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Strategies & Market Trends : Ride the Tiger with CD

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From: Gib Bogle7/17/2025 10:52:54 PM
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Anchan
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Since I am in Peru, a big mining country, I might as well report on some recent events that convey something of the conditions here. I spoke to a man who had just had his visit to the south disrupted by a huge protest by "informal" miners who blocked the main road, the PanAmerican Highway, for about a day. Apparently some in Congress want laws to regulate the informal mining. I'm a bit unclear about the distinction between informal and illegal mining, but it seems that the informal miners work for the mining companies (which are legal) on a kind of informal basis, maybe day-to-day, - they are not regularly employed, and cost less because they get no benefits (and presumably pay no taxes.) The illegal miners work for themselves, and they are the ones creating pollution and degrading the environment. He told me that "illegal" mining (mostly for gold) is bigger than legal mining. The money involved is huge.
According to my friend the informal miners are controlled and organised by a mafia, and would have turned out to the protest under orders, with threats of violence if necessary. This mafia works hand in glove with the mafia in Congress (his words), which includes most of Congress, but not, in this case, those who want to impose the regulations.
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