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Showing posts from November, 2009

60 Minutes Upcoming Conflict Gold Piece

60 Minutes will do a piece on Artisanal and Small Scale Mining - mainly focusing on the Democratic Republic of the Congo (DRC). Lets hope that 60 minutes does not just follow suit with the last 30 years of demonizing poor miners. Gold mining is an excellent mechanism to transfer wealth from rich countries to poor - a superb development opportunity, and the same one that developed a lot of the US and Canada. A big problem is that governments (often fed by media hysteria) do not provide any appropriate services or legal systems for poor miners to capitalize on the wealth they generate - so the wealth leaves the communities where it is created. There are 10 million people doing informal or "extra-legal" gold mining in 70 countries. They often develop sophisticated socio-economic systems that include education, healthcare, and security. Remarkably, they usually do this in isolation and with zero help from governments. They make about 4 times more money than the alternative - rur…