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Record Prices of Gold and Copper Are Also a Boon for Illegal Mining in Peru
Record prices of gold and copper are buoying the spirits of mining leaders gathered in the Peruvian capital this week. But surging metal markets are also stoking concerns that the windfall will accelerate growth in illegal production that will increasingly disrupt the operations of global mining companies. Informal miners are encroaching on the sites of large legal mines in the Andean nation, with executives at the Lima conference telling Bloomberg News they fear confrontations will worsen as prices climb. It’s an example of how surging commodity prices can bolster shadow economies around the world, particularly in ... (full story)