By Cecilia Jamasmie
MINING.com
The Revolutionary Armed Forces of Colombia (FARC) and a new generation of drug gangs (known locally as “Bacrims”) are increasingly turning to gold mining to finance their terrorist acts, reveals a report released Thursday by political risk firm Exclusive Analysis.
“FARC and drug gang involvement in gold mining increases extortion and property damage risks, particularly in Antioquia and Putumayo,” said Carlos Caicedo, head of Latin America forecasting.
The expert says that funds coming from mining operations are now the main source of income for the revolutionary groups. In some provinces, he added, it has overtaken drug trafficking, especially in areas controlled by the FARC.
Caicedo said the lack of security force presence in some of Colombia’s remote areas is fuelling confrontations between the FARC and Bacrims, who often “fight each other for the right to extort.”