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President Nayib Bukele surprised everyone 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 reserves and strategic minerals. In addition to changes in security, the politician wants to be known for actions to improve the economy of country.
In 2023, El Salvador's Gross Domestic Product (GDP) was US$ 34,02 billion, representing approximately 0,03% of the world economy.
During a lecture to the citizens of El Salvador in late November, Watch He highlighted that the country's mineral wealth could be the key to transforming its economy, but assured that any exploration would be done 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 enforces. “Absurd!”, wrote the president on the social network X, formerly Twitter.
A past of restriction
In 2017, El Salvador became the first country to ban metal mining. Proponents of the ban say the decision was driven by the environmental and health risks associated with mining, particularly the use of chemicals such as 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 the country's mining industry.
The Salvadoran ban has inspired similar actions in the region. Costa Rica and Honduras have introduced restrictions on open-air mining, while Panama in 2023 imposed a moratorium on new mining concessions following mass 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 have such restrictions, and they are all full of mines. We would like to see parts of the country prosper like Qatar. How do you think they got there? They used their resources“, he said, comparing Salvadoran potential with the wealth from oil in other nations.
The president downplayed the social and environmental impacts of mining, saying operations would be restricted to areas far from urban centers.Less than 1% of the territory would be used. This won't bother anyone.“, assured.
Gold reserves – El Salvador's Hidden Wealth
Bukele's statements are supported by preliminary studies that suggest El Salvador has a huge underground treasure.
According to the president himself, the gold reserves, estimated at around three trillion dollars, represent more than 8800% of the country's current GDP. In addition, the territory is home to minerals such as cobalt, nickel and lithium, essential for technologies of the fourth industrial revolution.
"The potential gold reserves that El Salvador has are estimated at three trillion dollars. That is more than 8000 percent of the GDP. That is just gold. According to the first studies, we also found minerals for the fourth industrial revolution. These are cobalt, nickel, lithium.”, he said.
At the end of last month, Bukele gave more details about the study and the country's trillion-dollar potential. See the publication in Spanish below.
Bukele now wants El Salvador's economic miracle
After conquering a ““miracle of safety”, Nayib Bukele now aims to transform El Salvador's economy.
The president has distinguished himself with strict measures, including the emergency regime initiated in March 2022, which suspended constitutional rights and resulted in the capture of 83.100 people accused of links to gangs.
On October 16, Bukele showed confidence when he declared: “It will take a few years, but we are on the right track.” In addition to public safety, another promise he made was broad government actions to optimize regulations and ensure greater effectiveness in several areas.
As explained, among the measures highlighted is the maintenance of the ban on metal mining, in line with the promise of preserving natural resources while boosting economic growth.
Counting on gold under the ground. Another right-wing loudmouth. He and Tarcísio can join hands. Two liars. And they both like police who kill first and then ask what crime the guy committed.
It was really good before him, when the gangs reigned with impunity, murdering, trafficking and spreading terror. The funny thing is that no leftist complained. As soon as he put **** in **** the crying started. If you feel sorry for him, take him home.
Hahaha, why don't you like the police? I know, you don't need to answer, vagabond commune.💪🇧🇷
Are you a faction member? It seems like…
journalist with CV, better than Duck DUCK Go. Out google. Graduating in Petrolina!.