Europe's Risky Gold: The Hidden Costs of Amazonian Mining

A study by Instituto Escolhas reveals that the majority of Brazilian gold imports by Germany and Italy originate from regions in the Amazon where illegal mining is prevalent. Despite strict EU regulations, the gold traced back to wildcat mining operations highlights significant gaps in the due diligence process.

A recent study by Sao Paulo-based Instituto Escolhas reveals a troubling trend in European gold imports, primarily sourced from regions in the Amazon notorious for illegal mining activities.

The report, titled 'Europe's Risky Gold,' highlights that all of Germany's 2023 Brazilian gold imports come from Amazonas, where gold mining has thrived under relaxed environmental controls by former President Jair Bolsonaro.

Approximately 71% of Italy's Brazilian gold imports also originate from similar regions, raising concerns about the transparency and traceability of the gold supply chain despite rigorous European standards aimed at preventing trade in illicit resources.

(With inputs from agencies.)