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More Than $20 Billion Worth Of Gold Found In Haiti

Submitted by on May 14, 2012 – 10:21 am19 Comments

Precious metals worth potentially over $20 billion have been found deep below the tropical ridges in Haiti’s northeastern mountains.

The most obvious question now is will government officials (both locally and on the U.S. front) be good stewards of the find or will they just tragically line their pockets? According to MSNBC, a mining company is drilling around the clock right now to determine how to get the metals—gold, silver and copper—out.

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

“When I first heard whispers of this I said, ‘Gold mines? There could be gold mines in Haiti?’” says Michel Lamarre, a Haitian engineer whose firm, SOMINE, is leading the exploration. “I truly believe this is our answer to taking care of ourselves instead of constantly living on donations.”

Geologists have found at least one million ounces of gold at two sites so far and earlier this year, prospectors found between 20 million and 30 million ounces of silver. Copper reportedly may become the most lucrative find of all; geologists suspect more than one million tons lay in just one of many areas under exploration.

As MSNBC reports, a windfall of locally produced wealth could pay for roads, schools, clean water and sewage systems for Haiti’s 10 million people, most of whom live on as little as $1.25 a day. Countless residents are still living in tents from the devastating January 2010 earthquake and efforts to rebrand the nation from a charity to investment destination have been eclipsed by self-made internal crises, controversy and corruption scandals. Here’s praying this recent find of precious metals will be the long-awaited windfall the country needs to finally get on its feet.

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