Devastating Impact Of Gem Mining

The Devastating Impact Of Gem Mining

It’s increasingly difficult to earn a living in some of the world’s most rural communities, which leads to people taking potentially dangerous jobs. But a rising demand for gems has led to devastating results for the environment and the health of mine workers. Mining has emerged as a substantial socioeconomic sector in numerous developing countries, becoming a significant source of revenue for millions of people in 80 countries worldwide.

Get The Timeless Reading eBook in PDF

Get the entire 10-part series on Timeless Reading in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues.

We respect your email privacy

Q2 hedge fund letters, conference, scoops etc

Devastating Impact Of Gem Mining

The explosive growth of gem mining — artisanal and small-scale mining (ASM) in particular — has spawned hundreds of low-tech operations, and many of these companies create unsafe environments for their employees.

Get-rich-quick companies use unskilled workers and rudimentary techniques and tools that degrade farmlands, which reduces food production and pollutes water sources and the fish within them. Dust, fine particles, and large mercury deposits can also reach nearby streams and rivers.

Most ASM activity is occurring in sub-Saharan Africa, Asia, Oceania, and Central and South America. The largely unregulated network of mines account for 80% of the world’s sapphires, 20% of the diamond supply, and 20% of the gold supply. They employ more than 100 million miners.

While millions of people depend on the mines for their livelihood, the operations are creating a toxic environment that can only be relieved by placing oversight on small mines and encouraging ethical practices and adequate regulation.

Devastating Impact Of Gem Mining

Infographic source: Moneypod, via Daily Infographic

LEAVE A COMMENT


X
Saved Articles
X
TextTExtLInkTextTExtLInk

The Life and Career of Charlie Munger

Charlie is more than just Warren Buffett’s friend and Berkshire Hathaway’s Vice Chairman – Buffett has actually credited him with redefining how he looks at investing. Now you can learn from Charlie firsthand via this incredible ebook and over a dozen other famous investor studies by signing up below:

  • Learn from the best and forever change your investing perspective
  • One incredible tidbit of knowledge after another in the page-turning masterpiece of a book
  • Discover the secrets to Charlie’s success and how to apply it to your investing
Never Miss A Story!
Subscribe to ValueWalk Newsletter. We respect your privacy.

What’s missing today for many investors is real, straightforward advice.

Especially when it comes to Value Investing and Hedge Funds. 💵

That’s what makes ValueWalk Premium different. Some would say we’re “unusual.”

Our subscribers look forward to clear, easy-to-understand information they can act on.

Sign up for  today for only a few dollars a day and get a 3 day no obligation trial with a targeted 20% discount coupon code.

Cancel anytime during trial and you are never charged.

Limited time offer: For first 50 subscribers

0