The world economy suffered a major setback due to the pandemic


The world economy suffered a major setback due to the pandemic generated by the spread of the coronavirus (sars-cov2). Many countries face additional challenges to the public health crisis;
job destruction, consumption decline and the latent threat of a recession.

Colombia has not been immune to these effects, we have seen the rapid increase in the employment rate and a significant reduction in exports, especially in products such as a barrel
of crude oil and thermal coal, which historically have represented the bulk of the fiscal income from the extractive industry. Undoubtedly, overcoming the health crisis is and must
continue to be a high priority, but we must not forget that in the medium and long term, the ravages left by the economic crisis due to the increase in poverty could even be more
severe and complex to reverse. that the already difficult situation that we live today. One should think about industries that can reactivate the country’s economy, attract investment
and generate employment.

In this context, gold mining can be considered as an attractive sector for reactivation. Of course, gold is not going to replace the income that oil and coal were generating, although
it is worth mentioning that in these months its price has risen to historical highs, but especially small and medium-scale technical gold mining can be a focus of Development in the
territories as it is intense in the demand for labor and also makes available resources that move local economic dynamics.

Always keeping in mind responsible action and a sustainable vision of the regions, we should begin to consider the opportunity that gold mining represents as a pillar for rural
economic growth.


Alex Manuel Lemus

Alex Manuel Lemus

Director de minería responsable

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