El Salvador Considers Lifting Mining Ban to Tap $3 Trillion Gold Reserves

President Nayib Bukele advocates for reversing the 2017 mining prohibition, citing vast economic potential despite environmental and social concerns.

El Salvador is estimated to have $3 trillion in unmined gold reserves, potentially the highest density of gold deposits per square kilometer globally.
President Bukele claims extracting just 4% of these reserves could generate $131 billion, equivalent to 380% of the country's current GDP.
The 2017 ban on metal mining, implemented due to environmental and health risks, was widely supported by communities and environmentalists.
Critics warn of significant risks, including water contamination and environmental damage, citing past mining impacts like pollution in the San Sebastián River.
Bukele also highlights the potential for mining other critical minerals, such as cobalt, nickel, and lithium, essential for modern technologies.