Colombia pro-mining referendum will not soothe global miners - Reuters
Jose Alberto Gamboa, whose smile flashes the gold he has spent his life digging from Colombia’s frosty Andean mountains, says he will do whatever it takes to protect his town’s only industry: mining.
“We would get guns and go to war,” the grizzled 67-year-old miner said during his break at the Queen of Gold mine, near Vetas, on the steep slopes of Santander province. “How else could we feed our children?”
Gamboa is not alone. Vetas municipality will soon hold Colombia’s first-ever, and so far only, local vote aimed at enshrining the right to mine, in sharp contrast to a wave of environmentally focused anti-mining referendums over the past year that spooked investors and forced a major gold project to close.
The pro-mining referendum in Vetas may prompt more elsewhere. But pro-mining votes seem set to benefit local companies and mining in streams and on mountainsides, not multinationals including Continental Gold, EcoOro , Red Eagle and AngloGold Ashanti, which pulled out of a $360 million investment in Cajamarca after an anti-mining vote last year.
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