The Minerals Marketing Corporation of Zimbabwe reported in May 2013 that up to $50 Million worth of gold was being illegally smuggled out of Zimbabwe each month. The gold is believed to be smuggled to South Africa where it is refined on its way to Switzerland. The cost to refine the gold in South Africa… Continue reading Value of Gold Smuggled Out of Zimbabwe Each Month
Law enforcement agencies in Vietnam investigated nearly 31,400 cases of black market smuggling in 2012. The value of the illicit goods was worth $21 Million (440 Billion Vietnamese Dong). Between November 2012 to the end of February 2013, authorities arrested 11 pirates from Indonesia, 46 heroin traffickers, confiscated nearly 800 ecstasy pills, 24 kilograms of… Continue reading Smuggling Incidents in Vietnam in 2012
A gold smuggler in India can make $33.50 (1,800 Rupee) for every 10 grams of gold that is smuggled into the country, according to jewelers in the country. The government of India has raised the duty on gold, thus increasing the black market smuggling of gold to avoid duty payments. (More income and profits from… Continue reading Earnings from Gold Smuggling in India
Chinese Officials reported that over 21,000 tons of rare earth minerals was smuggled out of the country in 2011. The amount of minerals smuggled out of the country was 20 percent higher than the 18,600 tons that was legally exported out of China.
Officials in the Philippines estimate that up to 95 percent of the gold trade in the country is controlled by black market smugglers. The rise in the smuggling of gold is attributed to the 7 percent tax rate on gold sales levied by the Central Bank starting in 2011.
Mexican drug cartel Los Zetas is estimated to be earning between $22 Million to $25 Million by illegally mining coal near the US border.
In August 2012, police in Italy reported that they has been an increase of 78 percent in the amount of gold, silver and cash that was prevented from being smuggled out of the country in the first six month of 2012.
Law enforcement officials and traders in the Philippines estimate that up to 90 percent of the gold mining done by small-scale miners in the country is sold on the black market and smuggled out of the country.
By law, gold that is mined in the Philippines must be sold to the Central Bank. However, in the second quarter of 2012, the amount of gold sold by small-scale miners dropped by 98 percent from the year before.
Gold Miners are selling their gold on the black market either directly to tourists, or to middlemen who smuggle the gold onto world markets such as Hong Kong.
Illegal mining groups in Colombia are reported to be paying 1 percent of their total production to paramilitary groups such as the FARC. One miner who is involved in unlicensed mining stated that his group pays between $540 to 840 a month in extortion fees.
The Mine Minister of Colombia estimated that at least 40 percent of all mining activities in Colombia in 2011 was unlicensed. The drug trafficking and paramilitary organizations control at least 30 percent of the illegal mining activities.
Up to 30 percent of Colombia’s total mining industry is estimated to be controlled by drug trafficking organizations. It was previously reported that guerrilla group FARC generates up to $1 Million a month from illegal mining activities.