Haiti Haiti News Haitian History

Did You Know: More Than $20 Billion Worth Of Gold Found In Haiti

According to online reports:

Disaster-ravaged Haiti may finally have found the crock of gold at the end of  the rainbow – and it has been there all along, buried right beneath the  beleaguered people’s feet. A treasure trove of gold, silver and copper is hidden in the country’s hills, and the discovery may turn out to be as good as gold at relieving centuries of poverty-related ills. Exploratory drilling  conducted in the past year has found precious metals worth potentially US$20  billion deep below the ridges in the country’s northeastern mountains. A mining  company is now drilling around the clock to determine how to extract  them.

Workers are poised to start mining the other side of this seam in  neighbouring Dominican Republic later this year in one of the world’s largest  gold deposits: 23 million ounces worth about US$40billion. The Haitian  government’s annual budget is US$1 billion, more than half provided by foreign  assistance. The largest single source of foreign investment, US$2 billion, came  from Haitians working abroad last year. Locally produced mining  wealth could pay for roads, schools, clean water and sewage systems for the  nation’s ten million people, most of whom live on as little as US$1.25 a  day.

“If the mining companies are honest and if Haiti has a good  government, then here is a way for this country to move forward,” said Bureau of  Mines Director Dieuseul Anglade.

In a parking lot outside Anglade’s  office, more than 100 families have been living in tents since the earthquake. “The gold in the mountains belongs to the people of Haiti,” he said, “and they  need it.”

Until now, few Haitians have known about this buried treasure.  Mining camps are unmarked, and the work is being done miles up dirt roads near  remote villages, on the opposite side of the country from the  capital. But U.S. and Canadian investors have spent more than US$30  million in recent years on everything from exploratory drilling to camps for  workers, new roads, offices and laboratory studies of samples.  Actual  mining could be under way in five years.

Read more: http://www.caribbean360.com/news/haiti_news/578166.html#ixzz1wq3l5dPq

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