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President Nayib Bukele Surprised By Revealing El Salvador’s Gold Reserves, Which Exceed 8,800% Of The Country’s GDP, Generating Expectations About The New Economic Strategy.
The President of El Salvador, Nayib Bukele, stated that the country has vast untapped potential in gold and strategic minerals. In addition to changes in security, the politician wants to be remembered for actions to improve the economy of the country.
In 2023, El Salvador’s Gross Domestic Product (GDP) was US$ 34.02 billion, representing approximately 0.03% of the global economy.
During a speech to the citizens of El Salvador at the end of November, Bukele emphasized that the country’s mineral wealth could be the key to transforming its economy, but assured that any exploration would be conducted without compromising the environment.
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“We are the only country in the world with a total ban on metal mining, something that no other country implements. “Absurd!”,” wrote the president on the social network X, formerly Twitter.
A Past Of Restriction
In 2017, El Salvador became a pioneer by prohibiting metal mining. Advocates of the ban argue that the decision was driven by the environmental and health risks associated with mining, especially due to the use of chemicals like cyanide and mercury.
Under the leadership of then-president Salvador Sánchez Cerén, the measure was applauded by rural communities and environmentalists, marking a tough stance against a mining industry in the country.
The Salvadoran ban inspired similar actions in the region. Costa Rica and Honduras adopted restrictions on open-pit mining, while Panama, in 2023, declared a moratorium on new mining concessions following massive protests against a copper exploration project.
Bukele’s Vision
Now, Bukele seeks to change El Salvador’s decision. “We are the only country that prohibits excavation and mining. Neither Guatemala nor Europe has these restrictions, and they are all full of mines. We would like to see parts of the country prospering like Qatar. How do you think they got there? They used their resources,” he said, comparing Salvadoran potential with the wealth derived from oil in other nations.
The president downplayed the social and environmental impacts of mining, claiming that operations would be restricted to areas far from urban centers. “Less than 1% of the territory would be used. This will not bother anyone,” he assured.
Gold Reserves – El Salvador’s Hidden Wealth
Bukele’s statements are supported by preliminary studies suggesting that El Salvador has an enormous underground treasure.
According to the president himself, the gold reserves, estimated to be around three trillion dollars, represent more than 8,800% of the country’s current GDP. In addition, the territory is home to minerals such as cobalt, nickel, and lithium, essential for fourth industrial revolution technologies.
“The potential gold reserves that El Salvador has are estimated at three trillion dollars. That is more than 8000 percent of the GDP. This is just gold. According to early studies, we also found minerals for the fourth industrial revolution. These are cobalt, nickel, lithium,” he said.
On X, at the end of last month, Bukele provided more details about the study and the country’s trillion-dollar potential. See below the post in Spanish.
Bukele Now Wants El Salvador’s Economic Miracle
After achieving a “miracle of security,” Nayib Bukele is now aiming to transform El Salvador’s economy.
The president has stood out with strict measures, including the state of emergency initiated in March 2022, which suspended constitutional rights and resulted in the capture of 83,100 people accused of having links to gangs.
On October 16, Bukele expressed confidence by stating, “It will take a few years, but we are on the right track.” In addition to public safety, another of his promises was comprehensive government actions to streamline regulations and ensure greater effectiveness in various areas.
As explained, among the highlighted measures is the maintenance of the ban on metal mining, aligned with the promise to preserve natural resources while boosting economic growth.
jornalista com CV, melhor que Duck DUCK Go. Fora google.Formando em Petrolina !.
Contando com ouro embaixo da terra. Mais um falastrão da direita. Ele e o Tarcísio podem dar as mãos. Dois mentihrosos. E os dois gostam de polícia que mata primeiro e depois pergunta qual crime o cara cometeu.
Bom mesmo era antes dele, quando as Gangues reinavam impunes, assassinando, traficando e tocando o terror. Curioso é que nenhum esquerdinha reclamou. Foi só colocar **** na **** que a choradeira começou. Tá com pena, leva pra casa.
Kkk porque será que vc não gosta de polícia? Já sei, não precisa responder comuna vagal.💪🇧🇷
O sr é de facçao? Parece…