Official announcements from the El Salvador government or reports from financial news outlets

El Salvador Congress Approves Law to Lift 2017 Mining Ban on December 24, 2024, Amid Public Opposition to Bukele's Plan

Dec 23, 2024, 10:07 PM

El Salvador's Congress has approved a new law that overturns the country's seven-year ban on metal mining, originally established in 2017. This decision, made on December 24, 2024, was championed by President Nayib Bukele, who has argued that lifting the ban is essential for economic growth. The new legislation grants the government full control over mining operations, prohibits the use of mercury, and includes certain protections for specific areas. Despite the government's push, there remains substantial public and scientific opposition to the move, with recent polls indicating that a majority of the population is against resuming metal mining. Environmental and social groups have expressed disappointment and concern over the potential environmental impacts of this decision, which they believe could lead to toxic extraction in a densely populated region.