Artisanal gold supply chain: Measures from the Ecuadorian Government

Maxim J. Thomas, Marcello M. Veiga, Bruce G. Marshall and W. Scott Dunbar

Resources Policy, 2019, vol. 64, issue C

Abstract: •Official Ecuadorian gold production of 6.5 tonnes in 2018 appears low due to large illegal exports.•The Central Bank of Ecuador (CBE) bought 2.27 tonnes of gold in 2018 through its two offices in Sangolqui and Machala.•The CBE started buying gold from artisanal miners in 2016 at the LME gold spot price with no deductions.•Bureaucracy by the Ministry of Mines to legalize artisanal miners is still the main hurdle to improve the CBE program.•Miners with small production cannot afford to travel to sell their gold at CBE offices or undergo the formalization process.

Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:64:y:2019:i:c:s0301420719304878

DOI: 10.1016/j.resourpol.2019.101505

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