Illegal Gold Mining Case Study

India accounts for 80-85 per cent of the world’s CPD market in volume terms, 55-60 per cent in value terms and about 90 per cent in unit terms. Other major players in the global CPD market are Belgium and Israel. v. Surat contributes 90 percent of India's total diamonds exports. vi. India's domestic branded jewellery market is estimated at US $150 bn.

The Mutapas were large gold exporters. They mined the northern areas of a reef running North-east to South-west along the watersheds of all the Zimbabwe rivers to the coastal ports. The gold was mined by the peasants but had to be given over to the king as tribute. Gold was the main basis of the wealth of the Zimbabwean economy because it was greatly sort after by the Arab ports. The trade in ivory was also booming as it had a large monetary value as it lasted longer than gold.

Even after 130 years Rio Tinto is still the second largest mining company in the world, the production of 10 tons of copper, zinc and 7.5 tons of other minerals. S... ... middle of paper ... ...e public stock exchange, then joint forces to start opening other mines in the world. Mines that produced coal, uranium, diamonds, gold, copper and zinc. Throughout the years of its growth Rio Tinto has maintain a good reputation among the authorities and governments.  Rio Tinto has not only been a mining company but an investor to small and coming business that would help it to gain a competitive advantage to the mining industry.

Cocoa, its biggest export, accounts for 15% of the world's supply. Also its gold production, in recent years, it's exported as many as one million fine ounces. Ghana also has a good supply of bauxite, diamonds, coffee, rice, cassava, timber and rubber. Moreover, since 1983, the economy has steadily grown. With economic recovery policies intact, the economy has raised 5% a year since 1983.

Although Australia is not the largest producer, it is currently the largest exporter of iron ore in the world (Australian Minerals Industry, 2008). In 1997, Australia produced 158 million tonnes of iron ore. However, in 2007, this figure had more than doubled with a total of 320 million tonnes (U.S. Geological Survey, 2008). Such a significant change is partly attributed to the continuous expansion and diversification of the industry’s two key players, Rio Tinto Group and BHP Billiton, into the Pilbara region of northwestern Australia. Other sensitivities include environmental and social demands, technological advancements, and research and development amongst others.

Soon after mines started springing up all around Kimberly, with the Vaal River ... ... middle of paper ... ...) to control the diamond market, it is evident that the price of diamonds is too high. Due to the monopolistic nature of the market, the De Beers Diamond Cartel is able to reap vast profits by controlling the supply of diamonds. It is quite startling to know that even in this modern day and age, one corporation is pulling all the strings in what has become a huge global market. Unfortunately I do believe that at the moment, only a diamond ring is an acceptable engagement ring. As long as we still hear stories from our parents and grandparents about their beautiful diamond engagement rings and how it should cost “3 months’ salary”, diamond rings will stay the norm.

Since these projects were financed through metal borrowing, this new output was subject to price risk, which mining companies decided to manage through increasingly sophisticated gold-based derivatives. This created a very new market for a whole range of derivative products from basic forwards to vanilla and exotic options as well as any combination of these products that one could imagine. Thus, the gold derivatives market was born, and it has only continued to evolve from there. Works Cited http://www.virtualmetals.co.uk/pdf/ABARESpeech.pdf

The salt came to Mali from Berbers and it was taxed during trade. When gold was exported it was also taxed. Mali made huge profits from taxing imports and exports. The Berbers needed to trade with the Malians, Mali’s gold fueled the rest of the world’s economy. The world’s dependence on gold gave a Mali a huge monopoly on trade.

Since its legalization, the small scale mining sector has been growing astronomically. The sector also continues to have significance in the economy in terms of employment and creation of wealth. Small scale mining (SSM) is estimated to directly employ one million people and indirectly; 4.5 million. Small scale mining in 2014 contributed 34.4 % of the total gold production in Ghana. Since 1989, small scale gold mining has increased tenfold to 1,500 000 ounces from 17,234 ounces.

Figure 6 above shows the production and consumption capacity of the country which clearly depicts the exporting behavior of the country. In the year 2009 the total oil production was 2350 thousand barrels per day where as consumption was only 320 thousand barrels per day which allow the country to export the oil to other nations and increase their income level. From the figure the it can also seen the how Iraq- Kuwait war in 1992 impact the Kuwaiti oil market and its production