper use of mercury and other contaminating substances" found in soil and bodies of water, officials said.
Al Jazeera's Monica Villamizar reports from Norosi.

http://www.aljazeera.com/video/ameri...012665884.html

DCFusor · 02-01-2012, 08:48 AM

Yup. It's not like they were getting the street price of coke before - which might have made that a lot more lucrative for them than gold would ever be.

They should mine inkjet ink - the most expensive substance on the planet. Just ask HP.

Farmers seem to always get the short end of the stick. If they ever stood together and demanded, say, half the retail price of their product - it would be the end of the world for some outfits that now get about 70%+ of the markup.

**PMBug** · 02-01-2012, 09:00 AM

If the Colombian government was smart, they would be encouraging the farmers to mine responsibly and legally.

bushi · 02-01-2012, 09:00 AM

Originally Posted by DCFusor

:

(...) it would be the end of the world for some outfits that now get about 70%+ of the markup..

...yep, and their risks/ROI is laughable, comparing to farmer's.

DCFusor · 02-01-2012, 09:03 AM

And, they somehow never seem to return much of it to shareholders.

02-01-2012, 08:48 AM	#2
DCFusor PM Bug Supporter Join Date: Nov 2011 Location: Floyd, Virginia Posts: 760 Liked: 396 times	Yup. It's not like they were getting the street price of coke before - which might have made that a lot more lucrative for them than gold would ever be. They should mine inkjet ink - the most expensive substance on the planet. Just ask HP. Farmers seem to always get the short end of the stick. If they ever stood together and demanded, say, half the retail price of their product - it would be the end of the world for some outfits that now get about 70%+ of the markup. Share Share this post on Digg Del.icio.us Technorati Twitter bushi likes this.

02-01-2012, 09:00 AM	#3
PMBug Golden Cockroach Join Date: Oct 2011 Location: In Scrooge McDuck's vault Posts: 1,926 Liked: 467 times	If the Colombian government was smart, they would be encouraging the farmers to mine responsibly and legally. Share Share this post on Digg Del.icio.us Technorati Twitter swissaustrian likes this. __________________ The journey of a thousand miles begins with a single step. - Lao Tzu Do you have something to say about what I posted? Register and let your voice be heard.

02-01-2012, 09:03 AM	#5
DCFusor PM Bug Supporter Join Date: Nov 2011 Location: Floyd, Virginia Posts: 760 Liked: 396 times	And, they somehow never seem to return much of it to shareholders. Share Share this post on Digg Del.icio.us Technorati Twitter

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