The surge in gold prices is driving a rapid expansion in informal and unregulated gold mining that is often illegal and ecologically destructive, according to the World Gold Council.
Artisinal and small-scale gold mining has likely risen to about 30% of global supply, Terry Heymann, the council’s chief financial officer, said in an interview. In many gold-rich countries such as Ghana, rural populations are shifting from farming to small-scale gold mining. The unregulated extraction causes mercury pollution and provides organized crime with a new source of revenue, said Heymann.
