In an interview with Bloomberg last week, Paez said that current profits from illegal gold mining are five times greater than returns from cocaine for rebels groups operating in Colombia.
“A kilogram of cocaine can sell for about 2,570 in the Colombian jungle, while a kilogram of gold can fetch 19 times that, or similar to global market prices,” Paez was quoted as saying.
Gold, which dropped below $1,300 an ounce for the first time since September 2010 in New York last Thursday, has become Colombia’s main export after oil and coal.
Since the Colombian government and FARC representatives began face-to-face peace talks in November 2012, those who live in the areas controlled by the rebels have been following the negotiations closely.
“Mining and forestry are controlled by the FARC and other criminal gangs,” said Richard Moreno, a legal adviser to an NGO that advocates social development in the Choco department, known for its large Afro-Colombian population. “If you don’t hand over extortion payments, you can’t work there.”
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