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Impact on El Salvador's GDP from gold mining by end of 2025?
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El Salvador President Bukele Claims Highest Density Gold Deposits in Pacific Ring of Fire Worth $131 Billion Could Transform Economy
Nov 28, 2024, 01:03 AM
El Salvador's President Nayib Bukele has announced that the country may possess the highest density of gold deposits per square kilometer globally, potentially amounting to $131 billion in gold from just 4% of the assessed area. This discovery is attributed to the country's location in the Pacific Ring of Fire, an area renowned for its rich mineral resources due to volcanic activity. Bukele emphasized that this 'God-given wealth' could be utilized responsibly to foster significant economic and social development. Additionally, he has proposed ending the country's ban on metals mining, suggesting that unmined gold could transform the nation. The conversation around gold mining is gaining traction as central banks worldwide increase their gold reserves.
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