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Colombia's Santos clamps down on rebel gold mines

Friday, July 13, 2012

Colombian President Juan Manuel Santos has ordered raids on illegal gold mines because gold has become a source of funds for the criminal groups that once relied solely on the cocaine trade.

Criminals and rebels enriched by gold can recruit and arm men more easily, threatening to erode hard-won gains in security over the last decade, says Daniel Mejía, an associate professor of economics at University of the Andes in Bogota.

For a while it seemed that Colombia’s gangs and rebels were permanently on the run, but no longer.

Source: Bloomberg